Guideline Value for MADHAVAN NAGAR

Madhavan Nagar guideline value

The current guideline value of Madhavan Nagar, located in Jeganathapuram village under the Ponneri SRO, is Rs 100 per sq.ft, effective from 1 July 2024. This land is classified as Residential Class II Type - I.

How the guideline value of Madhavan Nagar has changed

The guideline value for Madhavan Nagar has seen several revisions over the years. The earliest available revision is from 2012, which set the value at Rs 100 per sq.ft. In 2017, this figure was revised to Rs 67 per sq.ft, reflecting a decrease of 33%. However, by 2023, the guideline value was restored to Rs 100 per sq.ft, and it remained unchanged in the 2024 revision.

From 2017 to 2023, there was a significant increase of 49%. Overall, from 2012 to 2024, the guideline value has remained at Rs 100 per sq.ft, indicating stability in the recent revisions. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Jeganathapuram

In Jeganathapuram, there are 7 streets under the Ponneri SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 1,500 per sq.ft. The median guideline value in this area is Rs 100 per sq.ft, placing Madhavan Nagar at the same level as this median.

• Mars Royal City: Rs 1,000 per sq.ft (2024)
• Ganesh Nagar: Rs 100 per sq.ft (2024)
• Sai Kirupa Nagar: Rs 100 per sq.ft (2024)
• Sri Nagar: Rs 100 per sq.ft (2024)
• Jayadev: Rs 1,500 per sq.ft (2024)
• Kshetra: Rs 1,493 per sq.ft (2024)

Stamp duty and registration fee for property in Madhavan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 100 per sq.ft, the total guideline value would be Rs 1,00,000. The stamp duty at 7% would amount to Rs 7,000, and the registration fee at 2% would be Rs 2,000, bringing the total cost to Rs 9,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Madhavan Nagar?

The Madhavan Nagar area is covered by the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process of property transactions in Jeganathapuram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value is referenced to calculate the applicable charges. Buyers should be aware that the stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price, which ensures transparency in property transactions.

Frequently asked questions

What is the current guideline value of Madhavan Nagar?

The current guideline value of Madhavan Nagar is Rs 100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, with the most recent revision in 2024 maintaining the value at Rs 100 per sq.ft. The value was Rs 67 per sq.ft in 2017 and was Rs 100 per sq.ft in 2012.

What is the stamp duty for property in Madhavan Nagar?

The stamp duty for property in Madhavan Nagar is 7% of the guideline value or the sale price, whichever is higher. For example, for a plot valued at Rs 1,00,000, the stamp duty would be Rs 7,000.

Where is the Sub Registrar Office for Madhavan Nagar?

The Sub Registrar Office covering Madhavan Nagar is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.

What is the land classification for Madhavan Nagar?

Madhavan Nagar is classified as Residential Class II Type - I, indicating its intended use for residential purposes.