Guideline Value for MADURA NAGAR

Madura Nagar guideline value

The current guideline value of Madura Nagar is Rs 600 per sq.ft, effective from 1 July 2024. This area is located in Kolathur village and falls under the Chengleput Joint II SRO. The land classification for this street is Residential Special Type - I.

How the guideline value of Madura Nagar has changed

The guideline value of Madura Nagar has seen several revisions over the years. In 2007, the guideline value was Rs 54 per sq.ft, which increased significantly to Rs 600 per sq.ft in 2012. However, it dropped to Rs 402 per sq.ft in 2017 before returning to Rs 600 per sq.ft in both 2023 and 2024. The register has no figure for this street in 2002 and 2003.

From 2017 to 2023, the guideline value increased by 49%. The change from 2012 to 2017 represented a decrease of 33%, while the jump from 2007 to 2012 was a remarkable increase of 1011%. Overall, the guideline value has increased by 1011% from 2007 to 2024.

Guideline values in Kolathur

In Kolathur, there are 58 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 500 to Rs 1,600 per sq.ft. The median value is Rs 600 per sq.ft, placing Madura Nagar's 2024 figure at the median level.

• Maha Nagar: Rs 600 per sq.ft (2024)
• Mahathma Gandhi Nagar: Rs 600 per sq.ft (2024)
• Lavakusa Nagar: Rs 600 per sq.ft (2024)
• Lakshmi Narayana Nagar-I: Rs 600 per sq.ft (2024)
• Lakshmi Narayana Nagar: Rs 600 per sq.ft (2024)
• Lakshmi Nagar: Rs 600 per sq.ft (2024)

Stamp duty and registration fee for property in Madura Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 600 per sq.ft, the total guideline value amounts to Rs 6,00,000. The stamp duty at 7% would be Rs 42,000, and the registration fee at 2% would be Rs 12,000, bringing the total fees together to Rs 54,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can calculate your fees using our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Madura Nagar?

The Sub Registrar Office that covers Madura Nagar is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Kolathur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the guideline value is used to calculate the fees, ensuring that the transaction complies with the legal requirements set by the Registration Department. Buyers and sellers must be aware of this value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Madura Nagar?

The current guideline value of Madura Nagar is Rs 600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting at Rs 54 per sq.ft in 2007, increasing to Rs 600 per sq.ft in 2012, dropping to Rs 402 per sq.ft in 2017, and returning to Rs 600 per sq.ft in both 2023 and 2024.

What is the land classification of Madura Nagar?

The land classification of Madura Nagar is Residential Special Type - I, which indicates its suitability for residential purposes.

Where can I find the Chengleput Joint II Sub Registrar Office?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone.

How is the stamp duty calculated for properties in Madura Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For instance, a 1,000 sq.ft plot at the current guideline value of Rs 600 per sq.ft would incur a stamp duty of Rs 42,000.