Guideline Value for MADHUSUDANAM GARDEN

Madhusudanam Garden guideline value

The current guideline value of Madhusudanam Garden is Rs 1,100 per sq.ft, effective from 1 July 2024. This area is located in Chemmancheri village under the Neelankarai SRO, classified as Residential Class IV Type - II.

How the guideline value of Madhusudanam Garden has changed

The guideline value for Madhusudanam Garden has seen several revisions over the years. The 2012 revision set the value at Rs 1,000 per sq.ft, which was a decrease of 33% from the previous revision in 2017, where the value was Rs 670 per sq.ft. The 2023 revision then increased the value to Rs 1,000 per sq.ft, and the latest 2024 revision raised it further to Rs 1,100 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The revisions for the years 2002, 2003, and 2007 have no figures recorded for this street.

Guideline values in Chemmancheri

In Chemmancheri, there are 195 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 6,600 per sq.ft, with a median value of Rs 1,700 per sq.ft. Madhusudanam Garden's 2024 guideline value is below this median.

• Madhu Sudanam Garden (Near Omr): Rs 1,700 per sq.ft (2024)
• Lingesan Garden: Rs 1,700 per sq.ft (2024)
• Mahathma Gandhi Street: Rs 3,300 per sq.ft (2024)
• Manavalan Garden: Rs 1,100 per sq.ft (2024)
• Manick Enclave: Rs 1,700 per sq.ft (2024)
• Kuthus Garden II: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Madhusudanam Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty, charged at 7%, would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total fees to Rs 99,000. Please note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Madhusudanam Garden?

The Madhusudanam Garden area is covered by the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role during property registration in Chemmancheri. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold. This ensures that the transaction is recorded at a value that reflects the current market conditions as per the official guidelines.

When a buyer or seller registers a property, the guideline value is checked against the sale price. The higher of the two values is used to calculate the applicable fees, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Madhusudanam Garden?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the median guideline value in Chemmancheri?

The median guideline value in Chemmancheri is Rs 1,700 per sq.ft, while Madhusudanam Garden's value is below this median.

What are the stamp duty rates for properties in Madhusudanam Garden?

The stamp duty rate for properties in Madhusudanam Garden is 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher.

Which office handles registrations for Madhusudanam Garden?

The Neelankarai Sub Registrar Office handles registrations for Madhusudanam Garden, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.