Guideline Value for Kesava Perumal Avenue, Sarathy Nagar (Ward-26)

Kesava Perumal Avenue, Sarathy Nagar (Ward-26) guideline value

The current guideline value of Kesava Perumal Avenue, Sarathy Nagar (Ward-26) is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village under the Madhavaram SRO, classified as Residential Class III Type - I.

How the guideline value of Kesava Perumal Avenue, Sarathy Nagar (Ward-26) has changed

The guideline value for Kesava Perumal Avenue has seen several revisions over the years. In 2012, the value was set at Rs 1,200 per sq.ft. This figure then decreased to Rs 804 per sq.ft in 2017. Following this, the value increased to Rs 1,200 per sq.ft in 2023, and most recently, it has risen to Rs 1,300 per sq.ft in 2024, marking an 8% increase from the previous year.

Between the revisions, the most notable change occurred from 2017 to 2023, where the guideline value increased by 49%. The overall change from 2012 to 2024 reflects a modest increase of 8%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street.

Guideline values in Madhavaram

In Madhavaram, there are 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 these streets is Rs 1,600 per sq.ft, placing Kesava Perumal Avenue's 2024 figure below this median.

• Kesavan Nagar: 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)
• Keena Shop St (Ward No.22): Rs 1,300 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 Kesava Perumal Avenue, Sarathy Nagar (Ward-26)

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, bringing the total cost for these 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 also use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Kesava Perumal Avenue, Sarathy Nagar (Ward-26)?

The Sub Registrar Office that covers Kesava Perumal Avenue is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. For further assistance, 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 property transactions in Madhavaram. It serves as the basis for calculating stamp duty and registration fees, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, both the buyer and seller must be aware of the guideline value, as it affects the overall cost of the transaction. It is essential to refer to the latest revisions to understand the current value applicable to the property.

Frequently asked questions

What is the current guideline value of Kesava Perumal Avenue?

The current guideline value of Kesava Perumal Avenue, Sarathy Nagar (Ward-26) 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, then to Rs 1,200 per sq.ft in 2023, and currently to Rs 1,300 per sq.ft in 2024.

What is the land classification for Kesava Perumal Avenue?

Kesava Perumal Avenue is classified as 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 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 1,000 sq.ft plot at Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000.