Guideline Value for Madura Mettupalayam Reddy St ( Ward No.30 )

Madura Mettupalayam Reddy St ( Ward No.30 ) guideline value

The current guideline value of Madura Mettupalayam Reddy St ( Ward No.30 ) is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village and falls under the Madhavaram SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Madura Mettupalayam Reddy St ( Ward No.30 ) has changed

The guideline value for Madura Mettupalayam Reddy St has seen several revisions over the years. In 2012, the value was Rs 1,200 per sq.ft, which then decreased to Rs 804 per sq.ft in 2017. Following that, it rose significantly to Rs 1,200 per sq.ft in 2023, and currently stands at Rs 1,300 per sq.ft as of the 2024 revision. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value increased by 49%. The overall change from 2012 to 2024 shows an increase of 8% from the 2012 figure.

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 Madura Mettupalayam Reddy St is below this median.

• Madura Mettupalayam Reddy St East End ( Ward No.30 ): Rs 1,300 per sq.ft (2024)
• Madura Mettupalayam M.G.R.Nagar 2nd St ( Ward No.30 ): Rs 1,300 per sq.ft (2024)
• Madura Mettupalayam M.G.R.Nagar 1st St ( Ward No.30 ): Rs 1,300 per sq.ft (2024)
• Madura Mettupalayam Main St, M.G.R.Nagar ( Ward No.30 ): Rs 1,300 per sq.ft (2024)
• Maduramettupalayam Main Road ( Ward No.30 ): Rs 1,300 per sq.ft (2024)
• Madurai Sri Balaji Nagar Part-I: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Madura Mettupalayam Reddy St ( Ward No.30 )

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, making the total cost Rs 1,17,000. 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 information on fees.

Which Sub Registrar Office covers Madura Mettupalayam Reddy St ( Ward No.30 )?

The Sub Registrar Office that covers Madura Mettupalayam Reddy St ( Ward No.30 ) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for further assistance.

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

The guideline value is a crucial factor when registering property transactions in Madhavaram. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the registration process is standardized and transparent.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both parties are aware of the financial implications of the transaction based on the established guideline value.

Frequently asked questions

What is the current guideline value of Madura Mettupalayam Reddy St?

The current guideline value of Madura Mettupalayam Reddy St ( Ward No.30 ) 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 increased to Rs 1,200 per sq.ft in 2023, and is currently Rs 1,300 per sq.ft as of 2024.

What is the land classification for Madura Mettupalayam Reddy St?

The land classification for Madura Mettupalayam Reddy St ( Ward No.30 ) is Residential Class III Type - I.

Where can I find the Madhavaram Sub Registrar Office?

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

How is stamp duty calculated for properties in Madhavaram?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 13,00,000, the stamp duty at 7% would be Rs 91,000.