Guideline Value for Madhavaram Moolakkadai G.N.T. Road

Madhavaram Moolakkadai G.N.T. Road guideline value

The current guideline value for Madhavaram Moolakkadai G.N.T. Road is Rs 3,300 per sq.ft, effective from 1 July 2024. This road is located in Madhavaram village, under the Madhavaram Sub Registrar Office (SRO), and is classified as Commercial Class I Type - I.

How the guideline value of Madhavaram Moolakkadai G.N.T. Road has changed

Over the years, the guideline value for Madhavaram Moolakkadai G.N.T. Road has seen several revisions. The 2012 revision set the value at Rs 3,000 per sq.ft, which was a decrease of 33% from the 2017 revision of Rs 2,010 per sq.ft. The 2023 revision raised the value to Rs 3,000 per sq.ft, and the latest 2024 revision increased it further to Rs 3,300 per sq.ft, reflecting a 10% rise from the previous year.

From the 2017 revision to the 2023 revision, there was a significant increase of 49%. Overall, from the 2012 revision to the 2024 revision, there has been a 10% increase. The register has no figures for the years 2002, 2003, and 2007 for this street.

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, with a median value of Rs 1,600 per sq.ft. The guideline value for Madhavaram Moolakkadai G.N.T. Road is above this median.

• Madhavaram Moolachatram Aringar Anna Nagar: Rs 1,600 per sq.ft (2024)
• Madhavaram Moolachatram: Rs 1,600 per sq.ft (2024)
• Madhavaram Milk Colony Road: Rs 2,450 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 Moolakkadai G.N.T. 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 at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, leading to a total of Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Madhavaram Moolakkadai G.N.T. Road?

The Madhavaram Moolakkadai G.N.T. 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 information.

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

The guideline value plays a crucial role in the registration process of property transactions in Madhavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, it is essential to be aware of the current guideline value, as it can affect the overall costs involved in the transaction. Buyers should ensure that the sale price is not lower than the guideline value to avoid complications during registration.

Frequently asked questions

What is the current guideline value for Madhavaram Moolakkadai G.N.T. Road?

The current guideline value for Madhavaram Moolakkadai G.N.T. 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 2023 to Rs 3,300 per sq.ft in 2024, which is a 10% increase. It was Rs 2,010 per sq.ft in 2017, which increased by 49% to Rs 3,000 per sq.ft in 2023.

What is the land classification for this road?

Madhavaram Moolakkadai G.N.T. Road is classified as Commercial Class I Type - I, indicating its suitability for commercial activities.

What is the registration fee for properties in Madhavaram Moolakkadai G.N.T. Road?

The registration fee is 2% of the guideline value. For example, for a property valued at Rs 33,00,000, the registration fee would be Rs 66,000.

Where is the Madhavaram Sub Registrar Office located?

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