Guideline Value for Madura Nagar

Madura Nagar guideline value

The current guideline value of Madura Nagar, located in Endathure village under the Madurandakam SRO, is Rs 100 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Madura Nagar has changed

Over the years, the guideline value for Madura Nagar has seen several revisions. The most recent revision in 2024 maintains the value at Rs 100 per sq.ft, which is the same as the 2023 revision. Prior to this, the value increased significantly from Rs 67 per sq.ft in 2017 to Rs 100 per sq.ft in 2023, marking a 49% increase. The 2012 revision also set the value at Rs 100 per sq.ft, while the 2007 revision had it at Rs 40 per sq.ft, reflecting a substantial increase of 150% from 2007 to 2012.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 150%.

Guideline values in Endathure

In Endathure, there are six streets under the Madurandakam SRO that carry a guideline value for 2024, ranging from Rs 100 to Rs 202 per sq.ft. The median guideline value in this area is Rs 100 per sq.ft, which is equal to the current value for Madura Nagar.

• K.K.Nagar: Rs 100 per sq.ft (2024)
• Mullai Nagar: Rs 100 per sq.ft (2024)
• Diamond City: Rs 201 per sq.ft (2024)
• Sakthi Nagar: Rs 100 per sq.ft (2024)
• Vgp Royal Springs: Rs 202 per sq.ft (2024)

Stamp duty and registration fee for property in Madura Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 100 per sq.ft, the total guideline value amounts to Rs 1,00,000. The stamp duty, charged at 7%, would be Rs 7,000, while the registration fee at 2% would be Rs 2,000, bringing the total fees to Rs 9,000. 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 Madura Nagar?

The Madura Nagar area falls under the jurisdiction of the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Endathure. It serves as a benchmark for determining the minimum value of a property, ensuring that the registration process is transparent and standardized. Buyers and sellers must consider this value to understand the financial implications of their transactions.

When registering property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions, based on the established guideline values for different areas.

Frequently asked questions

What is the current guideline value of Madura Nagar?

The current guideline value of Madura Nagar is Rs 100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 100 per sq.ft since the 2023 revision. It increased from Rs 67 per sq.ft in 2017 to Rs 100 per sq.ft in 2023, marking a 49% increase.

What is the land classification for Madura Nagar?

Madura Nagar is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where is the Madurandakam Sub Registrar Office located?

The Madurandakam Sub Registrar Office is located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

How is stamp duty calculated for properties in Madura Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 1,00,000, the stamp duty would be Rs 7,000 at a rate of 7%.