Guideline Value for Keena Shop St ( Ward No.22 )

Keena Shop St ( Ward No.22 ) guideline value

The current guideline value of Keena Shop St ( Ward No.22 ) is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class III Type - I.

How the guideline value of Keena Shop St ( Ward No.22 ) has changed

The guideline value for Keena Shop St has undergone several revisions over the years. The earliest recorded figure is from 2012, where the guideline value was Rs 1,200 per sq.ft. This figure decreased to Rs 804 per sq.ft in 2017, marking a decline of 33%. However, in the 2024 revision, the value increased to Rs 1,300 per sq.ft, representing a significant rise of 62% from the 2017 figure.

It is noteworthy that there are no figures available for the years 2002, 2003, 2007, and 2023 for this street. Overall, from 2012 to 2024, the guideline value has increased by 8%.

Guideline values in Madhavaram

In Madhavaram, there are a total of 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 value for these streets is Rs 1,600 per sq.ft, which means that the guideline value of Keena Shop St is below this median.

• Kesavan Nagar: Rs 1,300 per sq.ft (2024)
• Kesava Perumal Avenue, Sarathy Nagar (Ward-26): Rs 1,300 per sq.ft (2024)
• KGL Nagar (Ward-30): Rs 1,300 per sq.ft (2024)
• Kilbarns Nagar: Rs 1,600 per sq.ft (2024)
• Kilbarns Nagar Extension: Rs 1,600 per sq.ft (2024)
• Kilburn Nagar Roads ( Ward No.11 ): Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Keena Shop St ( Ward No.22 )

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, and the registration fee at 2% would be Rs 26,000, bringing the total to Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Keena Shop St ( Ward No.22 )?

The Sub Registrar Office that covers Keena Shop St ( Ward No.22 ) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Madhavaram, as it determines the minimum price at which a property can be registered. Buyers and sellers must consider this value when negotiating the sale price, as the registration fees and stamp duty are calculated based on the guideline value or the sale price, whichever is higher.

When a property is sold, the registration process involves paying the applicable stamp duty and registration fees, which are derived from the guideline value. This ensures that the transaction is officially recorded and legally recognized.

Frequently asked questions

What is the current guideline value of Keena Shop St ( Ward No.22 )?

The current guideline value of Keena Shop St ( Ward No.22 ) 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, and then to Rs 1,300 per sq.ft in 2024. There are no figures available for the years 2002, 2003, 2007, and 2023 for this street.

What is the land classification of Keena Shop St ( Ward No.22 )?

Keena Shop St ( Ward No.22 ) is classified as Residential Class III Type - I. This classification indicates the type of development and usage allowed in the area.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles the registration of properties in the area.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at 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.