Guideline Value for Ma.Po. Vedha St (Ward-30)

Ma.Po. Vedha St (Ward-30) guideline value

The current guideline value of Ma.Po. Vedha St (Ward-30) is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village under the Madhavaram SRO, classified as Residential Class II Type - I.

How the guideline value of Ma.Po. Vedha St (Ward-30) has changed

The guideline value for Ma.Po. Vedha St (Ward-30) has undergone several revisions over the years. In 2012, the guideline value was Rs 1,500 per sq.ft, which decreased to Rs 1,005 per sq.ft in the 2017 revision. However, the most recent revision in 2024 saw a significant increase to Rs 1,600 per sq.ft, marking a 59% increase from the 2017 figure. Overall, from 2012 to 2024, the guideline value has increased by 7%.

It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2023 in the register for this street. This lack of data means that the only revisions with figures are from 2012, 2017, and 2024.

Guideline values in Madhavaram

In Madhavaram, there are a total of 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median value for these streets is Rs 1,600 per sq.ft, which aligns with the guideline value of Ma.Po. Vedha St (Ward-30).

• Ma.Po. Veda Street (Ward 20): Rs 1,600 per sq.ft (2024)
• Ma-Po-Vedha St ( Ward No.30 ): Rs 1,300 per sq.ft (2024)
• Mariamman Koil cross st ( Ward No.10): Rs 1,300 per sq.ft (2024)
• Mariamman Koil Street (Ward-10): Rs 1,300 per sq.ft (2024)
• Mariamman Koil St (Ward-08): Rs 1,300 per sq.ft (2024)
• Mannady Street (Ettapalayam): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Ma.Po. Vedha St (Ward-30)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, while the registration fee at 2% would be Rs 32,000, bringing the total to Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Ma.Po. Vedha St (Ward-30)?

The Sub Registrar Office that covers Ma.Po. Vedha St (Ward-30) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Madhavaram, as it serves as a reference for determining the stamp duty and registration fees. Buyers and sellers must be aware that the guideline value is used to calculate these fees, ensuring compliance with local regulations.

When engaging in a property transaction, it is essential to understand that the guideline value may influence negotiations and final sale prices. Buyers should be informed of the current guideline value to make educated decisions during the purchasing process.

Frequently asked questions

What is the current guideline value of Ma.Po. Vedha St (Ward-30)?

The current guideline value of Ma.Po. Vedha St (Ward-30) is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, and then increased to Rs 1,600 per sq.ft in 2024. The overall change from 2012 to 2024 is an increase of 7%.

What is the land classification of Ma.Po. Vedha St (Ward-30)?

Ma.Po. Vedha St (Ward-30) is classified as Residential Class II Type - I, indicating its suitability for residential purposes.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles registrations for properties in the area.

How is stamp duty calculated in Madhavaram?

Stamp duty in Madhavaram is calculated based on the guideline value or the sale price, whichever is higher. It is important for buyers to be aware of the current guideline value to estimate their stamp duty obligations accurately.