Guideline Value for Kanagan Chathiram (Ward-30)

Kanagan Chathiram (Ward-30) guideline value

The current guideline value of Kanagan Chathiram (Ward-30) is Rs 1,300 per sq.ft. 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 Kanagan Chathiram (Ward-30) has changed

The guideline value for Kanagan Chathiram (Ward-30) has undergone several revisions over the years. The most recent revision in 2024 set the guideline value at Rs 1,300 per sq.ft, an increase of 8% from the 2023 revision of Rs 1,200 per sq.ft. Prior to that, the 2012 revision also recorded a guideline value of Rs 1,200 per sq.ft. The register has no figures for the years 2002, 2003, 2007, and 2017 for this street.

From the overall perspective, the guideline value has increased by 8% from Rs 1,200 per sq.ft in 2012 to Rs 1,300 per sq.ft in 2024. The 2023 to 2024 revision reflects a notable change, while the 2012 to 2023 period shows no change in the guideline value.

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. The median guideline value for the village is Rs 1,600 per sq.ft, placing the 2024 figure for Kanagan Chathiram (Ward-30) below this median.

• Kanaga Chatiram (Ward 20): Rs 1,300 per sq.ft (2024)
• Kamsan Nagar (Ward-8): Rs 2,200 per sq.ft (2024)
• Kanchi Nagar: Rs 1,300 per sq.ft (2024)
• Kanchi Nagar Extension: Rs 1,300 per sq.ft (2024)
• Kanchi Nagar Road (Ward No.29): Rs 1,300 per sq.ft (2024)
• Kanchi Nagar (Ward-29): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kanagan Chathiram (Ward-30)

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 be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total 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.

You can use the stamp duty and registration fee calculator for more details on fees applicable to your property transaction.

Which Sub Registrar Office covers Kanagan Chathiram (Ward-30)?

The Sub Registrar Office covering Kanagan Chathiram (Ward-30) is 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 an essential factor during the registration of property transactions in Madhavaram. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when buying or selling property.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kanagan Chathiram (Ward-30)?

The current guideline value of Kanagan Chathiram (Ward-30) 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 increased from Rs 1,200 per sq.ft in 2012 to Rs 1,300 per sq.ft in 2024, reflecting an overall increase of 8%. There were no figures available for the years 2002, 2003, 2007, and 2017.

What is the land classification for Kanagan Chathiram (Ward-30)?

Kanagan Chathiram (Ward-30) is classified as Residential Class III Type - I. This classification is relevant for determining the guideline value and other regulatory aspects.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2%. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 1,17,000.

Which Sub Registrar Office covers Kanagan Chathiram (Ward-30)?

The Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060, covers Kanagan Chathiram (Ward-30). This office handles all property registrations in the area.