Guideline Value for MADURAI SAMY STREET

Madurai Samy Street guideline value

The current guideline value of Madurai Samy Street is Rs 7,150 per sq.ft, effective from 1 July 2024. This street is located in Thiruvanmiyur village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Madurai Samy Street has changed

The guideline value for Madurai Samy Street has undergone several revisions over the years. In 2012, the value was Rs 6,500 per sq.ft, which decreased to Rs 4,355 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 6,500 per sq.ft in 2023, and then rose again to Rs 7,150 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value increased by 49%. Overall, comparing the figures from 2012 to 2024, there has been a 10% increase. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Thiruvanmiyur

In Thiruvanmiyur, there are 484 streets under the Chennai South Joint I SRO that carry a guideline value for 2024, ranging from Rs 3,520 to Rs 12,660 per sq.ft, with a median value of Rs 9,900 per sq.ft. The guideline value of Madurai Samy Street is below this median.

• Magala Earikkarai Street: Rs 3,520 per sq.ft (2024)
• Mahalakshmi Avenue: Rs 9,900 per sq.ft (2024)
• Mahalakshmi Koil Street: Rs 9,900 per sq.ft (2024)
• L.I.C.Colony Extension: Rs 9,900 per sq.ft (2024)
• L.I.C.Colony 5th Cross Street: Rs 9,900 per sq.ft (2024)
• L.I.C.Colony 4th Cross Street: Rs 9,900 per sq.ft (2024)

Stamp duty and registration fee for property in Madurai Samy Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,150 per sq.ft, the total guideline value would be Rs 71,50,000. The stamp duty at 7% would amount to Rs 5,00,500, and the registration fee at 2% would be Rs 1,43,000, bringing the total fees to Rs 6,43,500. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Madurai Samy Street?

The Sub Registrar Office that covers Madurai Samy Street 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 information.

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

The guideline value is a critical factor in the registration of property transactions in Thiruvanmiyur. It serves as the basis for calculating the stamp duty and registration fees, which are mandatory during the property registration process.

When buying or selling property, the guideline value ensures that the transaction is recorded at a value that reflects the official rates set by the authorities. This helps maintain transparency and compliance with local regulations during property transfers.

Frequently asked questions

What is the current guideline value of Madurai Samy Street?

The current guideline value of Madurai Samy Street is Rs 7,150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 6,500 per sq.ft in 2012 to Rs 4,355 per sq.ft in 2017, then increased to Rs 6,500 per sq.ft in 2023, and finally to Rs 7,150 per sq.ft in 2024.

What is the land classification for Madurai Samy Street?

The land classification for Madurai Samy Street is Residential Class IV Type - I.

Where can I find the Sub Registrar Office for Madurai Samy Street?

The Sub Registrar Office for Madurai Samy Street 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.

How is the stamp duty calculated for property in Madurai Samy Street?

The stamp duty for property in Madurai Samy Street is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 71,50,000, the stamp duty would be Rs 5,00,500.