Guideline Value for MADURAM NAGAR 3RD STREET

Maduram Nagar 3rd Street guideline value

The current guideline value of Maduram Nagar 3rd Street is Rs 1,650 per sq.ft. This street is located in Kolathuvancheri village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Maduram Nagar 3rd Street has changed

The guideline value for Maduram Nagar 3rd Street has undergone several revisions over the years. The earliest recorded figure is from 2007, where it was Rs 500 per sq.ft. This value increased significantly by 200% to Rs 1,500 per sq.ft in 2012. However, in 2017, the value decreased by 33% to Rs 1,005 per sq.ft. Following this, the value rose sharply by 49% to Rs 1,500 per sq.ft in 2023, and then increased by 10% to the current value of Rs 1,650 per sq.ft in 2024.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value increased by 230%.

Guideline values in Kolathuvancheri

In Kolathuvancheri, there are 146 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 660 to Rs 4,600 per sq.ft. The median value is Rs 1,650 per sq.ft, which matches the guideline value of Maduram Nagar 3rd Street.

• Maduram Nagar 2nd Street: Rs 1,650 per sq.ft (2024)
• Maduram Nagar 4th Street: Rs 1,650 per sq.ft (2024)
• Maduram Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• Maduram Nagar 5th Street: Rs 1,650 per sq.ft (2024)
• Maduram Nagar: Rs 1,650 per sq.ft (2024)
• Maduram Nagar Extn.: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Maduram Nagar 3rd Street

For a 1,000 sq.ft plot at the current rate of Rs 1,650 per sq.ft, the guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, while the registration fee at 2% would be Rs 33,000, totaling Rs 1,48,500. Please note that duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Maduram Nagar 3rd Street?

The Sub Registrar Office that covers Maduram Nagar 3rd 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 Kolathuvancheri

The guideline value is a crucial factor in property transactions in Kolathuvancheri, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these costs are based on a standardized valuation.

It is important for buyers and sellers to be aware of the guideline value when engaging in property transactions. This helps in understanding the financial implications of registration and ensures compliance with local regulations.

Frequently asked questions

What is the current guideline value of Maduram Nagar 3rd Street?

The current guideline value of Maduram Nagar 3rd Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 500 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, marking an overall increase of 230% over the years.

What is the land classification of Maduram Nagar 3rd Street?

Maduram Nagar 3rd Street is classified as Residential Class III Type - I, indicating its suitability for residential development.

What are the stamp duty rates for properties in this area?

The stamp duty for properties in Maduram Nagar 3rd Street is charged at 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Maduram Nagar 3rd Street?

The Sub Registrar Office for Maduram Nagar 3rd Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035.