Guideline Value for MADLEY ROAD

Madley Road guideline value

The current guideline value of Madley Road is Rs 17,600 per sq.ft, effective from 1 July 2024. This road is located in Tnagar village, under the Thiyagaraya nagar SRO, and is classified as Commercial Special Type - III.

How the guideline value of Madley Road has changed

The guideline value of Madley Road has undergone several revisions over the years. In 2002, the value was Rs 2,193 per sq.ft, which increased to Rs 3,200 per sq.ft in 2003, marking a 46% rise. By 2007, the value further increased to Rs 4,000 per sq.ft, a 25% increase from the previous revision. The 2012 revision saw a significant jump to Rs 16,000 per sq.ft, reflecting a 300% increase. However, in 2017, the value decreased to Rs 10,720 per sq.ft, a decline of 33%. The guideline value then rose to Rs 16,000 per sq.ft in 2023, before reaching the current rate of Rs 17,600 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 703%. There are no figures available for the revisions in years other than those listed.

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 value is Rs 11,000 per sq.ft, placing Madley Road's current value above this median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 17,600 per sq.ft, the total guideline value amounts to Rs 1,76,00,000. The stamp duty at 7% would be Rs 12,32,000, and the registration fee at 2% would be Rs 3,52,000, resulting in a total of Rs 15,84,000. It is important to 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 Road?

The Sub Registrar Office that covers Madley Road 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 during the registration of property transactions in Tnagar. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable fees. Buyers should be aware that the stamp duty is charged based on the higher of the guideline value or the sale price, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Madley Road?

The current guideline value of Madley Road is Rs 17,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 2,193 per sq.ft in 2002 to Rs 17,600 per sq.ft in 2024, reflecting an overall increase of 703% over this period.

What is the land classification for Madley Road?

Madley Road is classified as Commercial Special Type - III, indicating its designation for commercial use.

What are the stamp duty and registration fees for properties on Madley Road?

For a 1,000 sq.ft property on Madley Road, the total guideline value is Rs 1,76,00,000. The stamp duty at 7% is Rs 12,32,000, and the registration fee at 2% is Rs 3,52,000, totaling Rs 15,84,000.

Where is the Sub Registrar Office for Madley Road located?

The Sub Registrar Office covering Madley Road is located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35.