Guideline Value for Iyer Thottam 2nd st ( Ward No.22 & 23)

Iyer Thottam 2nd st ( Ward No.22 & 23) guideline value

The current guideline value of Iyer Thottam 2nd st ( Ward No.22 & 23) is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village and falls under the Madhavaram SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Iyer Thottam 2nd st ( Ward No.22 & 23) has changed

In the 2012 revision, the guideline value was Rs 1,200 per sq.ft. This figure remained unchanged in the 2023 revision, which also recorded Rs 1,200 per sq.ft. However, in the 2024 revision, the guideline value increased to Rs 1,300 per sq.ft, marking an 8% rise from the previous year. The register has no figures for the years 2002, 2003, 2007, and 2017 for this street.

Overall, from 2012 to 2024, the guideline value has increased by 8%. The change from 2023 to 2024 reflects a significant adjustment in the valuation, indicating a shift in the guideline value per sq.ft.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value for these streets is Rs 1,600 per sq.ft, placing Iyer Thottam 2nd st ( Ward No.22 & 23) below this median.

• Iyer Thottam 2nd Street (Ponniamman Medu): Rs 1,300 per sq.ft (2024)
• Iyer Thottam Cross St Connecting ( Ward No.22 ): Rs 1,300 per sq.ft (2024)
• Iyer Thottam 1st st ( Ward No.22 & 23): Rs 1,300 per sq.ft (2024)
• Iyer Thottam Cross Streets ( Ward No.22 & 23): Rs 1,300 per sq.ft (2024)
• Iyer Thottam 1st Street (Ponniamman Medu): Rs 1,300 per sq.ft (2024)
• Iyyappa Nagar 1st Cross Street (Ward 24): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Iyer Thottam 2nd st ( Ward No.22 & 23)

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, and the registration fee at 2% would be Rs 26,000, totaling 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.

You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Iyer Thottam 2nd st ( Ward No.22 & 23)?

The Iyer Thottam 2nd st ( Ward No.22 & 23) is covered by the Madhavaram Sub Registrar Office located at No.7, Roja Nagar, Madhavaram, Chennai-600060. For more information, you can find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Madhavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When a property is registered, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Iyer Thottam 2nd st?

The current guideline value of Iyer Thottam 2nd st ( Ward No.22 & 23) 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 remained at Rs 1,200 per sq.ft from 2012 to 2023 and increased to Rs 1,300 per sq.ft in 2024, marking an overall increase of 8% from 2012 to 2024.

What is the land classification for Iyer Thottam 2nd st?

The land classification for Iyer Thottam 2nd st ( Ward No.22 & 23) is Residential Class III Type - I.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is the stamp duty calculated for properties in Iyer Thottam 2nd st?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 13,00,000, the stamp duty at 7% would be Rs 91,000.