Guideline Value

Corporate

Guideline Value for Madurai Pillai 1st Lane

₹1100/sq.ft.

The guideline value for Madurai Pillai 1st Lane in Chinna Sembaram Bakkam village (Sembiam SRO, Chennai zone) is Rs 1100 per sq.ft, effective 1 July 2024. It was Rs 1000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Iii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Chinna Sembaram Bakkam

Village

Sembiam

SRO

Residential Class III Type - I
History
Period Guideline Value
From 1-7-2024 ₹1100 /sq.ft.
From 1-4-2023 ₹1000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹670 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹1000 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹500 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹301 /sq.ft.
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

5, Papermills Road, Sembiam, Chennai - 600011.
044-26702002
[email protected]

DRO (District Registrar Office)

Nsc Bose Road, Kuralagam First Floor, Esplaned Street, Chennai-108
044-25266212
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Madurai Pillai 1st Lane

Need Complete Property Verification?

Get ownership details, EC records, FMB, zone checks, geo-insights & AI analysis - all in one place

Ownership Details
EC Records
FMB Sketch
Zone Checks
Geo-Insights
AI Analysis
Try VerifyMyLand Now ✨ Get comprehensive property verification in minutes

Madurai Pillai 1st Lane guideline value

The current guideline value of Madurai Pillai 1st Lane is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Chinna Sembaram Bakkam village and falls under the Sembiam SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Madurai Pillai 1st Lane has changed

The guideline value for Madurai Pillai 1st Lane has undergone several revisions over the years. The earliest recorded revision is from 2003, with a guideline value of Rs 301 per sq.ft. This increased to Rs 500 per sq.ft in 2007, marking a 66% rise. In 2012, the value rose to Rs 1,000 per sq.ft, reflecting a 100% increase from the previous revision. However, in 2017, the value decreased to Rs 670 per sq.ft, showing a decline of 33%. The value then increased to Rs 1,000 per sq.ft in 2023, before reaching the current figure of Rs 1,100 per sq.ft in 2024, which is a 10% increase from the previous year. Overall, from 2003 to 2024, the guideline value has increased by 265%.

Guideline values in Chinna Sembaram Bakkam

In Chinna Sembaram Bakkam, there are 37 streets under the Sembiam SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 2,700 per sq.ft, with a median value of Rs 1,400 per sq.ft. The guideline value for Madurai Pillai 1st Lane is below this median.

Stamp duty and registration fee for property in Madurai Pillai 1st Lane

For a 1,000 sq.ft plot at the current rate of Rs 1,100 per sq.ft, the guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. Please note that the 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.

Which Sub Registrar Office covers Madurai Pillai 1st Lane?

The Sub Registrar Office that covers Madurai Pillai 1st Lane is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Chinna Sembaram Bakkam

The guideline value is an essential factor in the registration process when buying or selling property in Chinna Sembaram Bakkam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When a property is sold, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties and fees. This process helps maintain transparency and standardization in property transactions within the region.

Frequently asked questions

What is the current guideline value of Madurai Pillai 1st Lane?

The current guideline value of Madurai Pillai 1st Lane is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 301 per sq.ft in 2003 to Rs 1,100 per sq.ft in 2024, reflecting an overall increase of 265% over this period.

What are the other streets in Chinna Sembaram Bakkam with their guideline values?

Other streets in Chinna Sembaram Bakkam include Madurai Pillai 2nd Lane at Rs 1,100 per sq.ft, Madurai Pillai Street at Rs 1,400 per sq.ft, and others with varying values up to Rs 2,700 per sq.ft.

What is the registration fee for property in Madurai Pillai 1st Lane?

The registration fee for property in Madurai Pillai 1st Lane is calculated based on the guideline value. For example, for a 1,000 sq.ft plot at Rs 1,100 per sq.ft, the total registration fee would be Rs 99,000.

Which office handles registrations for Madurai Pillai 1st Lane?

The Sembiam Sub Registrar Office handles registrations for Madurai Pillai 1st Lane, located at 5, Papermills Road, Sembiam, Chennai - 600011.