Guideline Value for Madhavan Nagar

Madhavan Nagar guideline value

The current guideline value of Madhavan Nagar is Rs 400 per sq.ft, effective from 1 July 2024. This street is located in Irunkattukottai_B village, under the Sriperumpudur SRO, and is classified as Residential Class III Type - I.

How the guideline value of Madhavan Nagar has changed

Over the years, the guideline value of Madhavan Nagar has seen several revisions. The 2017 revision set the value at Rs 268 per sq.ft, which remained unchanged at Rs 400 per sq.ft in the 2023 revision and continued at Rs 400 per sq.ft in the 2024 revision, indicating a 49% increase from 2017 to 2023 and overall from 2017 to 2024.

There are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street. Therefore, the only revisions with values are from 2017, 2023, and 2024, with the latest revision showing no change from the previous year.

Guideline values in Irunkattukottai_B

In Irunkattukottai_B, there are 54 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 250 to Rs 1,200 per sq.ft. The median value for these streets is Rs 400 per sq.ft, which matches the guideline value of Madhavan Nagar.

• Lakshmi Nagar: Rs 500 per sq.ft (2024)
• Marvel Shire Nagar: Rs 800 per sq.ft (2024)
• Mecca Nagar: Rs 600 per sq.ft (2024)
• Meenakshi Amman Nagar: Rs 600 per sq.ft (2024)
• M.G.R.Street: Rs 250 per sq.ft (2024)
• Kandasala Nagar: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Madhavan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value would be Rs 4,00,000. The stamp duty at 7% would amount to Rs 28,000, and the registration fee at 2% would be Rs 8,000, bringing the total charges to Rs 36,000. It is important to note that the 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 Madhavan Nagar?

The Madhavan Nagar area falls under the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. To find your specific SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process of property transactions in Irunkattukottai_B. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a property is bought or sold, the guideline value is used to calculate the applicable fees, ensuring that the transaction is recorded accurately in the official records. Buyers and sellers must be aware of the current guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Madhavan Nagar?

The current guideline value of Madhavan Nagar is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 400 per sq.ft from 2023 to 2024, showing no change. However, there was a 49% increase from Rs 268 per sq.ft in 2017 to Rs 400 per sq.ft in 2023.

What are the other streets in Irunkattukottai_B?

Other streets in Irunkattukottai_B include Lakshmi Nagar, Marvel Shire Nagar, Mecca Nagar, Meenakshi Amman Nagar, M.G.R.Street, and Kandasala Nagar, with guideline values ranging from Rs 250 to Rs 800 per sq.ft in 2024.

What are the stamp duty and registration fees for property in Madhavan Nagar?

For a property valued at Rs 4,00,000 in Madhavan Nagar, the stamp duty would be Rs 28,000 and the registration fee would be Rs 8,000, totaling Rs 36,000.

Where is the Sub Registrar Office for Madhavan Nagar located?

The Sub Registrar Office covering Madhavan Nagar is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.