Guideline Value for Madhavan Nagar, Lakshmipuram (Ward-26)

Madhavan Nagar, Lakshmipuram (Ward-26) guideline value

The current guideline value for Madhavan Nagar, Lakshmipuram (Ward-26) is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class III Type - I.

How the guideline value of Madhavan Nagar, Lakshmipuram (Ward-26) has changed

The guideline value for this street has undergone several revisions over the years. The earliest recorded revision was in 2017, where the guideline value was Rs 804 per sq.ft. With the latest revision in 2024, the value increased to Rs 1,300 per sq.ft, marking a significant change of +62% from the previous figure.

There are no recorded figures for the years 2023, 2012, 2007, 2003, and 2002 for this street. The only available figures are from the 2017 and 2024 revisions.

Guideline values in Madhavaram

In the Madhavaram village, there are a total of 1,946 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value in this area is Rs 1,600 per sq.ft, placing Madhavan Nagar's 2024 figure below this median.

• Madhavan Nagar (Madhavaram Milk Colony): Rs 1,600 per sq.ft (2024)
• Madhavaram Co-Op Nagar, (Ward-02): Rs 2,700 per sq.ft (2024)
• Madhavaram Edapalayam Milk Colony: Rs 1,300 per sq.ft (2024)
• Madhavaram High Road: Rs 3,300 per sq.ft (2024)
• Madhavaram Milk Colony Road: Rs 2,450 per sq.ft (2024)
• Madhavaram Moolachatram: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Madhavan Nagar, Lakshmipuram (Ward-26)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total to Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Madhavan Nagar, Lakshmipuram (Ward-26)?

The Madhavan Nagar, Lakshmipuram (Ward-26) area is covered by the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Madhavaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two values is used to calculate the applicable charges. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Madhavan Nagar?

The current guideline value of Madhavan Nagar, Lakshmipuram (Ward-26) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since the 2017 revision, the guideline value has increased from Rs 804 per sq.ft to Rs 1,300 per sq.ft in 2024, representing a change of +62%.

Are there any revisions without figures for Madhavan Nagar?

Yes, the guideline value register has no figures for Madhavan Nagar for the years 2023, 2012, 2007, 2003, and 2002.

What is the median guideline value in Madhavaram?

The median guideline value for the 1,946 streets in Madhavaram is Rs 1,600 per sq.ft, which is above the current value for Madhavan Nagar.

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

The Madhavaram Sub Registrar Office, which covers Madhavan Nagar, is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.