Guideline Value for MADURA SEKMANIYAM

Madura Sekmaniyam guideline value

The current guideline value for Madura Sekmaniyam is Rs 1,320 per sq.ft, effective from 1 July 2024. This area is located in Vanagaram village and falls under the Chennai South Joint I SRO. The land classification for this street is Residential Class IV Type - II.

How the guideline value of Madura Sekmaniyam has changed

The guideline value for Madura Sekmaniyam has seen significant changes over the years. In 2002, the guideline value was Rs 94 per sq.ft. This increased to Rs 150 per sq.ft in 2003, marking a 60% rise. The value then surged to Rs 500 per sq.ft in 2007, an increase of 233%. Following this, the value rose to Rs 1,200 per sq.ft in 2012, reflecting a 140% increase. However, it fell to Rs 804 per sq.ft in 2017, a decrease of 33%. The guideline value then increased to Rs 1,200 per sq.ft in 2023, followed by a final rise to Rs 1,320 per sq.ft in 2024, representing a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 1304%. Notably, there are no figures available for the years not mentioned in the register for this street.

Guideline values in Vanagaram

In Vanagaram, there are 287 streets under the Chennai South Joint I SRO with a 2024 guideline value ranging from Rs 770 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 1,660 per sq.ft, placing Madura Sekmaniyam's 2024 figure below that median.

• Loganathan Street: Rs 1,100 per sq.ft (2024)
• Kuppusamy Naickar Street: Rs 1,100 per sq.ft (2024)
• Meetpar Nagar: Rs 1,100 per sq.ft (2024)
• Mettukuppam - Anna 1st Cross Street: Rs 1,660 per sq.ft (2024)
• Mettukuppam - Anna 2nd Cross Street: Rs 1,660 per sq.ft (2024)
• Mettukuppam - Anna 3rd Cross Street: Rs 1,660 per sq.ft (2024)

Stamp duty and registration fee for property in Madura Sekmaniyam

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total cost for these fees to Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Madura Sekmaniyam?

The Sub Registrar Office that covers Madura Sekmaniyam is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Vanagaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that the transaction is recorded accurately in official records.

Frequently asked questions

What is the current guideline value of Madura Sekmaniyam?

The current guideline value of Madura Sekmaniyam is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 94 per sq.ft in 2002 to Rs 1,320 per sq.ft in 2024, representing an overall increase of 1304% over this period.

What is the land classification for Madura Sekmaniyam?

The land classification for Madura Sekmaniyam is Residential Class IV Type - II.

What are the stamp duty and registration fees for a property in Madura Sekmaniyam?

For a property measuring 1,000 sq.ft, the total guideline value is Rs 13,20,000. The stamp duty would be Rs 92,400 and the registration fee would be Rs 26,400, totaling Rs 1,18,800.

Where is the Sub Registrar Office for Madura Sekmaniyam located?

The Sub Registrar Office for Madura Sekmaniyam is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.