Guideline Value for M.H. Road (Ward-05)

M.H. Road (Ward-05) guideline value

The current guideline value of M.H. Road (Ward-05) is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village, under the Madhavaram SRO, and is classified as Commercial Class I Type - I.

How the guideline value of M.H. Road (Ward-05) has changed

The guideline value for M.H. Road (Ward-05) has seen several revisions over the years. Starting from the 2012 revision, the value was Rs 3,000 per sq.ft, which then decreased to Rs 2,010 per sq.ft in the 2017 revision. The 2023 revision increased the value to Rs 3,000 per sq.ft, and the latest 2024 revision has set it at Rs 3,300 per sq.ft. The register has no figure for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, the value decreased by 33%. However, from 2017 to 2023, there was a significant increase of 49%. The change from the 2023 to 2024 revision reflects a 10% increase, bringing the overall change from 2012 to 2024 to a 10% rise.

Guideline values in Madhavaram

In Madhavaram village, the guideline values for streets under the Madhavaram SRO range from Rs 1,300 to Rs 7,500 per sq.ft, with a median value of Rs 1,600 per sq.ft. The guideline value of M.H. Road (Ward-05) is above this median.

• M.H. Road (Ward-08): Rs 3,300 per sq.ft (2024)
• Micetich Colony (Ward-18): Rs 1,600 per sq.ft (2024)
• M.G.R. St (Ward No.22): Rs 1,300 per sq.ft (2024)
• M.G.R.Street (Ward No.7): Rs 1,300 per sq.ft (2024)
• Milk Colony Main Road (Ward-16): Rs 1,600 per sq.ft (2024)
• Milk Colony Officers Qtrs (Ward-03): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in M.H. Road (Ward-05)

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers M.H. Road (Ward-05)?

The M.H. Road (Ward-05) is covered by 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 an essential factor in the registration process of property transactions in Madhavaram. It serves as a benchmark for determining the stamp duty and registration fees applicable during the buying or selling of property.

When a property is registered, the guideline value is considered to ensure that the transaction is recorded accurately. Buyers and sellers must be aware of the guideline value to understand the financial implications involved in property transactions.

Frequently asked questions

What is the current guideline value of M.H. Road (Ward-05)?

The current guideline value of M.H. Road (Ward-05) is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What is the land classification for M.H. Road (Ward-05)?

The land classification for M.H. Road (Ward-05) is Commercial Class I Type - I.

Which office handles registrations for M.H. Road (Ward-05)?

The Madhavaram Sub Registrar Office handles registrations for M.H. Road (Ward-05), located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is stamp duty calculated for properties in M.H. Road (Ward-05)?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For instance, a property valued at Rs 33,00,000 would incur a stamp duty of Rs 2,31,000 at 7%.