Guideline Value for Madan City

Madan City guideline value

The current guideline value of Madan City is Rs 100 per sq.ft, effective from 1 July 2024. This area is located in Kudalur village, under the Madurandakam SRO, and is classified as Residential Class I Type - I.

How the guideline value of Madan City has changed

The guideline value for Madan City has undergone several revisions over the years. In 2007, the value was set at Rs 20 per sq.ft, which increased significantly to Rs 70 per sq.ft in 2012. However, between 2012 and 2017, the value decreased to Rs 47 per sq.ft. The 2023 revision maintained the value at Rs 100 per sq.ft, which will also be the value for the 2024 revision.

From 2017 to 2023, the guideline value saw a substantial increase of 113%. The overall change from the 2007 revision to the current 2024 value represents a remarkable increase of 400%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Kudalur

In Kudalur, there are 10 streets under the Madurandakam SRO that have a guideline value for 2024, ranging from Rs 100 to Rs 299 per sq.ft. The median guideline value for these streets is Rs 100 per sq.ft, which matches the guideline value for Madan City.

• Gajapathy Nagar: Rs 111 per sq.ft (2024)
• Rallys Nagar: Rs 100 per sq.ft (2024)
• Rasi Nagar Phase-II: Rs 111 per sq.ft (2024)
• Sasi Nagar: Rs 100 per sq.ft (2024)
• Asayaa Nagar: Rs 299 per sq.ft (2024)
• Sri Mugambigai Nagar: Rs 100 per sq.ft (2024)

Stamp duty and registration fee for property in Madan City

For a 1,000 sq.ft plot at the current rate of Rs 100 per sq.ft, the guideline value would be Rs 1,00,000. The stamp duty at 7% would amount to Rs 7,000, and the registration fee at 2% would be Rs 2,000, totaling Rs 9,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Madan City?

The Sub Registrar Office that covers Madan City is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Kudalur. It determines the minimum value at which a property can be registered and affects the stamp duty and registration fees applicable during the transaction.

When you approach the registration office, the guideline value will be used to calculate the fees based on the property size and the applicable rates. It is essential to be aware of these values to ensure compliance with local regulations during property transactions.

Frequently asked questions

What is the current guideline value of Madan City?

The current guideline value of Madan City is Rs 100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 20 per sq.ft in 2007 to Rs 100 per sq.ft in 2024, reflecting an overall increase of 400% over this period.

What are the stamp duty and registration fees for a property in Madan City?

For a property valued at Rs 1,00,000, the stamp duty would be Rs 7,000 and the registration fee would be Rs 2,000, totaling Rs 9,000.

Which office handles property registrations in Madan City?

The Madurandakam Sub Registrar Office handles property registrations in Madan City, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

How is the guideline value used in property transactions?

The guideline value is used to determine the minimum registration value for a property and is essential for calculating stamp duty and registration fees during property transactions.