Guideline Value for MADLEY IST STREET

Madley Ist Street guideline value

The current guideline value of Madley Ist 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 Ist Street has changed

The guideline value for Madley Ist Street has undergone several revisions over the years. In 2007, the guideline value was Rs 2,000 per sq.ft. This increased significantly to Rs 8,000 per sq.ft in 2012, marking a 300% rise. However, it then decreased to Rs 5,360 per sq.ft in 2017, which represented a 33% drop. The value saw a substantial increase again, reaching Rs 8,000 per sq.ft in 2023, and finally, it rose to Rs 8,800 per sq.ft in the 2024 revision, reflecting a 10% increase.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 340%.

Guideline values in Tnagar

In Tnagar, there are 262 streets under the Thiyagaraya nagar SRO with a 2024 guideline value ranging from Rs 4,400 to Rs 27,500 per sq.ft. The median guideline value for these streets is Rs 11,000 per sq.ft, which means that Madley Ist Street's 2024 figure is below that median.

• Madley 3rd Street: Rs 8,800 per sq.ft (2024)
• Madley Road: Rs 17,600 per sq.ft (2024)
• Madley 2nd Street: Rs 8,800 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 Ist Street

For a 1,000 sq.ft plot at the current guideline value of Rs 8,800 per sq.ft, the total guideline value is Rs 88,00,000. The stamp duty at 7% would amount to Rs 6,16,000, and the registration fee at 2% would be Rs 1,76,000, totaling Rs 7,92,000. 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 Madley Ist Street?

The Sub Registrar Office that covers Madley Ist 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 is an essential factor in the registration process of property transactions in Tnagar. It serves as a benchmark for determining the stamp duty and registration fees applicable when buying or selling property.

When a property is registered, the higher value between the guideline value and the sale price will be considered for calculating the stamp duty. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Madley Ist Street?

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

How much has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 2,000 per sq.ft in 2007 to Rs 8,800 per sq.ft in 2024, marking an overall increase of 340%.

What is the median guideline value for streets in Tnagar?

The median guideline value for the 262 streets in Tnagar under the Thiyagaraya nagar SRO is Rs 11,000 per sq.ft.

What are the stamp duty and registration fees for property in Madley Ist Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 88,00,000, leading to a stamp duty of Rs 6,16,000 and a registration fee of Rs 1,76,000, totaling Rs 7,92,000.

Where can I find the Sub Registrar Office for Madley Ist Street?

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