Guideline Value for Madura Edapalayam

Madura Edapalayam guideline value

The current guideline value of Madura Edapalayam is Rs 1,300 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 III Type - I.

How the guideline value of Madura Edapalayam has changed

Over the years, the guideline value of Madura Edapalayam has seen several revisions. The 2012 revision set the value at Rs 1,200 per sq.ft, which was then reduced to Rs 804 per sq.ft in the 2017 revision. However, the 2023 revision increased the value to Rs 1,200 per sq.ft, followed by the latest 2024 revision that raised it to Rs 1,300 per sq.ft. The register has no figures for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, the guideline value decreased by 33%. Subsequently, there was a significant increase of 49% from 2017 to 2023. The overall change from 2012 to 2024 shows an increase of 8% in the guideline value.

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 of Madura Edapalayam is below this median.

• Madurai Manavazhan Avenue: Rs 1,300 per sq.ft (2024)
• Madras Tondiarpet High Road (M.T.H. Road) (Ward-20): Rs 3,300 per sq.ft (2024)
• Madurai Sri Balaji Nagar: Rs 1,300 per sq.ft (2024)
• Madurai Sri Balaji Nagar Part-I: Rs 1,300 per sq.ft (2024)
• Madhavaram Moolakkadai G.N.T. Road: Rs 3,300 per sq.ft (2024)
• Madhavaram Moolachatram Aringar Anna Nagar: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Madura Edapalayam

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total fees to Rs 1,17,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Madura Edapalayam?

The Sub Registrar Office covering Madura Edapalayam is 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 properties can be registered, ensuring that the government collects the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value is compared with the actual sale price. The higher of the two values is used to calculate the stamp duty and registration fees, ensuring that all transactions are fairly assessed for taxation purposes.

Frequently asked questions

What is the current guideline value of Madura Edapalayam?

The current guideline value of Madura Edapalayam is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then back to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,300 per sq.ft in 2024.

What is the land classification for Madura Edapalayam?

Madura Edapalayam is classified as Residential Class III Type - I according to the guideline value register.

What are the stamp duty and registration fees for property in Madura Edapalayam?

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000, and the registration fee would be Rs 26,000, totaling Rs 1,17,000.

Where can I find the Madhavaram Sub Registrar Office?

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