Guideline Value for Madha nagar

Madha nagar guideline value

The current guideline value of Madha nagar, located in Thirupanthiyoor village under the Sunguvarchattram SRO, is Rs 450 per sq.ft as per the 2024 revision, effective from 1 July 2024. This area is classified as Residential 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. The 2017 revision set the value at Rs 301 per sq.ft, which was then increased to Rs 450 per sq.ft in the 2023 revision, showing a 50% increase. However, the value remained unchanged at Rs 450 per sq.ft in the 2024 revision, reflecting a 0% change from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. Overall, from the 2017 revision to the 2024 revision, there has been a 50% increase in the guideline value.

Guideline values in Thirupanthiyoor

In Thirupanthiyoor, there are 53 streets under the Sunguvarchattram SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 900 per sq.ft, with a median value of Rs 350 per sq.ft. The guideline value of Madha nagar at Rs 450 per sq.ft is above this median.

• Lourdhu Nagar: Rs 350 per sq.ft (2024)
• Lee Royal Farms: Rs 200 per sq.ft (2024)
• MathaKovil Street: Rs 400 per sq.ft (2024)
• Melandai Street: Rs 250 per sq.ft (2024)
• Mettu Street: Rs 250 per sq.ft (2024)
• Kizhandai Street: Rs 200 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, while the registration fee at 2% would be Rs 9,000, bringing the total fees together to Rs 40,500. It is important to note that the 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 nagar?

The Sub Registrar Office that covers Madha nagar is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role when buying or selling property in Thirupanthiyoor. It is used to determine the stamp duty and registration fees that are applicable during the registration process. Buyers and sellers should be aware of the current guideline value to ensure compliance with legal requirements.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. 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 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 increased from Rs 301 per sq.ft in 2017 to Rs 450 per sq.ft in both the 2023 and 2024 revisions, showing a 50% increase overall from 2017 to 2024.

What is the land classification of Madha nagar?

Madha nagar is classified as Residential Special Type - I, which indicates the intended use of the land for residential purposes.

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

The Sub Registrar Office covering Madha nagar is located at Vadivamal Nagar Kandigai Road, Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

How is stamp duty calculated in Madha nagar?

Stamp duty in Madha nagar is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 4,50,000 would incur a stamp duty of Rs 31,500 at a rate of 7%.