Guideline Value for Madha Nagar

Madha Nagar guideline value

The current guideline value of Madha Nagar is Rs 2,650 per sq.ft, effective from 1 July 2024. This area is located in Moulivakkam village under the Kunrathur SRO, classified as Mixed Special Type - I.

How the guideline value of Madha Nagar has changed

The guideline value for Madha Nagar has seen several revisions over the years. In 2012, the value was Rs 2,400 per sq.ft, which decreased to Rs 1,608 per sq.ft in 2017. Following this, the value increased significantly to Rs 2,400 per sq.ft in 2023, and then to Rs 2,650 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, comparing the 2012 figure to the 2024 figure, there has been a 10% increase. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Moulivakkam

Moulivakkam village has a total of 44 streets under the Kunrathur SRO, with guideline values ranging from Rs 2,000 to Rs 3,900 per sq.ft. The median guideline value for these streets is Rs 2,450 per sq.ft, and the 2024 figure for Madha Nagar is above this median.

• L.T. Avenue: Rs 2,650 per sq.ft (2024)
• Mahalakshmi Nagar: Rs 2,450 per sq.ft (2024)
• Mangadu Road: Rs 2,650 per sq.ft (2024)
• Lakshmi Nagar: Rs 2,650 per sq.ft (2024)
• Mawlieswarar Nagar: Rs 2,650 per sq.ft (2024)
• Mettu Street: Rs 2,450 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 2,650 per sq.ft, the total guideline value amounts to Rs 26,50,000. The stamp duty at 7% would be Rs 1,85,500, and the registration fee at 2% would be Rs 53,000, bringing the total to Rs 2,38,500. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Madha Nagar?

The Sub Registrar Office that covers Madha Nagar 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 Moulivakkam

The guideline value plays a crucial role during the registration of property transactions in Moulivakkam. It serves as a benchmark for determining the stamp duty and registration fees that are applicable when buying or selling property in the area.

When a property is sold, the guideline value is used to calculate the applicable duties, ensuring that the transaction is recorded accurately. It is essential for both buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Madha Nagar?

The current guideline value of Madha Nagar is Rs 2,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,400 per sq.ft in 2012 to Rs 1,608 per sq.ft in 2017, then to Rs 2,400 per sq.ft in 2023, and finally to Rs 2,650 per sq.ft in 2024.

What are the other streets in Moulivakkam with their guideline values?

Other streets in Moulivakkam include L.T. Avenue, Mahalakshmi Nagar, Mangadu Road, Lakshmi Nagar, Mawlieswarar Nagar, and Mettu Street, with values ranging from Rs 2,450 to Rs 2,650 per sq.ft as of 2024.

What is the stamp duty for property in Madha Nagar?

The stamp duty for property in Madha Nagar is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 26,50,000, the stamp duty would be Rs 1,85,500.

Where is the Sub Registrar Office for Madha Nagar located?

The Sub Registrar Office for Madha Nagar is located at No.59, Road Street, Kundrathur, Chennai -600 069. This office handles the registration of property transactions in the area.