Guideline Value for MADHANAKUPPAM ROAD

Madhanakuppam Road guideline value

The current guideline value of Madhanakuppam Road is Rs 2,100 per sq.ft, effective from 1 July 2024. This road is located in Korattur village, under the jurisdiction of the Villivakkam SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Madhanakuppam Road has changed

In the 2012 revision, the guideline value for Madhanakuppam Road was Rs 2,000 per sq.ft. This figure remained unchanged in the 2023 revision, where it was still Rs 2,000 per sq.ft. However, in the 2024 revision, the guideline value increased to Rs 2,100 per sq.ft, marking a 5% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, there has been a total increase of 5%. The register has no figures for the years 2002, 2003, 2007, and 2017 for this street.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 8,200 per sq.ft. The median guideline value for these streets is Rs 2,500 per sq.ft, making the 2024 figure for Madhanakuppam Road below that median.

• Madhava Nagar: Rs 1,300 per sq.ft (2024)
• Ma.Chandran Nagar: Rs 1,300 per sq.ft (2024)
• Maada Street: Rs 1,600 per sq.ft (2024)
• Maduravoyal Service Road: Rs 2,900 per sq.ft (2024)
• Mahalakshmi Nagar: Rs 1,600 per sq.ft (2024)
• Malar Nagar Mgr.Street: Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in Madhanakuppam Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,100 per sq.ft, the total guideline value amounts to Rs 21,00,000. The stamp duty is charged at 7%, totaling Rs 1,47,000, while the registration fee is charged at 2%, amounting to Rs 42,000. Together, the total cost for stamp duty and registration fee would be Rs 1,89,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Madhanakuppam Road?

The Madhanakuppam Road falls under the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. To find your specific SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Korattur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property transaction.

When you register a property, the guideline value is compared to the sale price, and the higher value is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Madhanakuppam Road?

The current guideline value of Madhanakuppam Road is Rs 2,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 2,000 per sq.ft in 2012 to Rs 2,100 per sq.ft in 2024. There was no change in the value from 2012 to 2023, and the overall increase from 2012 to 2024 is 5%.

What are the stamp duty and registration fees for properties on Madhanakuppam Road?

For a property valued at Rs 21,00,000, the stamp duty would be Rs 1,47,000, and the registration fee would be Rs 42,000, totaling Rs 1,89,000.

Which office handles registrations for Madhanakuppam Road?

The Villivakkam Sub Registrar Office handles registrations for Madhanakuppam Road. It is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the land classification for Madhanakuppam Road?

The land classification for Madhanakuppam Road is Residential Class III Type - I, indicating its designation for residential purposes.