Guideline Value for MADINA GARDEN

Madina Garden guideline value

The current guideline value of Madina Garden, located in Puzhuthivakkam village under the Madurandakam SRO, is Rs 200 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - I.

How the guideline value of Madina Garden has changed

Since the 2012 revision, the guideline value for Madina Garden has seen fluctuations. The 2012 revision set the value at Rs 200 per sq.ft, which remained unchanged until the 2024 revision. In 2017, the value decreased to Rs 134 per sq.ft, but by 2023, it had risen back to Rs 200 per sq.ft. The 2024 revision again maintains this figure, showing no change from the previous year.

Looking at the changes, from 2017 to 2023, there was a significant increase of 49%. However, the overall change from 2012 to 2024 shows no increase, as the value returned to the same figure set in 2012. The register does not provide figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Puzhuthivakkam

In Puzhuthivakkam, there are 11 streets under the Madurandakam SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 250 per sq.ft, with the median value being Rs 200 per sq.ft. The guideline value for Madina Garden aligns with this median.

• Mahalakshmi Nagar: Rs 200 per sq.ft (2024)
• Roja Nagar: Rs 100 per sq.ft (2024)
• Sri Raghavendra Nagar Phase-I: Rs 200 per sq.ft (2024)
• Sri Sai Garden: Rs 200 per sq.ft (2024)
• Sri Sai Ramana Gorden: Rs 100 per sq.ft (2024)
• Thirumagal Nagar: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Madina Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value would be Rs 2,00,000. The stamp duty at 7% would amount to Rs 14,000, and the registration fee at 2% would be Rs 4,000, bringing the total fees to Rs 18,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Madina Garden?

The Madina Garden area is covered by the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

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

When buying or selling property, it is essential to be aware of the guideline value as it impacts the financial obligations associated with the transaction. Buyers should ensure that the sale price is not lower than the guideline value to avoid any legal complications during registration.

Frequently asked questions

What is the current guideline value of Madina Garden?

The current guideline value of Madina Garden is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Madina Garden has remained at Rs 200 per sq.ft from 2012 to 2024, with a decrease to Rs 134 per sq.ft in 2017 before returning to Rs 200 in 2023.

What is the land classification of Madina Garden?

Madina Garden is classified as Residential Special Type - I, which indicates its suitability for residential development.

What are the stamp duty and registration fees for property in Madina Garden?

For a 1,000 sq.ft plot valued at Rs 2,00,000, the stamp duty would be Rs 14,000 and the registration fee would be Rs 4,000, totaling Rs 18,000.

Where is the Sub Registrar Office for Madina Garden located?

The Madurandakam Sub Registrar Office, which covers Madina Garden, is located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.