Guideline Value for M.D.Swamy Nagar Rd ( Ward No.3 )

M.D.Swamy Nagar Rd ( Ward No.3 ) guideline value

The current guideline value of M.D.Swamy Nagar Rd ( Ward No.3 ) is Rs 1,300 per sq.ft, effective from 1 July 2024. This road is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class III Type - I.

How the guideline value of M.D.Swamy Nagar Rd ( Ward No.3 ) has changed

Over the years, the guideline value for M.D.Swamy Nagar Rd has seen several revisions. The 2012 revision set the value at Rs 1,200 per sq.ft, which was followed by a decrease to Rs 804 per sq.ft in the 2017 revision. The guideline value then increased to Rs 1,200 per sq.ft in 2023, and currently stands at Rs 1,300 per sq.ft from the 2024 revision. Notably, there are no figures available for the years 2002, 2003, and 2007.

From 2012 to 2017, the value decreased by 33%, but it then increased significantly by 49% from 2017 to 2023. The change from 2023 to 2024 reflects an 8% increase. Overall, the guideline value has increased by 8% from 2012 to 2024.

Guideline values in Madhavaram

In Madhavaram village, 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, indicating that M.D.Swamy Nagar Rd's 2024 figure is below this median.

• M.D. Swamy Nagar (Ward-03): Rs 1,300 per sq.ft (2024)
• M.D. Veera Swamy Nagar (Ward-03): Rs 1,300 per sq.ft (2024)
• M.C. Sundharavarathan Nagar: Rs 1,600 per sq.ft (2024)
• M.C.R. Street (Ward-10): Rs 1,600 per sq.ft (2024)
• M.C.R.Nagar ( Ward No.10 ): Rs 1,600 per sq.ft (2024)
• Medimix Road ( Ward No.18 ): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in M.D.Swamy Nagar Rd ( Ward No.3 )

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 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 information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers M.D.Swamy Nagar Rd ( Ward No.3 )?

The Sub Registrar Office that covers M.D.Swamy Nagar Rd ( Ward No.3 ) is located at Madhavaram Sub Registrar Office, No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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 stamp duty and registration fees that need to be paid during the transaction.

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

Frequently asked questions

What is the current guideline value of M.D.Swamy Nagar Rd ( Ward No.3 )?

The current guideline value of M.D.Swamy Nagar Rd ( Ward No.3 ) 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 increased to Rs 1,200 per sq.ft in 2023, and is now Rs 1,300 per sq.ft in 2024.

What is the land classification for M.D.Swamy Nagar Rd?

M.D.Swamy Nagar Rd is classified as Residential Class III Type - I according to the Madhavaram SRO guidelines.

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

The stamp duty is 7% of the guideline value or sale price, while the registration fee is 2%. For example, a 1,000 sq.ft plot at the current rate would incur a total of Rs 1,17,000 in duties and fees.

Which Sub Registrar Office covers this area?

The Madhavaram Sub Registrar Office at No.7, Roja Nagar, Madhavaram, Chennai-600060 covers M.D.Swamy Nagar Rd ( Ward No.3 ).