Guideline Value for Madhavan Street

Madhavan Street guideline value

The current guideline value of Madhavan Street in Menambedu village, under the Ambattur SRO, is Rs 1,700 per sq.ft, effective from 1 July 2024. This classification falls under Residential Special Type - I.

How the guideline value of Madhavan Street has changed

The guideline value for Madhavan Street has seen several revisions over the years. In 2012, the value was set at Rs 1,600 per sq.ft, which then decreased to Rs 1,072 per sq.ft in 2017. Following this, the value significantly increased to Rs 1,600 per sq.ft in 2023, and then to Rs 1,700 per sq.ft in 2024, marking a 6% increase from the previous year. Overall, from 2012 to 2024, the guideline value has increased by 6%.

In terms of percentage changes, the value rose by 49% from 2017 to 2023. The revision figures for the years 2002, 2003, and 2007 are not available in the register for this street.

Guideline values in Menambedu

In Menambedu, there are 171 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 6,680 per sq.ft. The median guideline value in this area is Rs 1,003 per sq.ft, making Madhavan Street's 2024 figure above that median.

• Madhavi Street: Rs 1,700 per sq.ft (2024)
• Maga Ganapathy Street: Rs 1,001 per sq.ft (2024)
• Lenin Street(gnanamurthy nagar): Rs 1,700 per sq.ft (2024)
• Lakshmi Colony: Rs 1,300 per sq.ft (2024)
• Mariyamman Koil Street: Rs 1,001 per sq.ft (2024)
• Kuppusamy Street: Rs 1,001 per sq.ft (2024)

Stamp duty and registration fee for property in Madhavan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value amounts to Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total cost for these fees to Rs 1,53,000. 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 to estimate your fees.

Which Sub Registrar Office covers Madhavan Street?

The Madhavan Street falls under the jurisdiction of the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration of property transactions in Menambedu. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized value set by the government.

When buying or selling property, the guideline value helps in determining the official value of the property for legal and tax purposes. This ensures transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Madhavan Street?

The current guideline value of Madhavan Street is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,600 per sq.ft in 2012 to Rs 1,072 per sq.ft in 2017, then to Rs 1,600 per sq.ft in 2023, and finally to Rs 1,700 per sq.ft in 2024.

What are the registration fees for property in Madhavan Street?

For a property valued at Rs 17,00,000, the stamp duty would be Rs 1,19,000 and the registration fee would be Rs 34,000, totaling Rs 1,53,000.

Which Sub Registrar Office covers Madhavan Street?

The Ambattur Sub Registrar Office covers Madhavan Street, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

What is the median guideline value in Menambedu?

The median guideline value in Menambedu is Rs 1,003 per sq.ft, with Madhavan Street's 2024 guideline value being above this median.