Guideline Value for Madhavaram High Road

Madhavaram High Road guideline value

The current guideline value of Madhavaram High Road is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village, under the Madhavaram SRO, classified as Commercial Class I 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. In 2012, the value was set at Rs 3,000 per sq.ft, which decreased to Rs 2,010 per sq.ft in 2017. However, the recent revision in 2024 has increased the value significantly to Rs 3,300 per sq.ft, marking a 64% rise from the 2017 figure. Overall, from 2012 to 2024, there has been a 10% increase in the guideline value.

It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2023 in the register for this street. The fluctuations in the guideline values reflect the changes from the previous revisions, particularly the notable increase from 2017 to 2024.

Guideline values in Madhavaram

Madhavaram village has a total of 1,946 streets under the Madhavaram SRO, with the 2024 guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value for these streets is Rs 1,600 per sq.ft, indicating that Madhavaram High Road's 2024 figure of Rs 3,300 per sq.ft is above the median.

• Madhavaram Edapalayam Milk Colony: Rs 1,300 per sq.ft (2024)
• Madhavaram Co-Op Nagar, (Ward-02): Rs 2,700 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 High Road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty, calculated at 7%, would be Rs 2,31,000, while the registration fee at 2% would be Rs 66,000. Together, these fees total Rs 2,97,000. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Madhavaram High Road?

The Madhavaram High Road falls under the jurisdiction of the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value is a crucial factor during property registration in Madhavaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the registration process reflects the current market conditions and property values.

Frequently asked questions

What is the current guideline value of Madhavaram High Road?

The current guideline value of Madhavaram High Road is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, and then increased to Rs 3,300 per sq.ft in 2024. This represents a 64% increase from 2017 to 2024.

What is the land classification of Madhavaram High Road?

Madhavaram High Road is classified as Commercial Class I Type - I. This classification influences the guideline value and property usage in the area.

Where can I find the registration office for Madhavaram High Road?

The registration office for Madhavaram High Road is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is the stamp duty calculated for properties in Madhavaram?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if the guideline value is Rs 33,00,000, the stamp duty at 7% would be Rs 2,31,000.