Guideline Value for Madhavaram Moolachatram

Madhavaram Moolachatram guideline value

The current guideline value of Madhavaram Moolachatram is Rs 1,600 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village under the Madhavaram SRO and is classified as Residential Class II Type - I.

How the guideline value of Madhavaram Moolachatram has changed

In the 2017 revision, the guideline value was Rs 1,005 per sq.ft. The subsequent revision in 2024 saw a significant increase to Rs 1,600 per sq.ft, marking a change of +59%. The register has no figure for this street for the years 2023, 2012, 2007, 2003, and 2002.

Thus, the guideline value has risen from Rs 1,005 per sq.ft in 2017 to Rs 1,600 per sq.ft in 2024. This increase reflects the adjustments made in the guideline values over the years.

Guideline values in Madhavaram

In Madhavaram, there are 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 is Rs 1,600 per sq.ft, which aligns with the current value for Madhavaram Moolachatram.

• Madhavaram Milk Colony Road: Rs 2,450 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 Moolachatram

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total fees to Rs 1,44,000. It is important to note that 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 information.

Which Sub Registrar Office covers Madhavaram Moolachatram?

The Madhavaram Moolachatram area is covered by 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 plays a crucial role when buying or selling property in Madhavaram Moolachatram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately.

When you approach the registration office, the guideline value will be used to calculate the stamp duty and registration fees, which are essential for the legal transfer of property ownership. It is important to be aware of these values to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Madhavaram Moolachatram?

The current guideline value of Madhavaram Moolachatram is Rs 1,600 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed in recent years?

The guideline value increased from Rs 1,005 per sq.ft in 2017 to Rs 1,600 per sq.ft in 2024, marking a change of +59%.

What is the classification of land in Madhavaram Moolachatram?

The land classification for Madhavaram Moolachatram is Residential Class II Type - I.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is stamp duty calculated in Madhavaram Moolachatram?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a plot valued at Rs 16,00,000, the stamp duty at 7% would be Rs 1,12,000.