Guideline Value for MADLEY 3RD STREET

Madley 3rd Street guideline value

The current guideline value of Madley 3rd Street is Rs 8,800 per sq.ft, effective from 1 July 2024. This street is located in Tnagar village under the Thiyagaraya nagar SRO and is classified as Residential Class I Type - II.

How the guideline value of Madley 3rd Street has changed

The guideline value for Madley 3rd Street has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 8,800 per sq.ft, which is an increase from Rs 8,000 per sq.ft in 2023, reflecting a change of +10%. Prior to that, the 2017 revision recorded a guideline value of Rs 5,360 per sq.ft, marking a significant increase of +49% when compared to the 2023 figure. The 2012 revision had a guideline value of Rs 8,000 per sq.ft, which was a decrease of -33% from the 2017 figure. Overall, from 2012 to 2024, the guideline value has increased by +10%.

It is important to note that the register has no figures for Madley 3rd Street for the years 2002, 2003, and 2007. This lack of data means that the changes in guideline value for those years are not available for this specific street.

Guideline values in Tnagar

In Tnagar, there are 262 streets under the Thiyagaraya nagar SRO that carry a 2024 guideline value, ranging from Rs 4,400 to Rs 27,500 per sq.ft. The median guideline value in this area is Rs 11,000 per sq.ft, which means that the 2024 guideline value of Madley 3rd Street is below this median.

• Madley 2nd Street: Rs 8,800 per sq.ft (2024)
• Madley Ist Street: Rs 8,800 per sq.ft (2024)
• Madley Road: Rs 17,600 per sq.ft (2024)
• Madurai Veeran Koil Street: Rs 6,600 per sq.ft (2024)
• Magali Pillai Thottam: Rs 5,500 per sq.ft (2024)
• Mahalakhsmi Street: Rs 17,600 per sq.ft (2024)

Stamp duty and registration fee for property in Madley 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 8,800 per sq.ft, the total guideline value amounts to Rs 88,00,000. The stamp duty at 7% would be Rs 6,16,000, and the registration fee at 2% would be Rs 1,76,000, bringing the total fees together to Rs 7,92,000. Please note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Madley 3rd Street?

The Sub Registrar Office that covers Madley 3rd Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Tnagar. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is used to ensure that the transaction is recorded accurately. This value helps in assessing the legal and financial obligations of the buyer and seller, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Madley 3rd Street?

The current guideline value of Madley 3rd Street is Rs 8,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 5,360 per sq.ft in 2017 to Rs 8,800 per sq.ft in 2024, reflecting a +49% increase from 2017 to 2023 and a +10% increase from 2023 to 2024.

What are the other streets in Tnagar with similar guideline values?

Other streets in Tnagar with similar guideline values include Madley 2nd Street and Madley Ist Street, both at Rs 8,800 per sq.ft as of 2024.

What are the stamp duty and registration fees for a property in Madley 3rd Street?

For a 1,000 sq.ft property, the total stamp duty would be Rs 6,16,000 and the registration fee would be Rs 1,76,000, totaling Rs 7,92,000 based on the current guideline value.

Which Sub Registrar Office covers Madley 3rd Street?

The Thiyagaraya nagar Sub Registrar Office covers Madley 3rd Street, located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35.