Guideline Value for MADHAVAN NAGAR

Madhavan Nagar guideline value

The current guideline value of Madhavan Nagar is Rs 100 per sq.ft, effective from 1 July 2024. This locality is situated in Jeganathapuram_3 village, under the Ponneri SRO, and is classified as Residential Class II Type - I.

How the guideline value of Madhavan Nagar has changed

In the 2017 revision, the guideline value for Madhavan Nagar was set at Rs 67 per sq.ft. This value increased to Rs 100 per sq.ft in the 2023 revision, marking a significant rise of 49%. The same Rs 100 per sq.ft figure was retained in the 2024 revision, indicating no change from the previous year.

The register has no figures for the years 2002, 2003, 2007, and 2012 for this street. Overall, from 2017 to 2024, the guideline value has increased by 49%.

Guideline values in Jeganathapuram_3

In Jeganathapuram_3, three streets have a guideline value for 2024, ranging from Rs 100 to Rs 1,083 per sq.ft, with a median value of Rs 500 per sq.ft. Madhavan Nagar's current guideline value is below this median.

• Mahalakshmi Nagar: Rs 1,083 per sq.ft (2024)
• Sumangali Plotza: Rs 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 rate of Rs 100 per sq.ft, the guideline value would be Rs 1,00,000. The stamp duty at 7% would amount to Rs 7,000, while the registration fee at 2% would be Rs 2,000, totaling Rs 9,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Madhavan Nagar?

The Madhavan Nagar area falls under the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Jeganathapuram_3

The guideline value is a crucial factor during property registration in Jeganathapuram_3. It serves as a benchmark for determining the stamp duty and registration fees that are payable when buying or selling property in the area.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, which is essential for taxation purposes. Buyers and sellers should be aware of the current guideline value to ensure compliance with local regulations.

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?

Since 2017, the guideline value has increased from Rs 67 per sq.ft to Rs 100 per sq.ft in both 2023 and 2024, reflecting a total increase of 49% over this period.

What are the guideline values of other streets in Jeganathapuram_3?

Other streets in Jeganathapuram_3 include Mahalakshmi Nagar, which has a guideline value of Rs 1,083 per sq.ft, and Sumangali Plotza, with a value of Rs 500 per sq.ft for 2024.

What fees are associated with property registration in Madhavan Nagar?

When registering property in Madhavan Nagar, the stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Madhavan Nagar located?

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