Guideline Value for M.R.H. Road (Ward-11)

M.R.H. Road (Ward-11) guideline value

The current guideline value of M.R.H. Road (Ward-11) is Rs 3,300 per sq.ft, effective from 1 July 2024. This road is located in Madhavaram village, under the Madhavaram SRO, and is classified as Commercial Class I Type - I.

How the guideline value of M.R.H. Road (Ward-11) has changed

The guideline value for M.R.H. Road (Ward-11) has undergone several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which decreased to Rs 2,010 per sq.ft in the 2017 revision. In a significant change, the 2024 revision increased the value to Rs 3,300 per sq.ft, marking a 64% rise from the 2017 figure.

Overall, from the 2012 revision to the 2024 revision, the guideline value has seen a modest increase of 10%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2023 for this street.

Guideline values in Madhavaram

Madhavaram village has a range of guideline values across its 1,946 streets, with the 2024 figures 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.R.H. Road (Ward-11) above this median.

• MRH Road (Ward-10): Rs 3,000 per sq.ft (2024)
• MRH Road (Ward-14): Rs 3,000 per sq.ft (2024)
• M.R.H. Road: Rs 3,300 per sq.ft (2024)
• MRH Road (Ward-18): Rs 3,300 per sq.ft (2024)
• M.P. Vedha Street: Rs 1,300 per sq.ft (2024)
• M.P. Vedhachalam Street: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in M.R.H. Road (Ward-11)

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, totaling 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. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers M.R.H. Road (Ward-11)?

The Sub Registrar Office that covers M.R.H. Road (Ward-11) 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 plays a crucial role in the registration process of property transactions in Madhavaram. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property.

During the registration process, the guideline value is compared with the sale price, and the duty is charged on the higher of the two. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of M.R.H. Road (Ward-11)?

The current guideline value of M.R.H. Road (Ward-11) 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, and then increased to Rs 3,300 per sq.ft in 2024.

What is the median guideline value in Madhavaram?

The median guideline value in Madhavaram is Rs 1,600 per sq.ft, with M.R.H. Road (Ward-11) being above this median.

What are the stamp duty and registration fees for properties in M.R.H. Road (Ward-11)?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot at Rs 3,300 per sq.ft, the total stamp duty and registration fees would be Rs 2,97,000.

Where is the Sub Registrar Office for M.R.H. Road (Ward-11)?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.