Guideline Value for MADHEENA GARDEN

Madheena Garden guideline value

The current guideline value of Madheena Garden is Rs 820 per sq.ft, effective from 1 July 2024. This locality is situated in Mepur village under the Kunrathur SRO, and it falls under the Residential Special Type - IV land classification.

How the guideline value of Madheena Garden has changed

The guideline value for Madheena Garden has undergone significant changes over the years. The earliest recorded revision was in 2002, followed by 2003, 2007, 2012, and 2017, with no figures available for these years in the register. The 2017 revision set the value at Rs 500 per sq.ft.

In the most recent revision in 2024, the guideline value increased to Rs 820 per sq.ft, marking a 64% rise from the 2017 figure. This increase reflects the current valuation trends in the area.

Guideline values in Mepur

In Mepur village, there are 22 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 550 to Rs 2,955 per sq.ft. The median value for these streets is Rs 770 per sq.ft, placing Madheena Garden's current figure above the median.

• Mayavan Nagar: Rs 770 per sq.ft (2024)
• M R Manickam Nagar: Rs 660 per sq.ft (2024)
• Kasthuri Sriram Nagar: Rs 820 per sq.ft (2024)
• Navasakthi Nagar: Rs 770 per sq.ft (2024)
• Navasakthi Nagar Phase I Extention: Rs 770 per sq.ft (2024)
• Golden City: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Madheena Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 820 per sq.ft, the total guideline value amounts to Rs 8,20,000. The stamp duty at 7% would be Rs 57,400, and the registration fee at 2% would be Rs 16,400, bringing the total fees to Rs 73,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Madheena Garden?

The Sub Registrar Office that covers Madheena Garden is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069, within the Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a critical role in property transactions in Mepur. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for all transactions. It ensures that the government receives the appropriate revenue from property transfers.

During the registration process, the guideline value serves as a benchmark for determining the minimum sale price of a property. This means that even if the sale price is lower than the guideline value, the fees will be based on the guideline value.

Frequently asked questions

What is the current guideline value of Madheena Garden?

The current guideline value of Madheena Garden is Rs 820 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since the 2017 revision, the guideline value has increased by 64%, rising from Rs 500 per sq.ft to Rs 820 per sq.ft in 2024.

What is the land classification of Madheena Garden?

Madheena Garden falls under the Residential Special Type - IV land classification as per the guidelines.

Where can I find the Kunrathur Sub Registrar Office?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069, within the Chennai registration zone.

How is stamp duty calculated for properties in Madheena Garden?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 8,20,000, the stamp duty at 7% would be Rs 57,400.