Guideline Value for Husur Garden (Ward-20)

Husur Garden (Ward-20) guideline value

The current guideline value for Husur Garden (Ward-20) is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class III Type - I.

How the guideline value of Husur Garden (Ward-20) has changed

The guideline value for Husur Garden has seen several revisions over the years. The earliest recorded revision is from 2012, where the value was Rs 1,200 per sq.ft. This was followed by a decrease to Rs 804 per sq.ft in 2017. The value then increased to Rs 1,200 per sq.ft in 2023, before reaching the current figure of Rs 1,300 per sq.ft in 2024. The register has no figures for the years 2002, 2003, and 2007 for this street.

From 2017 to 2023, there was a significant increase of 49%. The value then rose by 8% from 2023 to 2024. Overall, comparing the values from 2012 to 2024, there has been an increase of 8%.

Guideline values in Madhavaram

Madhavaram village has a total of 1,946 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft in 2024. The median guideline value for these streets is Rs 1,600 per sq.ft, placing Husur Garden's current value below that median.

• Husoor Garden: Rs 1,300 per sq.ft (2024)
• Indira Gandh Street ( Ward No.23 ): Rs 1,300 per sq.ft (2024)
• Guru Raghavendra Samy Colony: Rs 1,300 per sq.ft (2024)
• Guru Ragavendra Nagar ( Ward No.11 ): Rs 1,300 per sq.ft (2024)
• Gurudev Nagar: Rs 1,300 per sq.ft (2024)
• Inner ring road: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Husur Garden (Ward-20)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, while the registration fee at 2% would be Rs 26,000, bringing the total cost for these fees to Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Husur Garden (Ward-20)?

The Sub Registrar Office that covers Husur Garden (Ward-20) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Madhavaram

The guideline value is a critical factor in the registration process when buying or selling property in Madhavaram. It determines the minimum value at which a property can be registered, ensuring that the transaction is documented accurately according to the prevailing rates set by the government.

Buyers and sellers must be aware that the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with property transactions. This ensures transparency and compliance with legal requirements during the buying or selling process.

Frequently asked questions

What is the current guideline value for Husur Garden (Ward-20)?

The current guideline value for Husur Garden (Ward-20) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,300 per sq.ft in 2024.

What are the stamp duty and registration fees for property in Husur Garden?

For a 1,000 sq.ft plot, the total guideline value is Rs 13,00,000. The stamp duty is Rs 91,000, and the registration fee is Rs 26,000, totaling Rs 1,17,000.

Which office handles registrations for Husur Garden (Ward-20)?

The Madhavaram Sub Registrar Office handles registrations for Husur Garden (Ward-20), located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is the guideline value determined for properties in Madhavaram?

The guideline value is determined by the government and is based on various factors, including the location and classification of the property. It is updated periodically to reflect changes in the real estate market.