Guideline Value for Madurai veeran Street

Madurai veeran Street guideline value

The current guideline value of Madurai veeran Street is Rs 1,800 per sq.ft, effective from 1 July 2024. This street is located in Oragadam village under the Ambattur SRO, classified as Residential Class I Type - II.

How the guideline value of Madurai veeran Street has changed

The guideline value for Madurai veeran Street has undergone several revisions over the years. Starting from the 2002 revision, the value was Rs 135 per sq.ft. This increased to Rs 146 per sq.ft in the 2003 revision, marking a change of +8%. The 2007 revision saw a significant rise to Rs 400 per sq.ft, reflecting an increase of +174%. In the 2012 revision, the value was Rs 1,700 per sq.ft, which was a decrease of -33% from the previous revision.

Moving to the 2017 revision, the guideline value rose to Rs 1,139 per sq.ft, showing an increase of +49% from 2012. The 2023 revision recorded a value of Rs 1,700 per sq.ft, which remained unchanged from the previous revision. Finally, the current 2024 revision has set the guideline value at Rs 1,800 per sq.ft, an increase of +6% from 2023. There are no figures available for any other years in the register for this street.

Guideline values in Oragadam

In Oragadam, there are 596 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 3,500 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value of Madurai veeran Street is below this median.

• Mahalakshmi Street: Rs 2,200 per sq.ft (2024)
• Mahalalakshmi Street(banu nagar west): Rs 2,200 per sq.ft (2024)
• Maharaja Avenue (V.L.Puram): Rs 2,400 per sq.ft (2024)
• Levenabeer Street (S.V.Nagar): Rs 1,900 per sq.ft (2024)
• Mahesh Street: Rs 1,600 per sq.ft (2024)
• Lard Baba Street: Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Madurai veeran Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,800 per sq.ft, the total guideline value would be Rs 18,00,000. The stamp duty at 7% would amount to Rs 1,26,000, and the registration fee at 2% would be Rs 36,000, bringing the total fees to Rs 1,62,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Madurai veeran Street?

The Sub Registrar Office that covers Madurai veeran Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur- 600 053, Chennai registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in property transactions in Oragadam. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property. The guideline value is set by the government and is updated periodically to reflect changes in the real estate market.

When a property is registered, the stamp duty is calculated based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions, regardless of the actual sale price.

Frequently asked questions

What is the current guideline value of Madurai veeran Street?

The current guideline value of Madurai veeran Street is Rs 1,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 135 in 2002 to Rs 1,800 in 2024, showing an overall increase of +1233% over the years.

What are the stamp duty and registration fees for property on Madurai veeran Street?

For a 1,000 sq.ft plot, the stamp duty would be Rs 1,26,000 and the registration fee would be Rs 36,000, totaling Rs 1,62,000 based on the current guideline value.

Where is the Ambattur Sub Registrar Office located?

The Ambattur Sub Registrar Office is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur- 600 053, Chennai registration zone.

How is the guideline value determined?

The guideline value is determined by the government and is updated periodically to reflect changes in the real estate market. It is used to calculate stamp duty and registration fees during property transactions.