Guideline Value for Madhan Square

Madhan Square guideline value

The current guideline value of Madhan Square is Rs 500 per sq.ft, effective from 1 July 2024. This property is located in Neelamangalam village, under the Gooduvancheri SRO, and is classified as Residential Class I Type - I.

How the guideline value of Madhan Square has changed

The guideline value for Madhan Square has seen several revisions over the years. The 2012 revision set the value at Rs 500 per sq.ft, which remained unchanged until the 2023 revision, where it was again Rs 500 per sq.ft. The 2017 revision marked a significant increase to Rs 335 per sq.ft, reflecting a 49% increase from the previous figure. Notably, the register has no figures for the years 2002, 2003, and 2007 for this street.

Overall, from 2012 to 2024, the guideline value has remained stable at Rs 500 per sq.ft. The changes between revisions indicate fluctuations, such as a decrease of 33% from 2012 to 2017, followed by a return to the original value in subsequent years.

Guideline values in Neelamangalam

In Neelamangalam, there are 41 streets under the Gooduvancheri SRO that carry a 2024 guideline value, ranging from Rs 400 to Rs 2,000 per sq.ft. The median value among these streets is Rs 600 per sq.ft, placing Madhan Square's 2024 figure below this median.

• Malar Avenue: Rs 500 per sq.ft (2024)
• Metro Square: Rs 600 per sq.ft (2024)
• Kkr Nagar: Rs 900 per sq.ft (2024)
• Kesavan Garden: Rs 1,300 per sq.ft (2024)
• K.C.R. Nagar Phase -II: Rs 1,344 per sq.ft (2024)
• K.C.R.Nagar: Rs 1,344 per sq.ft (2024)

Stamp duty and registration fee for property in Madhan Square

For a 1,000 sq.ft plot at the current rate of Rs 500 per sq.ft, the guideline value amounts to Rs 5,00,000. The stamp duty at 7% would be Rs 35,000, and the registration fee at 2% would be Rs 10,000, making the total Rs 45,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Madhan Square?

The Madhan Square property falls under the jurisdiction of the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration process when buying or selling property in Neelamangalam. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these charges are calculated fairly based on the property's value.

When a property is sold, the guideline value helps in establishing the official value for registration purposes. Buyers and sellers should be aware that the guideline value may differ from the actual sale price, but the registration fees will always be based on the higher of the two values.

Frequently asked questions

What is the current guideline value of Madhan Square?

The current guideline value of Madhan Square is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 500 per sq.ft since 2012, with a notable increase to Rs 335 per sq.ft in 2017 and then returning to Rs 500 per sq.ft in subsequent years.

What is the land classification for Madhan Square?

Madhan Square is classified as Residential Class I Type - I, which indicates the type of development allowed in the area.

Where can I find the registration office for Madhan Square?

The Gooduvancheri Sub Registrar Office covers Madhan Square, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Madhan Square?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 500 per sq.ft would incur a total of Rs 45,000 in stamp duty and registration fees.