Guideline Value for Madhavaram High Road

Madhavaram High Road guideline value

The current guideline value of Madhavaram High Road is Rs 6,000 per sq.ft, effective from 1 July 2024. This road is located in Sembiam village, under the Sembiam Sub Registrar Office (SRO). The land classification for this area is Commercial Class I Type - II.

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 earliest recorded figure is from 2002, where the guideline value was Rs 851 per sq.ft. This increased to Rs 922 per sq.ft in 2003, marking an 8% rise. Following this, the value rose by 30% to Rs 1,200 per sq.ft in 2007. The 2012 revision saw a significant increase, with the value jumping to Rs 5,500 per sq.ft, which is a 358% increase from the previous revision.

The guideline value then remained at Rs 5,500 per sq.ft in 2023 before rising to Rs 6,000 per sq.ft in the 2024 revision, reflecting a 9% increase. Overall, from 2002 to 2024, the guideline value has increased by 605%.

Guideline values in Sembiam

In Sembiam, there are 250 streets under the Sembiam SRO with a 2024 guideline value ranging from Rs 1,700 to Rs 7,100 per sq.ft. The median value for these streets is Rs 2,700 per sq.ft, placing Madhavaram High Road's 2024 figure above that median.

• Madhavaram High Road 1st Lane: Rs 3,800 per sq.ft (2024)
• Madhavaram High Road 2nd Lane: Rs 3,800 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

For a 1,000 sq.ft plot at the current guideline value of Rs 6,000 per sq.ft, the total guideline value amounts to Rs 60,00,000. The stamp duty is charged at 7%, which totals Rs 4,20,000, and the registration fee is 2%, amounting to Rs 1,20,000. Therefore, the total cost for stamp duty and registration fee together is Rs 5,40,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Madhavaram High Road?

The Madhavaram High Road falls under the jurisdiction of the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration process when buying or selling property in Sembiam. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these costs are aligned with the official value of the property.

When a property is registered, the guideline value is compared to the sale price. The higher of the two figures is used to calculate the applicable stamp duty and registration fees, ensuring that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Madhavaram High Road?

The current guideline value of Madhavaram High Road is Rs 6,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 851 per sq.ft in 2002 to Rs 6,000 per sq.ft in 2024, marking a total increase of 605% over this period.

What is the stamp duty rate for property in Madhavaram High Road?

The stamp duty rate for property transactions in Madhavaram High Road is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sembiam Sub Registrar Office located?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is the guideline value used in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. The higher value between the guideline value and the sale price is used for calculating these fees.