Guideline Value for Madha Nagarn Extn

Madha Nagarn Extn guideline value

The current guideline value of Madha Nagarn Extn is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Kolapakkam village and falls under the Pammal Sub Registrar Office (SRO). The land classification for this street is Residential Class II Type - I.

How the guideline value of Madha Nagarn Extn has changed

The guideline value for Madha Nagarn Extn has undergone several revisions over the years. The 2017 revision recorded a guideline value of Rs 1,340 per sq.ft, which increased to Rs 2,000 per sq.ft in the 2023 revision. The latest revision in 2024 has set the guideline value at Rs 2,200 per sq.ft, marking an increase of 10% from the 2023 figure. The overall change from the 2017 revision to the 2024 revision is a significant increase of 64%.

It's important to note that there are no figures available for this street in the revisions of 2002, 2003, 2007, and 2012. The changes between the revisions highlight a 49% increase from 2017 to 2023, showcasing the evolving guideline values in this area.

Guideline values in Kolapakkam

In Kolapakkam, there are 111 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 1,650 to Rs 6,850 per sq.ft. The median value across these streets is Rs 2,200 per sq.ft, which is the same as the guideline value for Madha Nagarn Extn.

• Maansarovar villa: Rs 4,600 per sq.ft (2024)
• Maanasarovar Nagar: Rs 2,750 per sq.ft (2024)
• Mahalakshmi Nagar (ward 3): Rs 2,750 per sq.ft (2024)
• Lalitha Nagar: Rs 2,200 per sq.ft (2024)
• Maruthi Nagar: Rs 2,750 per sq.ft (2024)
• Maxworth Nagar Phase I: Rs 3,290 per sq.ft (2024)

Stamp duty and registration fee for property in Madha Nagarn Extn

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost to Rs 1,98,000. It's important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more specific calculations.

Which Sub Registrar Office covers Madha Nagarn Extn?

The Madha Nagarn Extn area is covered by the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone.

You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Kolapakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When you register a property, the stamp duty is calculated based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Madha Nagarn Extn?

The current guideline value of Madha Nagarn Extn is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 64% over this period.

What is the registration fee for property in Madha Nagarn Extn?

The registration fee is calculated at 2% of the guideline value. For a property valued at Rs 22,00,000, the registration fee would be Rs 44,000.

Where is the Pammal Sub Registrar Office located?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone.

How is the stamp duty calculated for property transactions?

The stamp duty is charged at 7% on the higher of the guideline value or the sale price of the property. This ensures that the appropriate amount is collected during property transactions.