Guideline Value for MADHA TOWN EXTENSION - I

Madha Town Extension - I guideline value

The current guideline value of Madha Town Extension - I is Rs 3,850 per sq.ft, effective from 1 July 2024. This property is located in Kerugambakkam village and falls under the Pammal Sub Registrar Office (SRO). The land classification for this area is Mixed Special Type - I.

How the guideline value of Madha Town Extension - I has changed

Over the years, the guideline value for Madha Town Extension - I has seen several revisions. The register has no figure for this street for the years 2002, 2003, 2007, 2012, and 2017. In 2023, the guideline value was recorded at Rs 3,500 per sq.ft, which increased to Rs 3,850 per sq.ft in the 2024 revision, reflecting a change of +10%.

The most recent revision in 2024 established the guideline value at Rs 3,850 per sq.ft. This is a significant increase from the previous year's value of Rs 3,500 per sq.ft, marking a notable change in the property valuation for this area.

Guideline values in Kerugambakkam

In Kerugambakkam, there are 144 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 4,800 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing the 2024 figure for Madha Town Extension - I above the median.

• Madha Town Extn: Rs 2,860 per sq.ft (2024)
• Madha Town Madha Town: Rs 2,860 per sq.ft (2024)
• Maansarovar Nagar: Rs 3,450 per sq.ft (2024)
• Lendi Garden: Rs 1,980 per sq.ft (2024)
• Leelavathy Nagar: Rs 1,980 per sq.ft (2024)
• Lakshmi Nagar (ward 6): Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Madha Town Extension - I

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty, charged at 7%, would be Rs 2,69,500, and the registration fee, charged at 2%, would be Rs 77,000, bringing the total fees to Rs 3,46,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Madha Town Extension - I?

The Sub Registrar Office that covers Madha Town Extension - I is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kerugambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented accurately in accordance with local regulations.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are essential components of the property transaction process. Buyers and sellers must be aware of the guideline value to ensure compliance with legal requirements and to facilitate a smooth registration process.

Frequently asked questions

What is the current guideline value of Madha Town Extension - I?

The current guideline value of Madha Town Extension - I is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Madha Town Extension - I has seen revisions in 2023 and 2024. The value increased from Rs 3,500 per sq.ft in 2023 to Rs 3,850 per sq.ft in 2024, marking a +10% change.

What are the other streets in Kerugambakkam?

Other streets in Kerugambakkam include Madha Town Extn, Madha Town Madha Town, Maansarovar Nagar, Lendi Garden, Leelavathy Nagar, and Lakshmi Nagar (ward 6), with varying guideline values for 2024.

Where can I find the Pammal Sub Registrar Office?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone.

How is the stamp duty calculated for properties in Madha Town Extension - I?

Stamp duty for properties in Madha Town Extension - I 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 incurs a total stamp duty of Rs 2,69,500.