Guideline Value for Madha Nagar

Madha Nagar guideline value

The current guideline value of Madha Nagar, located in Sirukalathur village under the Kunrathur SRO, is Rs 450 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - III.

How the guideline value of Madha Nagar has changed

Over the years, the guideline value of Madha Nagar has seen several revisions. The 2007 revision set the value at Rs 200 per sq.ft, which increased to Rs 400 per sq.ft in 2012. However, this was followed by a decrease to Rs 268 per sq.ft in 2017. The value then rose significantly to Rs 400 per sq.ft in 2023, and currently stands at Rs 450 per sq.ft from the 2024 revision. The register has no figures for the years 2002 and 2003 for this street.

In terms of percentage changes, the guideline value increased by 100% from 2007 to 2012, then decreased by 33% from 2012 to 2017. Following this, there was a substantial increase of 49% from 2017 to 2023, and a further rise of 13% from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 125%.

Guideline values in Sirukalathur

In Sirukalathur, there are 32 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 450 to Rs 2,970 per sq.ft. The median value for these streets is Rs 550 per sq.ft, placing Madha Nagar's 2024 figure below this median.

• Kundrathur to Sriperumbuthur Road: Rs 2,900 per sq.ft (2024)
• K.N.Nagar: Rs 1,000 per sq.ft (2024)
• Karuneegar street: Rs 550 per sq.ft (2024)
• Nagammai Nagar: Rs 550 per sq.ft (2024)
• Nagammai Nagar part II: Rs 550 per sq.ft (2024)
• Eathen Garden: Rs 550 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 450 per sq.ft, the total guideline value would be Rs 4,50,000. The stamp duty at 7% would amount to Rs 31,500, and the registration fee at 2% would be Rs 9,000, bringing the total cost for these fees to Rs 40,500. It is important to note that the 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 Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Sirukalathur. It determines the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair price as per government standards.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with property transactions. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price.

Frequently asked questions

What is the current guideline value of Madha Nagar?

The current guideline value of Madha Nagar is Rs 450 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 200 per sq.ft in 2007 to Rs 450 per sq.ft in 2024, with various revisions occurring in between.

What are the stamp duty rates for property in Madha Nagar?

The stamp duty for property in Madha Nagar is charged at 7% of the guideline value or the sale price, whichever is higher.

Where is the Kunrathur Sub Registrar Office located?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is the guideline value used in property transactions?

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