Guideline Value for Madhavaram High Road

Madhavaram High Road guideline value

The current guideline value of Madhavaram High Road is Rs 5,500 per sq.ft, effective from 1 July 2024. This road is located in Siruvallur village and falls under the Sembiam SRO. The land classification for this area is 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. Starting from Rs 814 per sq.ft in 2002, it increased to Rs 1,048 per sq.ft in 2003, marking a 29% rise. The value then continued to rise to Rs 1,300 per sq.ft in 2007, which was a 24% increase. Following this, the guideline value saw a significant jump to Rs 5,000 per sq.ft in 2012, reflecting a 285% increase. However, it dropped to Rs 3,350 per sq.ft in 2017, a decrease of 33%. The value then rose again to Rs 5,000 per sq.ft in 2023, and most recently to Rs 5,500 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 576%. There are no figures for the years not mentioned in the register for this street.

Guideline values in Siruvallur

In Siruvallur, there are 86 streets under the Sembiam SRO that carry a 2024 guideline value, ranging from Rs 1,600 to Rs 6,600 per sq.ft. The median guideline value for these streets is Rs 1,900 per sq.ft, and Madhavaram High Road's 2024 figure is above this median.

• Manicka Vinayagar Koil Street: Rs 2,200 per sq.ft (2024)
• Market Lane: Rs 1,900 per sq.ft (2024)
• Market Street: Rs 3,900 per sq.ft (2024)
• Masilamani Lane: Rs 1,600 per sq.ft (2024)
• Munusamy Achari Street: Rs 1,900 per sq.ft (2024)
• Murugesa Street: Rs 1,900 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 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty, charged at 7%, would be Rs 3,85,000, while the registration fee at 2% would be Rs 1,10,000. Together, the total cost for stamp duty and registration fee would be Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Madhavaram High Road?

The Sub Registrar Office that covers Madhavaram High Road is 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 Siruvallur

The guideline value plays a crucial role in the registration process when buying or selling property in Siruvallur. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with registration requirements.

During the registration process, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures 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 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 814 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 576% over these years.

What are the stamp duty and registration fees for properties on Madhavaram High Road?

For a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000 and the registration fee would be Rs 1,10,000, totaling Rs 4,95,000.

Which Sub Registrar Office is responsible for Madhavaram High Road?

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

What is the land classification for Madhavaram High Road?

The land classification for Madhavaram High Road is Commercial Class I Type - I.