Guideline Value for Madhavan St

Madhavan St guideline value

The current guideline value of Madhavan St is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village, under the Tambaram Joint 1 SRO, with a land classification of Residential Special Type - II.

How the guideline value of Madhavan St has changed

The guideline value for Madhavan St has experienced several revisions over the years. The 2012 revision set the value at Rs 3,500 per sq.ft, which remained unchanged in the 2017 revision. However, in 2017, the value dropped to Rs 2,345 per sq.ft. In 2023, the value increased to Rs 3,500 per sq.ft, and the latest revision in 2024 raised it further to Rs 3,850 per sq.ft, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value saw a significant increase of 49%. Comparing the 2012 and 2017 revisions, there was a decrease of 33%. Overall, from 2012 to 2024, the guideline value has increased by 10%. There are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, placing Madhavan St's 2024 figure above that median.

• Lottus Avenue: Rs 1,650 per sq.ft (2024)
• Lord venkateshvara nagar: Rs 1,650 per sq.ft (2024)
• Lolpagathur sarashvathiri street: Rs 1,650 per sq.ft (2024)
• L.I.C. Colony: Rs 1,650 per sq.ft (2024)
• Lenin Street: Rs 3,300 per sq.ft (2024)
• Lenin Cross Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Madhavan St

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total cost to Rs 3,46,500. 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 our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Madhavan St?

The Sub Registrar Office that covers Madhavan St is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Chitlapakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is used to calculate the associated fees, ensuring that they are based on a standardized value rather than the negotiated sale price. This helps maintain transparency and consistency in property transactions.

Frequently asked questions

What is the current guideline value of Madhavan St?

The current guideline value of Madhavan St is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the most recent increase of 10% from Rs 3,500 per sq.ft in 2023 to Rs 3,850 per sq.ft in 2024. Overall, from 2012 to 2024, the value has increased by 10%.

What is the median guideline value in Chitlapakkam?

The median guideline value for streets in Chitlapakkam is Rs 1,650 per sq.ft, with Madhavan St's 2024 value being above this median.

What are the stamp duty rates for properties in Madhavan St?

The stamp duty for properties in Madhavan St is charged at 7% of the guideline value or sale price, whichever is higher. For a plot valued at Rs 38,50,000, the stamp duty would amount to Rs 2,69,500.

Which office handles property registrations for Madhavan St?

The Tambaram Joint 1 Sub Registrar Office handles property registrations for Madhavan St, located at No.26, Mes Road, East Tambaram, Chennai-600059.