Guideline Value for Madhavaram Edapalayam Milk Colony

Madhavaram Edapalayam Milk Colony guideline value

The current guideline value of Madhavaram Edapalayam Milk Colony 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 Madhavaram Edapalayam Milk Colony has changed

In the 2017 revision, the guideline value was Rs 804 per sq.ft. This figure increased to Rs 1,300 per sq.ft in the 2024 revision, marking a significant rise of 62%. The register has no figures for the years 2023, 2012, 2007, 2003, and 2002 for this street.

Thus, the only revisions available for Madhavaram Edapalayam Milk Colony are from 2017 and 2024, showcasing a notable increase in the guideline value over this period.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft, with a median value of Rs 1,600 per sq.ft. The guideline value for Madhavaram Edapalayam Milk Colony is below this median.

• Madhavaram Co-Op Nagar, (Ward-02): Rs 2,700 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)
• Madhavaram Moolachatram Aringar Anna Nagar: Rs 1,600 per sq.ft (2024)
• Madhavaram Moolakkadai G.N.T. Road: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Madhavaram Edapalayam Milk Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, making the total charges Rs 1,17,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Madhavaram Edapalayam Milk Colony?

The Madhavaram Edapalayam Milk Colony is covered by the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. For more information, you can find your SRO.

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

The guideline value plays a crucial role during the registration of property transactions in Madhavaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that all transactions are conducted fairly and transparently.

When buying or selling property, the guideline value is used to calculate the applicable fees, which are essential for the legal transfer of ownership. It is important to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Madhavaram Edapalayam Milk Colony?

The current guideline value of Madhavaram Edapalayam Milk Colony 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, representing a change of 62%.

Are there any years without a guideline value figure for this street?

Yes, the register has no figures for the years 2023, 2012, 2007, 2003, and 2002 for Madhavaram Edapalayam Milk Colony.

What are the guideline values of other streets in Madhavaram?

Other streets in Madhavaram have varying guideline values, ranging from Rs 1,600 to Rs 3,300 per sq.ft. The median value in the area is Rs 1,600 per sq.ft.

How is stamp duty calculated for properties in Madhavaram Edapalayam Milk Colony?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For instance, a property valued at Rs 13,00,000 would incur a stamp duty of Rs 91,000 at 7% and a registration fee of Rs 26,000 at 2%.