Guideline Value for Madhanapuram

Madhanapuram guideline value

The current guideline value of Madhanapuram, located in Varadarajapuram village under the Padappai SRO, is Rs 1,320 per sq.ft, effective from 1 July 2024. This classification falls under Residential Class I Type - I.

How the guideline value of Madhanapuram has changed

The guideline value for Madhanapuram has seen several revisions over the years. In 2007, the value was Rs 175 per sq.ft, which increased significantly to Rs 1,200 per sq.ft in 2012. However, from 2012 to 2017, it decreased to Rs 804 per sq.ft. The value then rose to Rs 1,200 per sq.ft in 2023, and as of the 2024 revision, it stands at Rs 1,320 per sq.ft. The register has no figures for the years 2002 and 2003 for this street.

From 2007 to 2024, the overall change in guideline value is an increase of 654%. The value increased by 586% from 2007 to 2012, followed by a decrease of 33% from 2012 to 2017. The value then increased by 49% from 2017 to 2023, and finally by 10% from 2023 to 2024.

Guideline values in Varadarajapuram

Within Varadarajapuram, there are 250 streets under the Padappai SRO, with 2024 guideline values ranging from Rs 880 to Rs 4,100 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, placing Madhanapuram's 2024 figure below that median.

• M.A Avenue Main Road: Rs 1,650 per sq.ft (2024)
• Mahalakshmi Nagar: Rs 1,320 per sq.ft (2024)
• Leda: Rs 990 per sq.ft (2024)
• Latheef Nagar: Rs 990 per sq.ft (2024)
• Mahalakshmi Nagar Extension: Rs 1,320 per sq.ft (2024)
• LakshmiNarayana Avenue: Rs 990 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 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total fees together to Rs 1,18,800. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

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 Varadarajapuram

The guideline value is a crucial factor during the registration of property transactions in Varadarajapuram. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these charges are based on a standardized value set by the government.

When buying or selling property, the guideline value helps in assessing the fair value of the property. It is essential to refer to the latest guideline values to understand the financial implications of any property transaction.

Frequently asked questions

What is the current guideline value of Madhanapuram?

The current guideline value of Madhanapuram is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 175 per sq.ft in 2007 to Rs 1,320 per sq.ft in 2024, reflecting an overall increase of 654% over the years.

What is the land classification for Madhanapuram?

Madhanapuram is classified under Residential Class I Type - I, indicating its suitability for residential development.

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.

How is the stamp duty calculated for properties in Madhanapuram?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable on the guideline value.