Guideline Value for Madha Nagar Extension V

Madha Nagar Extension V guideline value

The current guideline value of Madha Nagar Extension V is Rs 3,960 per sq.ft, effective from 1 July 2024. This area is located in Madanandapuram village, under the Kunrathur SRO, and is classified as Residential Special Type - I.

How the guideline value of Madha Nagar Extension V has changed

The guideline value for Madha Nagar Extension V has undergone several revisions over the years. In 2007, the value was Rs 1,200 per sq.ft, which increased significantly to Rs 3,600 per sq.ft in 2012, marking a 200% rise. However, it then decreased to Rs 2,412 per sq.ft in 2017, a drop of 33%. The value saw a substantial increase of 49% to Rs 3,600 per sq.ft in 2023, followed by a further increase of 10% to the current value of Rs 3,960 per sq.ft in 2024.

The register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 230%.

Guideline values in Madanandapuram

Madanandapuram has a range of guideline values across its 94 streets under the Kunrathur SRO, with figures ranging from Rs 2,530 to Rs 5,830 per sq.ft. The median guideline value in this area is Rs 3,520 per sq.ft, placing the current value of Madha Nagar Extension V above this median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,960 per sq.ft, the total guideline value would be Rs 39,60,000. The stamp duty at 7% would amount to Rs 2,77,200, while 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 further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Madha Nagar Extension V?

The Sub Registrar Office that covers Madha Nagar Extension V 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 the basis for calculating stamp duty and registration fees, ensuring that both parties are aware of the minimum value at which the property can be registered.

When a property is sold, the guideline value helps determine the financial obligations of the buyer, including the applicable stamp duty and registration fees. This ensures transparency and standardization in property transactions within the region.

Frequently asked questions

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

The current guideline value of Madha Nagar Extension V 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 changed from Rs 1,200 per sq.ft in 2007 to Rs 3,960 per sq.ft in 2024, reflecting an overall increase of 230% over the years.

What are the other streets in Madanandapuram with similar guideline values?

Other streets in Madanandapuram, such as Madha Nagar Extension I, II, III, IV, Madha Nagar, and Mahalakshmi Nagar, also have a guideline value of Rs 3,960 per sq.ft in 2024.

What is the registration fee for property in Madha Nagar Extension V?

The registration fee for property in Madha Nagar Extension V is calculated at 2% of the guideline value. For a property valued at Rs 39,60,000, the registration fee would be Rs 79,200.

Where can I find the Sub Registrar Office for Madha Nagar Extension V?

The Kunrathur Sub Registrar Office covers Madha Nagar Extension V and is located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find more information by visiting the relevant link.