Guideline Value for Madras Pattai Road @

Madras Pattai Road @ guideline value

The current guideline value of Madras Pattai Road @, located in Malligaicherry village under the Konnur SRO, is Rs 2,750 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - I land classification.

How the guideline value of Madras Pattai Road @ has changed

The guideline value for Madras Pattai Road @ has undergone several revisions over the years. The earliest recorded revision is from 2012, where the guideline value was Rs 2,500 per sq.ft. This was followed by a decrease to Rs 1,675 per sq.ft in 2017. The value then increased significantly to Rs 2,500 per sq.ft in the 2023 revision. As of the latest revision in 2024, the guideline value stands at Rs 2,750 per sq.ft, marking a 10% increase from the previous year.

In summary, from 2012 to 2024, the guideline value has increased by 10%. Notable changes include a 49% increase from 2017 to 2023 and a decrease of 33% from 2012 to 2017. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Malligaicherry

Malligaicherry village has a total of 49 streets under the Konnur SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median value for these streets is Rs 2,400 per sq.ft, placing Madras Pattai Road @ above this median.

• Madras Pattai Lane: Rs 2,400 per sq.ft (2024)
• Masuthi First Street: Rs 2,200 per sq.ft (2024)
• Masuthi Second Street: Rs 2,200 per sq.ft (2024)
• Masuthi Street: Rs 2,200 per sq.ft (2024)
• Moorthi Nagar: Rs 3,800 per sq.ft (2024)
• M.T.H. Road: Rs 6,000 per sq.ft (2024)

Stamp duty and registration fee for property in Madras Pattai Road @

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total fees to Rs 2,47,500. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Madras Pattai Road @?

The Sub Registrar Office that covers Madras Pattai Road @ is the Konnur Sub Registrar Office, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. For more information, you can find your SRO.

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

The guideline value is a critical factor in the registration process when buying or selling property in Malligaicherry. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When a property is sold, the buyer must ensure that the sale price is at least equal to the guideline value to avoid any legal complications. The fees are calculated based on the higher of the guideline value or the sale price, ensuring that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Madras Pattai Road @?

The current guideline value of Madras Pattai Road @ is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, with the most recent increase of 10% from Rs 2,500 per sq.ft in 2023 to Rs 2,750 per sq.ft in 2024. Overall, from 2012 to 2024, it has increased by 10%.

What is the land classification for Madras Pattai Road @?

Madras Pattai Road @ falls under the Residential Class I Type - I land classification.

What are the stamp duty and registration fees for properties here?

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500, and the registration fee would be Rs 55,000, totaling Rs 2,47,500. Fees are charged on the higher of the guideline value or the sale price.

Which office handles the registration for Madras Pattai Road @?

The Konnur Sub Registrar Office handles the registration for Madras Pattai Road @. It is located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.