Guideline Value for MADHAVAN NAGAR

Madhavan Nagar guideline value

The current guideline value of Madhavan Nagar is Rs 302 per sq.ft, effective from 1 July 2024. This area is located in Jeganathapuram_2 village, under the Ponneri SRO, and 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 significant changes over the years. The 2017 revision recorded a guideline value of Rs 67 per sq.ft, which increased to Rs 100 per sq.ft in the 2023 revision. The most recent 2024 revision shows a substantial rise to Rs 302 per sq.ft, marking an increase of 202% from the previous year and an overall increase of 351% from 2017 to 2024.

It is important to note that the register has no figures for Madhavan Nagar for the years 2002, 2003, 2007, and 2012. The transition from Rs 67 per sq.ft in 2017 to Rs 100 per sq.ft in 2023 reflects a 49% increase, highlighting the notable changes in the guideline value over time.

Guideline values in Jeganathapuram_2

In Jeganathapuram_2, there are four streets under the Ponneri SRO that carry a 2024 guideline value ranging from Rs 302 to Rs 1,500 per sq.ft, with a median value of Rs 514 per sq.ft. Madhavan Nagar's 2024 figure is below this median.

• Mahalakshmi Nagar: Rs 725 per sq.ft (2024)
• Sri Thirumalai Nagar: Rs 302 per sq.ft (2024)
• Jayadev: Rs 1,500 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 302 per sq.ft, the total guideline value would be Rs 3,02,000. The stamp duty at 7% would amount to Rs 21,140, and the registration fee at 2% would be Rs 6,040, bringing the total cost for these fees to Rs 27,180. It is important to note that the duty is charged on the higher of the guideline value or 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 Sub Registrar Office covering Madhavan Nagar is the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. For more information, you can find your SRO.

How the guideline value is used when you buy or sell in Jeganathapuram_2

The guideline value is a crucial factor when registering property transactions in Jeganathapuram_2. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue based on the property's value.

When buying or selling property, the guideline value helps in determining the minimum price at which the property can be registered. This ensures transparency and fairness in property transactions, aligning the sale price with the officially recognized values.

Frequently asked questions

What is the current guideline value of Madhavan Nagar?

The current guideline value of Madhavan Nagar is Rs 302 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 67 per sq.ft in 2017 to Rs 100 per sq.ft in 2023, and then to Rs 302 per sq.ft in 2024. This reflects an overall increase of 351% from 2017 to 2024.

What are the guideline values for other streets in Jeganathapuram_2?

Other streets in Jeganathapuram_2 include Mahalakshmi Nagar at Rs 725 per sq.ft, Sri Thirumalai Nagar at Rs 302 per sq.ft, and Jayadev at Rs 1,500 per sq.ft, all based on the 2024 revision.

What fees are associated with property registration in Madhavan Nagar?

For a property in Madhavan Nagar, the stamp duty is 7% and the registration fee is 2% of the guideline value. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 27,180.

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

The Sub Registrar Office for Madhavan Nagar is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find more details on the official website.