Guideline Value for Madurai Meenakshi Nagar - Kadamban Street

Madurai Meenakshi Nagar - Kadamban Street guideline value

The current guideline value for Madurai Meenakshi Nagar - Kadamban Street is Rs 4,950 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village and falls under the Virugambakkam SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Madurai Meenakshi Nagar - Kadamban Street has changed

The guideline value for Madurai Meenakshi Nagar - Kadamban Street has undergone several revisions over the years. Starting with the 2002 revision, the guideline value was Rs 429 per sq.ft. In 2003, it increased to Rs 467 per sq.ft, marking a 9% change. The 2007 revision saw a significant jump to Rs 750 per sq.ft, which was a 61% increase. By 2012, the value rose to Rs 4,500 per sq.ft, representing a substantial 500% increase from the previous revision. However, the 2017 revision saw a decrease to Rs 3,015 per sq.ft, a decline of 33%. The guideline value then increased again to Rs 4,500 per sq.ft in 2023, followed by the current value of Rs 4,950 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1,054%. There are no figures available for revisions in years not mentioned in the register for this street.

Guideline values in Valasaravakkam

In Valasaravakkam, there are a total of 774 streets under the Virugambakkam SRO, with guideline values for 2024 ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 3,850 per sq.ft, placing Madurai Meenakshi Nagar - Kadamban Street above this median.

• Madurai Meenakshi Nagar - Kadamban 2nd Street: Rs 4,950 per sq.ft (2024)
• Madurai Meenakshi Nagar - Kandan 1st Cross Street: Rs 4,950 per sq.ft (2024)
• Madurai Meenakshi Nagar - Kadamban 1st Street: Rs 4,950 per sq.ft (2024)
• Madurai Meenakshi Nagar - Kandan 1st Street: Rs 4,950 per sq.ft (2024)
• Madurai Meenakshi Nagar - Arumuga Navalar Street: Rs 4,950 per sq.ft (2024)
• Madurai Meenakshi Nagar - Kandan Street: Rs 4,950 per sq.ft (2024)

Stamp duty and registration fee for property in Madurai Meenakshi Nagar - Kadamban Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,950 per sq.ft, the total guideline value would be Rs 49,50,000. The stamp duty at 7% would amount to Rs 3,46,500, and the registration fee at 2% would be Rs 99,000, bringing the total cost to Rs 4,45,500. Please note that duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Madurai Meenakshi Nagar - Kadamban Street?

The Sub Registrar Office that covers Madurai Meenakshi Nagar - Kadamban Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for further assistance.

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

The guideline value plays a crucial role during the registration of property transactions in Valasaravakkam. It is used to determine the stamp duty and registration fees payable when a property is bought or sold. This ensures that the transaction is recorded at a fair value as per governmental regulations.

When a property buyer or seller approaches the Sub Registrar Office, the guideline value is referenced to calculate the necessary fees. It is important to note that these fees are based on the higher of the guideline value or the actual sale price of the property.

Frequently asked questions

What is the current guideline value for Madurai Meenakshi Nagar - Kadamban Street?

The current guideline value for Madurai Meenakshi Nagar - Kadamban Street is Rs 4,950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 429 per sq.ft in 2002 to Rs 4,950 per sq.ft in 2024, representing an overall increase of 1,054% over this period.

What are the other streets in Valasaravakkam with the same guideline value?

Other streets in Valasaravakkam with the same guideline value of Rs 4,950 per sq.ft include Madurai Meenakshi Nagar - Kadamban 2nd Street, Madurai Meenakshi Nagar - Kandan 1st Cross Street, and others.

What is the role of the guideline value in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It ensures that the transaction is recorded at a value that aligns with government regulations.

Where is the Sub Registrar Office for Madurai Meenakshi Nagar - Kadamban Street located?

The Sub Registrar Office for Madurai Meenakshi Nagar - Kadamban Street is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.