Guideline Value for MADAM ST

Madam St guideline value

The current guideline value of Madam St in Srikaligapuram village is Rs 150 per sq.ft, effective from the 2024 revision. This falls under the Ramakrishna Rajupettai SRO and is classified as Residential Class I Type - I.

How the guideline value of Madam St has changed

Over the years, the guideline value of Madam St has seen several revisions. The earliest recorded value is from 2007, set at Rs 40 per sq.ft. This increased to Rs 75 per sq.ft in 2012, then to Rs 50 per sq.ft in 2017, followed by a significant rise to Rs 150 per sq.ft in both 2023 and 2024. Notably, there are no figures available for the years 2002 and 2003 for this street.

From 2017 to 2023, the guideline value increased by 200%, and from 2012 to 2017, it decreased by 33%. The value rose by 88% from 2007 to 2012. Overall, from 2007 to 2024, there has been a substantial increase of 275% in the guideline value.

Guideline values in Srikaligapuram

In Srikaligapuram, there are 17 streets under the Ramakrishna Rajupettai SRO that carry a 2024 guideline value, with values ranging from Rs 150 to Rs 150 per sq.ft. The median value for these streets is Rs 150 per sq.ft, which is equal to the 2024 figure for Madam St.

• Kirubanantha Variyar St: Rs 150 per sq.ft (2024)
• Kamarajar St: Rs 150 per sq.ft (2024)
• Nehru St: Rs 150 per sq.ft (2024)
• Indra Nagar: Rs 150 per sq.ft (2024)
• Post Office St: Rs 150 per sq.ft (2024)
• Gandehi St: Rs 150 per sq.ft (2024)

Stamp duty and registration fee for property in Madam St

For a 1,000 sq.ft plot at the current guideline value of Rs 150 per sq.ft, the total guideline value amounts to Rs 1,50,000. The stamp duty at 7% would be Rs 10,500, and the registration fee at 2% would be Rs 3,000, making the total charges Rs 13,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Madam St?

The Madam St falls under the jurisdiction of the Ramakrishna Rajupettai Sub Registrar Office, located at Pallipattu Road, Rk Pettai 631 303, Chennai registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Srikaligapuram

The guideline value plays a crucial role during property transactions in Srikaligapuram. It is used to determine the stamp duty and registration fees that buyers must pay when registering a property. The guideline value ensures that the property is assessed at a standard rate, which helps in maintaining transparency in property transactions.

When buying or selling property, the guideline value is compared with the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees. This practice helps in ensuring that the taxes collected are based on a fair assessment of the property's worth.

Frequently asked questions

What is the current guideline value of Madam St?

The current guideline value of Madam St is Rs 150 per sq.ft, as per the 2024 revision effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value of Madam St has changed from Rs 40 per sq.ft in 2007 to Rs 150 per sq.ft in 2024, with various revisions occurring in between.

What is the land classification for Madam St?

Madam St is classified as Residential Class I Type - I, which indicates its designated use for residential purposes.

Where can I find the Sub Registrar Office for Madam St?

The Ramakrishna Rajupettai Sub Registrar Office covers Madam St, located at Pallipattu Road, Rk Pettai 631 303, Chennai registration zone.

How is stamp duty calculated for properties in Srikaligapuram?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. This ensures that the appropriate taxes are levied during the registration process.