Guideline Value for Madhavaram High Road

Madhavaram High Road guideline value

The current guideline value of Madhavaram High Road is Rs 3,800 per sq.ft, effective from 1 July 2024. This road is located in Erukancherry village under the Madhavaram SRO, classified as Commercial Special Type - I.

How the guideline value of Madhavaram High Road has changed

The guideline value for Madhavaram High Road has seen several revisions over the years. The 2012 revision set the value at Rs 3,500 per sq.ft, which then decreased to Rs 2,345 per sq.ft in the 2017 revision. Following that, the 2023 revision increased the value to Rs 3,500 per sq.ft, and the latest revision in 2024 raised it further to Rs 3,800 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From the 2012 revision to the 2017 revision, there was a decrease of 33%. However, from 2017 to 2023, the guideline value increased significantly by 49%. The overall change from 2012 to 2024 shows an increase of 9% in the guideline value.

Guideline values in Erukancherry

In Erukancherry, there are 376 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,900 to Rs 3,800 per sq.ft, with a median of Rs 2,500 per sq.ft. The guideline value for Madhavaram High Road is above this median.

• Mahatma Gandhi 1st Street: Rs 2,200 per sq.ft (2024)
• Mahatma Gandhi 2nd Street: Rs 2,200 per sq.ft (2024)
• Mahatma Gandhi 3rd Street: Rs 2,200 per sq.ft (2024)
• Lal Bhagadur Sastry / Lal Bhagadur Street: Rs 2,200 per sq.ft (2024)
• Maleeshwari Nagar: Rs 2,200 per sq.ft (2024)
• Manavalagar Street / Manavalan Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Madhavaram High Road

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

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

Which Sub Registrar Office covers Madhavaram High Road?

The Madhavaram Sub Registrar Office covers Madhavaram High Road and is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Erukancherry. It serves as the basis for calculating stamp duty and registration fees, ensuring that the transaction is recorded at a value that reflects the current market conditions.

When buying or selling property, it is essential to be aware of the guideline value, as it impacts the overall costs involved in the transaction. Buyers should ensure that they are informed about the latest revisions to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Madhavaram High Road?

The current guideline value of Madhavaram High Road 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 from Rs 3,500 per sq.ft in 2023 to Rs 3,800 per sq.ft in 2024, reflecting a 9% increase. It was previously Rs 2,345 per sq.ft in 2017, showing a significant increase of 49% over the next six years.

What are the other streets in Erukancherry and their guideline values?

Other streets in Erukancherry include Mahatma Gandhi 1st Street, Mahatma Gandhi 2nd Street, Mahatma Gandhi 3rd Street, Lal Bhagadur Sastry / Lal Bhagadur Street, Maleeshwari Nagar, and Manavalagar Street / Manavalan Street, all with a guideline value of Rs 2,200 per sq.ft in 2024.

What are the fees for registering property on Madhavaram High Road?

The total fees for registering a property on Madhavaram High Road, based on a 1,000 sq.ft plot, would be Rs 3,42,000, which includes stamp duty and registration fees calculated on the guideline value.

Where is the Madhavaram Sub Registrar Office located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles registrations for properties in the area.