Guideline Value for Madha Town Extn

Madha Town Extn guideline value

The current guideline value of Madha Town Extn is Rs 2,860 per sq.ft, effective from 1 July 2024. This area is located in Kerugambakkam village under the Pammal SRO, classified as Commercial Class I Type - I.

How the guideline value of Madha Town Extn has changed

The guideline value for Madha Town Extn has seen significant changes over the years. The 2017 revision set the value at Rs 1,742 per sq.ft, which increased to Rs 2,600 per sq.ft in the 2023 revision, marking a 49% rise. The most recent 2024 revision has established the value at Rs 2,860 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. The register does not contain figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Kerugambakkam

In Kerugambakkam, a total of 144 streets fall under the Pammal SRO, with 2024 guideline values ranging from Rs 1,100 to Rs 4,800 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Madha Town Extn's 2024 figure above that median.

• Madha Town Extension - I: Rs 3,850 per sq.ft (2024)
• Madha Town: Rs 2,860 per sq.ft (2024)
• Maansarovar Nagar: Rs 3,450 per sq.ft (2024)
• Lendi Garden: Rs 1,980 per sq.ft (2024)
• Leelavathy Nagar: Rs 1,980 per sq.ft (2024)
• Lakshmi Nagar (ward 6): Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Madha Town Extn

For a 1,000 sq.ft plot at the current guideline value of Rs 2,860 per sq.ft, the total guideline value amounts to Rs 28,60,000. The stamp duty at 7% would be Rs 2,00,200, and the registration fee at 2% would be Rs 57,200. Together, the total cost for these fees would be Rs 2,57,400. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Madha Town Extn?

Madha Town Extn falls under 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 Kerugambakkam

The guideline value plays a crucial role in property transactions in Kerugambakkam, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with registration requirements.

When registering a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Madha Town Extn?

The current guideline value of Madha Town Extn is Rs 2,860 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased by 64%, from Rs 1,742 per sq.ft in 2017 to Rs 2,860 per sq.ft in 2024. The most recent increase was 10% from the 2023 revision.

What are the stamp duty and registration fees for properties in Madha Town Extn?

The stamp duty is charged at 7%, and the registration fee is charged at 2% of the guideline value or the sale price, whichever is higher. For a 1,000 sq.ft plot, the total fees would amount to Rs 2,57,400.

Which Sub Registrar Office covers Madha Town Extn?

The Pammal Sub Registrar Office covers Madha Town Extn, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the land classification of Madha Town Extn?

Madha Town Extn is classified as Commercial Class I Type - I, which indicates its suitability for commercial activities.