Guideline Value for Madavilagam arijana colony 108/1

Madavilagam arijana colony 108/1 guideline value

The current guideline value for Madavilagam arijana colony 108/1 is Rs 660 per sq.ft, effective from 1 July 2024. This property is located in Madavilagam village and falls under the Poonamallee SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Madavilagam arijana colony 108/1 has changed

The guideline value for Madavilagam arijana colony 108/1 has seen several revisions over the years. In 2007, the value was Rs 150 per sq.ft, which increased significantly to Rs 600 per sq.ft in 2012, marking a 300% rise. However, from 2012 to 2017, the value decreased to Rs 402 per sq.ft, reflecting a decline of 33%. By 2023, the value had increased to Rs 600 per sq.ft, and the most recent revision in 2024 set it at Rs 660 per sq.ft, a 10% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 340%. It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street.

Guideline values in Madavilagam

In Madavilagam village, there are 37 streets under the Poonamallee SRO that carry a 2024 guideline value ranging from Rs 660 to Rs 2,200 per sq.ft, with a median value of Rs 1,100 per sq.ft. The guideline value for Madavilagam arijana colony 108/1 is below this median.

• Madavilagam arijana colony 108: Rs 660 per sq.ft (2024)
• Madavilagam arijana colony 108/3: Rs 660 per sq.ft (2024)
• Madavilagam arijana colony 108/4: Rs 660 per sq.ft (2024)
• Madavilagam arijanna colony 108/2: Rs 660 per sq.ft (2024)
• Lakshmi Nagar: Rs 1,100 per sq.ft (2024)
• Kundumedu Kundumedu colony 37,59,46: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Madavilagam arijana colony 108/1

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value amounts to Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, and the registration fee at 2% would be Rs 13,200, bringing the total fees to Rs 59,400. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Madavilagam arijana colony 108/1?

The Sub Registrar Office that covers Madavilagam arijana colony 108/1 is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find your SRO for more details.

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

The guideline value is a crucial factor during property transactions in Madavilagam, as it determines the minimum value at which a property can be registered. Buyers must be aware that the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with property transactions.

When selling a property, the seller must ensure that the sale price is at least equal to the guideline value to avoid any legal issues. This ensures transparency and helps maintain a standard in property transactions within the region.

Frequently asked questions

What is the current guideline value for Madavilagam arijana colony 108/1?

The current guideline value for Madavilagam arijana colony 108/1 is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 150 per sq.ft in 2007 to Rs 660 per sq.ft in 2024, marking an overall increase of 340% over these years.

What is the land classification for Madavilagam arijana colony 108/1?

The land classification for Madavilagam arijana colony 108/1 is Residential Class III Type - I.

Which office handles property registrations for this area?

The Poonamallee Sub Registrar Office handles property registrations for Madavilagam arijana colony 108/1, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the guideline value of Rs 660 per sq.ft would incur a total fee of Rs 59,400.