Guideline Value for Madhura Nuthanchery

Madhura Nuthanchery guideline value

The current guideline value of Madhura Nuthanchery is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Madambakkam village under the Selaiyur SRO, classified as Residential Special Type - I.

How the guideline value of Madhura Nuthanchery has changed

The guideline value for Madhura Nuthanchery has seen several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which decreased to Rs 1,340 per sq.ft in the 2017 revision. From 2017 to 2024, the value increased significantly to Rs 2,200 per sq.ft, marking a 64% rise. Overall, from 2012 to 2024, there has been a 10% increase in the guideline value.

It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2023 in the register for this street. The fluctuations in the guideline value reflect the changes in the property landscape over time.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO, with guideline values ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value for these streets is Rs 2,400 per sq.ft, placing Madhura Nuthanchery's 2024 figure below this median.

• Madha Street: Rs 1,100 per sq.ft (2024)
• Mada Vilaga Street: Rs 1,100 per sq.ft (2024)
• Mada Veethi Street: Rs 1,700 per sq.ft (2024)
• Madambakkam Sudalai Salai: Rs 2,200 per sq.ft (2024)
• Madambakkam-Nuthancheri Main Road: Rs 2,200 per sq.ft (2024)
• Madambakkam Main Road: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Madhura Nuthanchery

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees to Rs 1,98,000. 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 the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Madhura Nuthanchery?

The Sub Registrar Office that covers Madhura Nuthanchery is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Madambakkam. It serves as a benchmark for determining the minimum price at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with registration requirements.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. This ensures that both parties are aware of the financial implications of the transaction, as these fees are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Madhura Nuthanchery?

The current guideline value of Madhura Nuthanchery is Rs 2,200 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 1,340 per sq.ft in 2017, and then increased to Rs 2,200 per sq.ft in 2024. Overall, there has been a 10% increase from 2012 to 2024.

Where can I find the registration office for Madhura Nuthanchery?

The Selaiyur Sub Registrar Office covers Madhura Nuthanchery, located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Chennai - 600 073.

What are the stamp duty rates for property in Madhura Nuthanchery?

The stamp duty for property transactions in Madhura Nuthanchery is charged at 7% of the guideline value or sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.

How many streets are there in Madambakkam under the Selaiyur SRO?

There are 1,151 streets in Madambakkam under the Selaiyur SRO, with guideline values ranging from Rs 1,100 to Rs 6,000 per sq.ft.