Guideline Value for Madha Nagar

Madha Nagar guideline value

The current guideline value of Madha Nagar, located in Anakaputhur village under the Pammal SRO, is Rs 1,760 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class II Type - I land classification.

How the guideline value of Madha Nagar has changed

The guideline value for Madha Nagar has seen several changes over the years. In the 2003 revision, the value was Rs 256 per sq.ft, which increased to Rs 300 per sq.ft in 2007. This was a rise of 17%. The next significant jump occurred in 2017, where the value rose to Rs 1,072 per sq.ft, marking an increase of 257% from 2007. The 2023 revision set the value at Rs 1,600 per sq.ft, reflecting a 49% increase from the previous revision. The latest 2024 revision has further increased the guideline value to Rs 1,760 per sq.ft, a 10% rise from 2023.

It is important to note that the register does not have figures for the years 2002 and 2012 for this street. Overall, from 2003 to 2024, the guideline value has increased by 588%.

Guideline values in Anakaputhur

In Anakaputhur, there are 501 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 4,640 per sq.ft, with a median value of Rs 1,980 per sq.ft. The guideline value for Madha Nagar is below this median.

• L.I.C Colony Meelamegam Street: Rs 2,530 per sq.ft (2024)
• L.I.C Colony Kothandapani Street: Rs 2,530 per sq.ft (2024)
• LIC Colony 7th Street: Rs 2,530 per sq.ft (2024)
• LIC Colony 6th Street: Rs 2,530 per sq.ft (2024)
• LIC Colony 5th Street: Rs 2,530 per sq.ft (2024)
• LIC Colony 4th Street: Rs 2,530 per sq.ft (2024)

Stamp duty and registration fee for property in Madha Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,760 per sq.ft, the total guideline value amounts to Rs 17,60,000. The stamp duty at 7% would be Rs 1,23,200, while the registration fee at 2% would be Rs 35,200. Together, the total cost for these fees would be Rs 1,58,400. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Madha Nagar?

The Sub Registrar Office that covers Madha Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a critical component in property transactions in Anakaputhur, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees, ensuring that the transaction is legally compliant.

When buying or selling property, it is essential to be aware of the guideline value, as it can influence the overall costs involved in the transaction. Buyers should ensure that the sale price is in line with the guideline value to avoid any legal complications during registration.

Frequently asked questions

What is the current guideline value of Madha Nagar?

The current guideline value of Madha Nagar is Rs 1,760 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 256 per sq.ft in 2003 to Rs 1,760 per sq.ft in 2024, reflecting an overall increase of 588% over this period.

What are the stamp duty and registration fees for property in Madha Nagar?

For a property valued at Rs 17,60,000, the stamp duty would be Rs 1,23,200 and the registration fee would be Rs 35,200, totaling Rs 1,58,400.

Which office handles registrations for Madha Nagar?

The Pammal Sub Registrar Office handles registrations for Madha Nagar, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the significance of the guideline value in property transactions?

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