Guideline Value for Madhavaram High Road 1st Lane

Madhavaram High Road 1st Lane guideline value

The current guideline value of Madhavaram High Road 1st Lane is Rs 3,800 per sq.ft, effective from 1 July 2024. This street is located in Sembiam village and falls under the Sembiam SRO. The land classification for this area is Mixed Special Type - I.

How the guideline value of Madhavaram High Road 1st Lane has changed

Over the years, the guideline value of Madhavaram High Road 1st Lane has seen significant changes. In 2007, the guideline value was Rs 800 per sq.ft. This increased to Rs 3,500 per sq.ft in 2012, marking a substantial rise of 338%. However, it then decreased to Rs 2,345 per sq.ft in 2017, reflecting a drop of 33%. The value rebounded to Rs 3,500 per sq.ft in 2023, and currently stands at Rs 3,800 per sq.ft since the 2024 revision, which is a 9% increase from the previous year.

From 2017 to 2023, the increase was 49%, bringing the value back up significantly. Overall, from 2007 to 2024, the guideline value has increased by 375%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Sembiam

In Sembiam village, there are 250 streets under the Sembiam SRO that carry a guideline value for 2024, ranging from Rs 1,700 to Rs 7,100 per sq.ft. The median guideline value in this area is Rs 2,700 per sq.ft, making the current value of Madhavaram High Road 1st Lane above that median.

• Madhavaram High Road 2nd Lane: Rs 3,800 per sq.ft (2024)
• Madhavaram High Road: Rs 6,000 per sq.ft (2024)
• Maduma Nagar: Rs 3,500 per sq.ft (2024)
• Maduraisamy Madam 1st Street: Rs 3,500 per sq.ft (2024)
• Maduraisamy Madam 2nd Street: Rs 3,500 per sq.ft (2024)
• Maduraisamy Madam 3rd Street: Rs 3,500 per sq.ft (2024)

Stamp duty and registration fee for property in Madhavaram High Road 1st Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 3,800 per sq.ft, the guideline value amounts to Rs 38,00,000. The stamp duty at 7% would be Rs 2,66,000, while the registration fee at 2% would be Rs 76,000, totaling Rs 3,42,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Madhavaram High Road 1st Lane?

The Sub Registrar Office that covers Madhavaram High Road 1st Lane is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. For more information, you can find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Sembiam. It is used to determine the stamp duty and registration fees that must be paid during the transaction. The guideline value is set by the government and is updated periodically to reflect market conditions.

When a property is sold, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Madhavaram High Road 1st Lane?

The current guideline value of Madhavaram High Road 1st Lane is Rs 3,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 800 per sq.ft in 2007 to Rs 3,800 per sq.ft in 2024, reflecting an overall increase of 375% over the years.

What is the median guideline value in Sembiam?

The median guideline value in Sembiam is Rs 2,700 per sq.ft, with Madhavaram High Road 1st Lane's value being above this median.

What are the stamp duty and registration fees for a property on this street?

For a 1,000 sq.ft property at the current guideline value, the total stamp duty and registration fees would amount to Rs 3,42,000, based on the guideline value of Rs 38,00,000.

Which office handles registrations for Madhavaram High Road 1st Lane?

The Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011, handles registrations for Madhavaram High Road 1st Lane.