Guideline Value for Madhavaram Milk Colony Road

Madhavaram Milk Colony Road guideline value

The current guideline value of Madhavaram Milk Colony Road is Rs 2,450 per sq.ft, effective from 1 July 2024. This road is located in Madhavaram village, under the Madhavaram SRO, with a land classification of Industries Type - I.

How the guideline value of Madhavaram Milk Colony Road has changed

Over the years, the guideline value of Madhavaram Milk Colony Road has seen several revisions. The 2012 revision set the value at Rs 2,000 per sq.ft, which then decreased by 23% to Rs 1,541 per sq.ft in the 2017 revision. The most recent revision in 2024 has increased the guideline value to Rs 2,450 per sq.ft, marking a significant increase of 59% from the 2017 figure.

It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2023 for this street. Overall, from 2012 to 2024, the guideline value has increased by 23%.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value, ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median value for these streets is Rs 1,600 per sq.ft, placing the 2024 figure for Madhavaram Milk Colony Road above this median.

• 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)
• Madhavaram High Road: Rs 3,300 per sq.ft (2024)
• Madhavaram Edapalayam Milk Colony: Rs 1,300 per sq.ft (2024)
• Madhavaram Co-Op Nagar, (Ward-02): Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Madhavaram Milk Colony Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,450 per sq.ft, the total guideline value would be Rs 24,50,000. The stamp duty at 7% would amount to Rs 1,71,500, and the registration fee at 2% would be Rs 49,000, making the total charges Rs 2,20,500. 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 the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Madhavaram Milk Colony Road?

The Madhavaram Milk Colony Road is covered by the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for further assistance.

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

The guideline value plays a crucial role during the registration of property transactions in Madhavaram. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized value.

When buying or selling property, the guideline value is used to determine the official value of the property, which affects the registration process. Buyers should be aware that the charges will be based on the higher value between the guideline value and the sale price.

Frequently asked questions

What is the current guideline value of Madhavaram Milk Colony Road?

The current guideline value of Madhavaram Milk Colony Road is Rs 2,450 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,541 per sq.ft in 2017, and then increased to Rs 2,450 per sq.ft in 2024. There are no figures available for the years 2002, 2003, 2007, and 2023 for this street.

What is the land classification for Madhavaram Milk Colony Road?

The land classification for Madhavaram Milk Colony Road is Industries Type - I. This classification indicates the type of development allowed in the area.

How does the guideline value affect property transactions?

The guideline value is used to calculate stamp duty and registration fees during property transactions. It serves as a benchmark for determining the official value of the property being registered.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles the registration of property transactions in the area.