Guideline Value for Madhavan Nagar 1st Street

Madhavan Nagar 1st Street guideline value

The current guideline value of Madhavan Nagar 1st Street is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Thalakanancherry village under the Alandur SRO, classified as Residential Class II Type - II.

How the guideline value of Madhavan Nagar 1st Street has changed

The guideline value for Madhavan Nagar 1st Street has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 2,800 per sq.ft, which is an increase of 12% from Rs 2,500 per sq.ft in the 2023 revision. Prior to that, the value was Rs 1,675 per sq.ft in 2017, reflecting a significant increase of 49% from that year to 2023.

Looking further back, the guideline value was Rs 2,500 per sq.ft in 2012, which was a decrease of 33% from Rs 750 per sq.ft in 2007. Overall, from 2007 to 2024, the guideline value has increased by 273%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Thalakanancherry

In Thalakanancherry, there are 318 streets under the Alandur SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 5,500 per sq.ft. The median guideline value in this village is Rs 3,900 per sq.ft, indicating that Madhavan Nagar 1st Street's 2024 figure is below that median.

• Madhavan Nagar 2nd Street: Rs 2,800 per sq.ft (2024)
• Madippakkam Main road: Rs 5,500 per sq.ft (2024)
• Lakshmi Street: Rs 4,400 per sq.ft (2024)
• Lakshmi Narasimma Koil Street: Rs 4,400 per sq.ft (2024)
• Malaicharivu Road: Rs 2,800 per sq.ft (2024)
• Lakshmi Nagar Main: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Madhavan Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value would be Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, making the total fees together Rs 2,52,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Madhavan Nagar 1st Street?

The Sub Registrar Office that covers Madhavan Nagar 1st Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration of property transactions in Thalakanancherry. It determines the minimum price at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value acts as a benchmark for both parties. If the sale price is higher than the guideline value, the stamp duty will be calculated on the sale price, ensuring that the transaction reflects the true market conditions.

Frequently asked questions

What is the current guideline value of Madhavan Nagar 1st Street?

The current guideline value of Madhavan Nagar 1st Street is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 750 per sq.ft in 2007 to Rs 2,800 per sq.ft in 2024, marking an overall increase of 273% over the years.

What is the stamp duty rate for properties in Madhavan Nagar 1st Street?

The stamp duty rate for properties in Madhavan Nagar 1st Street is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Madhavan Nagar 1st Street?

The Sub Registrar Office for Madhavan Nagar 1st Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What is the median guideline value in Thalakanancherry?

The median guideline value in Thalakanancherry is Rs 3,900 per sq.ft, which is above the current guideline value of Madhavan Nagar 1st Street.