Guideline Value for MADHA NAGAR

Madha Nagar guideline value

The current guideline value of Madha Nagar, located in Naduveerapattu village under the Padappai SRO, is Rs 440 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - I land classification.

How the guideline value of Madha Nagar has changed

The guideline value for Madha Nagar has seen several revisions over the years. The earliest recorded figure is Rs 268 per sq.ft from the 2017 revision. This increased to Rs 400 per sq.ft in 2023, representing a 49% rise. The most recent revision in 2024 has set the guideline value at Rs 440 per sq.ft, marking a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street. Overall, from 2017 to 2024, the guideline value has increased by 64%.

Guideline values in Naduveerapattu

Naduveerapattu village has a total of 96 streets under the Padappai SRO, with guideline values ranging from Rs 330 to Rs 2,500 per sq.ft as of 2024. The median guideline value in the village is Rs 660 per sq.ft, which means Madha Nagar's current guideline value is below this median.

• Malar Nagar: Rs 2,010 per sq.ft (2024)
• Lakshmi Nagar Extn: Rs 550 per sq.ft (2024)
• Lakshmi Nagar: Rs 550 per sq.ft (2024)
• Metbeev Nagar: Rs 550 per sq.ft (2024)
• Mettis: Rs 550 per sq.ft (2024)
• Krishna Nagar: Rs 330 per sq.ft (2024)

Stamp duty and registration fee for property in Madha Nagar

For a property measuring 1,000 sq.ft at the current guideline value of Rs 440 per sq.ft, the total guideline value amounts to Rs 4,40,000. The stamp duty, charged at 7%, would be Rs 30,800, while the registration fee at 2% would be Rs 8,800. Therefore, the total cost for stamp duty and registration fees would be Rs 39,600. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Madha Nagar?

The Sub Registrar Office that covers Madha Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

When buying or selling property in Naduveerapattu, the guideline value plays a crucial role in determining the stamp duty and registration fees. The guideline value is set by the Registration Department and reflects the minimum value for property transactions in the area.

It is essential for buyers and sellers to be aware of the guideline value as it affects the overall cost of property transactions. The higher the guideline value, the more you may need to pay in stamp duty and registration fees, which are calculated based on this value.

Frequently asked questions

What is the current guideline value of Madha Nagar?

The current guideline value of Madha Nagar is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 268 per sq.ft in 2017 to Rs 400 per sq.ft in 2023, and now to Rs 440 per sq.ft in 2024. This reflects an overall increase of 64% from 2017 to 2024.

What are the other streets in Naduveerapattu?

Other streets in Naduveerapattu include Malar Nagar, Lakshmi Nagar Extn, Lakshmi Nagar, Metbeev Nagar, Mettis, and Krishna Nagar, with varying guideline values for 2024.

What are the stamp duty and registration fees for property in Madha Nagar?

For a property valued at Rs 4,40,000, the stamp duty would be Rs 30,800 and the registration fee would be Rs 8,800, totaling Rs 39,600. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Madha Nagar?

The Padappai Sub Registrar Office covers Madha Nagar and is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.