Guideline Value for M.H. Road (Ward-08)

M.H. Road (Ward-08) guideline value

The current guideline value of M.H. Road (Ward-08) 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-08) has changed

Looking at the revisions, the guideline value for M.H. Road (Ward-08) has seen several changes over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which was a decrease of 33% from Rs 2,010 per sq.ft in the 2017 revision. In the 2023 revision, the value increased to Rs 3,000 per sq.ft, and the most recent 2024 revision has raised it to Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year.

Between the 2017 and 2023 revisions, there was a significant increase of 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Madhavaram

In Madhavaram village, there are 1,946 streets under the Madhavaram SRO with a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value in the village is Rs 1,600 per sq.ft, placing M.H. Road (Ward-08) above this median.

• M.H. Road (Ward-05): 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-08)

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. 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.H. Road (Ward-08)?

The Sub Registrar Office that covers M.H. Road (Ward-08) is the Madhavaram Sub Registrar Office, located at 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 plays a crucial role in the registration process of property transactions in Madhavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction reflects a fair value for tax purposes.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory charges that must be settled during the registration process. This ensures transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value of M.H. Road (Ward-08)?

The current guideline value of M.H. Road (Ward-08) 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 2023 to Rs 3,300 per sq.ft in 2024, marking a 10% increase. It was Rs 2,010 per sq.ft in 2017, and the value saw a 49% increase to Rs 3,000 per sq.ft in 2023.

What is the land classification for M.H. Road (Ward-08)?

M.H. Road (Ward-08) is classified as Commercial Class I Type - I, indicating its use for commercial purposes.

Where can I find the Sub Registrar Office for M.H. Road (Ward-08)?

The Sub Registrar Office for M.H. Road (Ward-08) is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is stamp duty calculated for properties in M.H. Road (Ward-08)?

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