Guideline Value for MADAM STREET

Madam Street guideline value

The current guideline value of Madam Street in KANCHIPURAM TOWN 3rd DIVISION is Rs 2,200 per sq.ft, effective from 1 July 2024. This street falls under the Kanchipuram Joint II SRO and is classified as Residential Class I Type - II.

How the guideline value of Madam Street has changed

The guideline value for Madam Street has seen several revisions over the years. In 2003, the value was Rs 321 per sq.ft, which increased to Rs 400 per sq.ft in 2007. Following this, the value surged to Rs 2,000 per sq.ft in 2012, before dropping to Rs 1,340 per sq.ft in 2017. The 2023 revision set the value at Rs 2,000 per sq.ft, and the most recent 2024 revision raised it to Rs 2,200 per sq.ft.

Notably, the changes between revisions include a 25% increase from 2003 to 2007, a 400% rise from 2007 to 2012, a 33% decrease from 2012 to 2017, and a significant 49% increase from 2017 to 2023. The latest revision from 2023 to 2024 reflects a 10% increase. The register has no figure for Madam Street for the year 2002.

Guideline values in KANCHIPURAM TOWN 3rd DIVISION

In KANCHIPURAM TOWN 3rd DIVISION, there are 48 streets under the Kanchipuram Joint II SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 5,500 per sq.ft, with a median of Rs 1,320 per sq.ft. Madam Street's 2024 guideline value is above this median.

• Lingappan Palayam Street: Rs 880 per sq.ft (2024)
• Mandaba Street: Rs 1,650 per sq.ft (2024)
• Mandu Kanneswarar Koil Street: Rs 1,320 per sq.ft (2024)
• Krishnan Street: Rs 1,100 per sq.ft (2024)
• Mathanam Palayam Street: Rs 880 per sq.ft (2024)
• Kavalan Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Madam Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. Please 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 Madam Street?

The Sub Registrar Office that covers Madam Street is the Kanchipuram Joint II Sub Registrar Office, located at Kamarajar Road, Taluk Office Campus, Kanchipuram-631 501, Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in KANCHIPURAM TOWN 3rd DIVISION

The guideline value is an essential factor when registering property transactions in KANCHIPURAM TOWN 3rd DIVISION. It serves as a benchmark for determining the stamp duty and registration fees payable during the sale or purchase of property.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation or overvaluation. This process helps maintain transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Madam Street?

The current guideline value of Madam Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has undergone several revisions, increasing from Rs 321 per sq.ft in 2003 to Rs 2,200 per sq.ft in 2024, with various increases and decreases in between.

What is the registration office for Madam Street?

The registration office for Madam Street is the Kanchipuram Joint II Sub Registrar Office, located at Kamarajar Road, Taluk Office Campus, Kanchipuram-631 501, Chengalpattu registration zone.

How is the stamp duty calculated for property in Madam Street?

Stamp duty for property in Madam Street is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 1,54,000.

What are the other streets in KANCHIPURAM TOWN 3rd DIVISION?

Other streets in KANCHIPURAM TOWN 3rd DIVISION include Lingappan Palayam Street, Mandaba Street, Mandu Kanneswarar Koil Street, Krishnan Street, Mathanam Palayam Street, and Kavalan Street, with varying guideline values.