Guideline Value for Madhavi Street

Madhavi Street guideline value

The current guideline value of Madhavi Street in Menambedu village under the Ambattur SRO is Rs 1,700 per sq.ft, effective from 1 July 2024. This street falls under the Residential Special Type - I land classification.

How the guideline value of Madhavi Street has changed

The guideline value for Madhavi Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,600 per sq.ft, which then decreased to Rs 1,072 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 1,600 per sq.ft in the 2023 revision, and currently stands at Rs 1,700 per sq.ft from the 2024 revision, marking a 6% increase from the previous year.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. Overall, comparing the 2012 revision to the 2024 revision, the guideline value has increased by 6%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Menambedu

In Menambedu village, there are 171 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 6,680 per sq.ft, with a median value of Rs 1,003 per sq.ft. Madhavi Street's 2024 figure of Rs 1,700 per sq.ft is above the median value.

• Madhavan Street: Rs 1,700 per sq.ft (2024)
• Maga Ganapathy Street: Rs 1,001 per sq.ft (2024)
• Lenin Street(gnanamurthy nagar): Rs 1,700 per sq.ft (2024)
• Lakshmi Colony: Rs 1,300 per sq.ft (2024)
• Mariyamman Koil Street: Rs 1,001 per sq.ft (2024)
• Kuppusamy Street: Rs 1,001 per sq.ft (2024)

Stamp duty and registration fee for property in Madhavi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value amounts to Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total to Rs 1,53,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Madhavi Street?

The Madhavi Street is covered by the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role during the registration of property transactions in Menambedu. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold.

When a buyer or seller approaches the registration office, the guideline value will be referenced to assess the applicable charges. This ensures that all transactions are recorded accurately and fairly according to the established values.

Frequently asked questions

What is the current guideline value of Madhavi Street?

The current guideline value of Madhavi Street is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,600 per sq.ft in 2012 to Rs 1,072 per sq.ft in 2017, then increased to Rs 1,600 per sq.ft in 2023, and is currently Rs 1,700 per sq.ft in 2024.

What is the land classification of Madhavi Street?

Madhavi Street is classified as Residential Special Type - I under the land classification system.

What are the guideline values of other streets in Menambedu?

Other streets in Menambedu have varying guideline values, with Madhavan Street and Lenin Street both at Rs 1,700 per sq.ft, while Maga Ganapathy Street, Mariyamman Koil Street, and Kuppusamy Street are at Rs 1,001 per sq.ft.

Where can I find the Ambattur Sub Registrar Office?

The Ambattur Sub Registrar Office is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.