Guideline Value for Jagadambal St (Ward-06)

Jagadambal St (Ward-06) guideline value

The current guideline value of Jagadambal St (Ward-06) is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village, falling under the Madhavaram SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Jagadambal St (Ward-06) has changed

The guideline value for Jagadambal St has undergone several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which remained unchanged until the 2023 revision. In 2023, the guideline value was updated to Rs 1,200 per sq.ft, and then increased to Rs 1,300 per sq.ft in the 2024 revision, reflecting an 8% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2017 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 8%.

Guideline values in Madhavaram

The guideline values in Madhavaram range from Rs 1,300 to Rs 7,500 per sq.ft as per the 2024 revision, with a median value of Rs 1,600 per sq.ft. The guideline value for Jagadambal St is below this median.

• Iyyar Thottam 1St St,Ponniammanmedu (Ward-22): Rs 1,300 per sq.ft (2024)
• Iyyappa Nagar (Ward-29): Rs 1,300 per sq.ft (2024)
• Iyyappa Nagar (Ward 24): Rs 1,300 per sq.ft (2024)
• Iyyappa Nagar Main Road ( Ward No.24 ): Rs 1,300 per sq.ft (2024)
• Iyyappa Nagar Extension: Rs 1,300 per sq.ft (2024)
• Iyyappa Nagar 3rd st ( Ward No.24 ): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Jagadambal St (Ward-06)

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

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

Which Sub Registrar Office covers Jagadambal St (Ward-06)?

The Sub Registrar Office that covers Jagadambal St (Ward-06) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. To find your specific SRO, you can find your SRO.

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

The guideline value plays a crucial role 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 government receives appropriate revenue through stamp duty and registration fees.

When a property is sold, the transaction must be registered at the relevant Sub Registrar Office. The buyer must pay the applicable stamp duty and registration fees based on the guideline value or the sale price, whichever is higher, ensuring compliance with legal requirements.

Frequently asked questions

What is the current guideline value of Jagadambal St (Ward-06)?

The current guideline value of Jagadambal St (Ward-06) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Jagadambal St has increased from Rs 1,200 per sq.ft in 2012 to Rs 1,300 per sq.ft in 2024, marking an overall increase of 8%.

What are the other streets in Madhavaram with similar guideline values?

Other streets in Madhavaram, such as Iyyar Thottam 1St St and Iyyappa Nagar, also have a guideline value of Rs 1,300 per sq.ft for 2024.

What are the stamp duty and registration fees for properties in Jagadambal St?

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000, and the registration fee would be Rs 26,000, totaling Rs 1,17,000.

Where can I find the Sub Registrar Office for Jagadambal St?

The Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060, covers Jagadambal St (Ward-06).