Guideline Value for Madha Nagar Extension III

Madha Nagar Extension III guideline value

The current guideline value of Madha Nagar Extension III is Rs 3,960 per sq.ft, effective from 1 July 2024. This area is located in Madanandapuram village, under the Kunrathur Sub Registrar Office (SRO). The land classification for this street is Residential Special Type - I.

How the guideline value of Madha Nagar Extension III has changed

The guideline value for Madha Nagar Extension III has undergone several revisions over the years. In 2007, the guideline value was Rs 800 per sq.ft. This increased significantly to Rs 3,600 per sq.ft in 2012, marking a rise of 350%. However, from 2012 to 2017, the value decreased to Rs 2,412 per sq.ft, reflecting a decline of 33%. The next revision in 2023 saw the value increase to Rs 3,600 per sq.ft, a rise of 49%. Finally, the most recent revision in 2024 set the guideline value at Rs 3,960 per sq.ft, representing a 10% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street.

Guideline values in Madanandapuram

In Madanandapuram, there are 94 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 2,530 to Rs 5,830 per sq.ft. The median guideline value for these streets is Rs 3,520 per sq.ft, placing Madha Nagar Extension III's 2024 figure above that median.

• Madha Nagar Extension II: Rs 3,960 per sq.ft (2024)
• Madha Nagar Extension IV: Rs 3,960 per sq.ft (2024)
• Madha Nagar Extension I: Rs 3,960 per sq.ft (2024)
• Madha Nagar Extension V: Rs 3,960 per sq.ft (2024)
• Madha Nagar: Rs 3,960 per sq.ft (2024)
• Mahalakshmi Nagar: Rs 3,960 per sq.ft (2024)

Stamp duty and registration fee for property in Madha Nagar Extension III

For a 1,000 sq.ft plot at the current guideline value of Rs 3,960 per sq.ft, the total guideline value amounts to Rs 39,60,000. The stamp duty at 7% would be Rs 2,77,200, and the registration fee at 2% would be Rs 79,200, bringing the total to Rs 3,56,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Madha Nagar Extension III?

The Sub Registrar Office that covers Madha Nagar Extension III is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Madanandapuram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a buyer or seller engages in a property transaction, the guideline value is used to calculate the applicable duties and fees. It is essential to be aware of the current guideline value to ensure compliance with the registration process.

Frequently asked questions

What is the current guideline value of Madha Nagar Extension III?

The current guideline value of Madha Nagar Extension III is Rs 3,960 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, increasing from Rs 800 per sq.ft in 2007 to Rs 3,960 per sq.ft in 2024, which is an overall increase of 395%.

What are the other streets in Madanandapuram with the same guideline value?

Other streets in Madanandapuram with the same guideline value of Rs 3,960 per sq.ft for 2024 include Madha Nagar Extension II, Madha Nagar Extension IV, Madha Nagar Extension I, Madha Nagar Extension V, Madha Nagar, and Mahalakshmi Nagar.

What is the registration office for Madha Nagar Extension III?

The registration office for Madha Nagar Extension III is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is stamp duty calculated for properties in Madha Nagar Extension III?

Stamp duty for properties in Madha Nagar Extension III is calculated based on the higher of the guideline value or the sale price. For example, a property with a guideline value of Rs 39,60,000 would incur a stamp duty of Rs 2,77,200 at 7%.