Guideline Value for Madhanapuram

Madhanapuram guideline value

The current guideline value of Madhanapuram, located in Mudichur village under the Padappai SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Madhanapuram has changed

The guideline value for Madhanapuram has seen significant changes over the years. In 2007, the guideline value was Rs 200 per sq.ft. This increased dramatically to Rs 2,000 per sq.ft in 2012, marking a 900% rise. However, from 2012 to 2017, the value decreased to Rs 1,340 per sq.ft, a drop of 33%. The value then rose again to Rs 2,000 per sq.ft in 2023, reflecting a 49% increase. The latest revision in 2024 set the value at Rs 2,200 per sq.ft, which is a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 1000%.

Guideline values in Mudichur

Mudichur village has 135 streets under the Padappai SRO, with guideline values ranging from Rs 880 to Rs 4,000 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, which is equal to the current figure for Madhanapuram.

• Lingam Nagar: Rs 2,200 per sq.ft (2024)
• Mahalakshmi Nagar: Rs 1,760 per sq.ft (2024)
• Mahalakshmi Street: Rs 1,760 per sq.ft (2024)
• Lal Bahadur Sasthiri Street: Rs 3,630 per sq.ft (2024)
• Lakshmi Nagar Extn: Rs 3,630 per sq.ft (2024)
• M.A.M Nagar: Rs 3,630 per sq.ft (2024)

Stamp duty and registration fee for property in Madhanapuram

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

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Madhanapuram?

The Sub Registrar Office that covers Madhanapuram is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Mudichur. It determines the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value as per government regulations.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures transparency and accountability in property transactions.

Frequently asked questions

What is the current guideline value of Madhanapuram?

The current guideline value of Madhanapuram 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 changed significantly, from Rs 200 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 1000% over the years.

What is the land classification for Madhanapuram?

The land classification for Madhanapuram is Residential Special Type - I.

What are the stamp duty and registration fees for properties in Madhanapuram?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Where is the Sub Registrar Office for Madhanapuram located?

The Sub Registrar Office for Madhanapuram is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.