Guideline Value for MADURAM NAGAR 4TH STREET

Maduram Nagar 4th Street guideline value

The current guideline value of Maduram Nagar 4th Street is Rs 1,650 per sq.ft, effective from 1 July 2024. 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 4th Street has changed

The guideline value for Maduram Nagar 4th Street has seen several revisions over the years. In 2007, the value was Rs 500 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012, marking a 200% rise. However, it then decreased to Rs 1,005 per sq.ft in 2017, reflecting a 33% drop. The value rose again to Rs 1,500 per sq.ft in 2023, and most recently to Rs 1,650 per sq.ft in 2024, showing a 10% increase.

Overall, from 2007 to 2024, the guideline value has increased by 230%. The revisions for the years 2002 and 2003 do not have figures listed for this street.

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 is the same as the current guideline value for Maduram Nagar 4th Street.

• Maduram Nagar 3rd Street: Rs 1,650 per sq.ft (2024)
• Maduram Nagar 5th Street: Rs 1,650 per sq.ft (2024)
• Maduram Nagar 2nd Street: Rs 1,650 per sq.ft (2024)
• Maduram Nagar Extn.: Rs 1,650 per sq.ft (2024)
• Maduram Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• Maduram Nagar: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Maduram Nagar 4th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total cost to Rs 1,48,500. 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 Maduram Nagar 4th Street?

The Sub Registrar Office covering Maduram Nagar 4th 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, Chennai registration zone.

You can find your SRO for more details.

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. It serves as the benchmark for determining the minimum value at which properties can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions, based on the established guideline values.

Frequently asked questions

What is the current guideline value of Maduram Nagar 4th Street?

The current guideline value of Maduram Nagar 4th 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 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 for Maduram Nagar 4th Street?

Maduram Nagar 4th Street is classified as Residential Class III Type - I, indicating its use for residential purposes.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office for Maduram Nagar 4th 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 properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 at a rate of 7%.