Guideline Value for Industrial Estate 113/3

Industrial Estate 113/3 guideline value

The current guideline value of Industrial Estate 113/3 is Rs 2,200 per sq.ft, effective from 1 July 2024. This property is located in Madavilagam village and falls under the Poonamallee SRO, classified as Industries Type - I.

How the guideline value of Industrial Estate 113/3 has changed

The guideline value for Industrial Estate 113/3 has seen several revisions over the years. Starting from the 2007 revision, the value was Rs 300 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012, marking a substantial rise of 567%. However, this value decreased by 33% to Rs 1,340 per sq.ft in 2017. The 2023 revision brought the value back up to Rs 2,000 per sq.ft, and the latest revision in 2024 has set it at Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

Notably, there are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 633%.

Guideline values in Madavilagam

In Madavilagam, there are 37 streets under the Poonamallee SRO with a 2024 guideline value ranging from Rs 660 to Rs 2,200 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, placing the 2024 guideline value of Industrial Estate 113/3 above this median.

• Industrial Estate 113/2: Rs 2,200 per sq.ft (2024)
• Industrial Estate 114: Rs 2,200 per sq.ft (2024)
• Industrial Estate 115: Rs 2,200 per sq.ft (2024)
• Industrial Estate 116: Rs 2,200 per sq.ft (2024)
• Industrial Estate 117: Rs 2,200 per sq.ft (2024)
• Industrial Estate 118: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Industrial Estate 113/3

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value totals Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees together to Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Industrial Estate 113/3?

The Sub Registrar Office that covers Industrial Estate 113/3 is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find your SRO for more information.

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

The guideline value serves as a reference point for property transactions in Madavilagam, determining the minimum value at which properties can be registered. When buying or selling property, the guideline value is crucial for calculating applicable stamp duties and registration fees.

It is essential to ensure that the sale price of the property is in line with the guideline value, as the registration process will involve fees based on the higher of the two values. This ensures compliance with local regulations and accurate valuation during property transactions.

Frequently asked questions

What is the current guideline value of Industrial Estate 113/3?

The current guideline value of Industrial Estate 113/3 is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly over the years, starting from Rs 300 per sq.ft in 2007, rising to Rs 2,200 per sq.ft in 2024, with fluctuations in between.

What is the stamp duty for property in Industrial Estate 113/3?

The stamp duty for property in Industrial Estate 113/3 is 7% of the guideline value or the sale price, whichever is higher.

Where is the Poonamallee Sub Registrar Office located?

The Poonamallee Sub Registrar Office is located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.

How is the guideline value used in property transactions?

The guideline value is used to determine the minimum registration value for properties and to calculate stamp duty and registration fees during property transactions in Madavilagam.