Guideline Value for Madha Nagar

Madha Nagar guideline value

The current guideline value of Madha Nagar, located in Thandalkazhani village under the Redhills SRO, is Rs 660 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class III Type - I.

How the guideline value of Madha Nagar has changed

The guideline value for Madha Nagar has seen significant changes over the years. In 2003, the value was Rs 51 per sq.ft, which increased to Rs 200 per sq.ft in 2007, marking a substantial rise of 292%. The value then grew to Rs 600 per sq.ft in 2012, reflecting a 200% increase from the previous revision. However, it decreased to Rs 402 per sq.ft in 2017, a drop of 33%. The value rebounded to Rs 600 per sq.ft in 2023, before reaching the current rate of Rs 660 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, the guideline value has increased by 1194% from Rs 51 per sq.ft in 2003 to Rs 660 per sq.ft in 2024. The register has no figure for the year 2002 for this street.

Guideline values in Thandalkazhani

In Thandalkazhani, there are 27 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 660 to Rs 2,750 per sq.ft, with a median value of Rs 880 per sq.ft. The guideline value for Madha Nagar is below this median.

• Lakshmi Amman Koil Street: Rs 1,210 per sq.ft (2024)
• M.G.R. Street: Rs 880 per sq.ft (2024)
• Moogambigai Nagar: Rs 880 per sq.ft (2024)
• Moogambigai Nagar Extn: Rs 880 per sq.ft (2024)
• Kannadasan Street: Rs 880 per sq.ft (2024)
• Kambar Street: Rs 1,210 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 660 per sq.ft, the total guideline value amounts to Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, and the registration fee at 2% would be Rs 13,200, totaling Rs 59,400. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more details, 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 Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Thandalkazhani. It serves as a benchmark for determining the minimum price at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are necessary for the legal transfer of ownership. This ensures that the transaction is officially recognized by the authorities.

Frequently asked questions

What is the current guideline value of Madha Nagar?

The current guideline value of Madha Nagar is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 51 per sq.ft in 2003 to Rs 660 per sq.ft in 2024, which is an overall increase of 1194%.

What is the land classification of Madha Nagar?

Madha Nagar is classified as Residential Class III Type - I, indicating its suitability for residential development.

What other streets have guideline values in Thandalkazhani?

Other streets in Thandalkazhani include Lakshmi Amman Koil Street at Rs 1,210 per sq.ft, M.G.R. Street, Moogambigai Nagar, Moogambigai Nagar Extn, and Kannadasan Street at Rs 880 per sq.ft, and Kambar Street at Rs 1,210 per sq.ft.

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

The Sub Registrar Office for Madha Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.