Guideline Value for MADRAS GARDEN

Madras Garden guideline value

The current guideline value of Madras Garden, located in Perumattu Nellore village, is Rs 500 per sq.ft. This value is set to take effect from 1 July 2024 and falls under the Residential Class I Type - I land classification. The area is governed by the Chengleput Joint II SRO.

How the guideline value of Madras Garden has changed

Over the years, the guideline value of Madras Garden has seen several revisions. Starting from the 2007 revision, the value was Rs 50 per sq.ft, which increased significantly to Rs 500 per sq.ft in the 2012 revision. However, it then dropped to Rs 335 per sq.ft in 2017, representing a decrease of 33%. The value remained at Rs 500 per sq.ft in both the 2023 and 2024 revisions, indicating no change between these two years. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

In summary, from the 2007 revision to the 2024 revision, there has been a remarkable increase of 900%. The guideline value rose by 49% from 2017 to 2023, with no change from 2023 to 2024.

Guideline values in Perumattu Nellore

In Perumattu Nellore, there are 83 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 500 to Rs 2,850 per sq.ft, with a median value of Rs 700 per sq.ft. The guideline value of Madras Garden is below this median.

• Lss Vijay Avenue: Rs 800 per sq.ft (2024)
• L.S.S. Anandham Avenue: Rs 500 per sq.ft (2024)
• Lavakusa Nagar: Rs 500 per sq.ft (2024)
• Lakshmi Puram: Rs 800 per sq.ft (2024)
• Lakshmi Nagar: Rs 800 per sq.ft (2024)
• Manickam Nagar: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Madras Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value would be Rs 5,00,000. The stamp duty at 7% would amount to Rs 35,000, and the registration fee at 2% would be Rs 10,000, bringing the total fees to Rs 45,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Madras Garden?

The Sub Registrar Office that covers Madras Garden is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a critical component in the registration process when buying or selling property in Perumattu Nellore. 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 calculate the applicable fees, ensuring that both buyers and sellers are aware of the costs involved. This helps in maintaining transparency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Madras Garden?

The current guideline value of Madras Garden is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, starting from Rs 50 per sq.ft in 2007 to Rs 500 per sq.ft in 2012, dropping to Rs 335 per sq.ft in 2017, and remaining at Rs 500 per sq.ft in both 2023 and 2024.

What is the median guideline value in Perumattu Nellore?

The median guideline value in Perumattu Nellore is Rs 700 per sq.ft, with Madras Garden's value being below this median at Rs 500 per sq.ft.

What are the stamp duty and registration fees for properties in Madras Garden?

For a property valued at Rs 5,00,000, the stamp duty would be Rs 35,000 and the registration fee would be Rs 10,000, totaling Rs 45,000.

Where can I find the Sub Registrar Office for Madras Garden?

The Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, covers Madras Garden. You can find your SRO online as well.