Guideline Value for Maduraisamy Madam 1st Street

Maduraisamy Madam 1st Street guideline value

The current guideline value of Maduraisamy Madam 1st Street is Rs 3,500 per sq.ft, effective from 1 July 2024. This street is located in Sembiam village and falls under the Sembiam SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of Maduraisamy Madam 1st Street has changed

Over the years, the guideline value of Maduraisamy Madam 1st Street has seen significant changes. In the 2007 revision, the guideline value was Rs 900 per sq.ft. This increased to Rs 3,200 per sq.ft in 2012, marking a substantial rise of 256%. However, it then decreased to Rs 2,144 per sq.ft in 2017, reflecting a decline of 33%. The value further increased to Rs 3,200 per sq.ft in 2023, and finally to Rs 3,500 per sq.ft in 2024, which is a 9% increase from the previous year.

From 2017 to 2023, the value rose by 49%. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 289%. It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street.

Guideline values in Sembiam

In Sembiam, there are 250 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 7,100 per sq.ft. The median guideline value for these streets is Rs 2,700 per sq.ft, placing Maduraisamy Madam 1st Street's 2024 figure above this median.

• Maduraisamy Madam 2nd Street: Rs 3,500 per sq.ft (2024)
• Maduraisamy Madam 3rd Street: Rs 3,500 per sq.ft (2024)
• Maduraisamy Madam East Street: Rs 3,500 per sq.ft (2024)
• Maduraisamy Madam V.O.C. Nagar: Rs 3,500 per sq.ft (2024)
• Maduraisamy Main Road: Rs 3,500 per sq.ft (2024)
• Maduma Nagar: Rs 3,500 per sq.ft (2024)

Stamp duty and registration fee for property in Maduraisamy Madam 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,500 per sq.ft, the total guideline value would be Rs 35,00,000. The stamp duty at 7% would amount to Rs 2,45,000, and the registration fee at 2% would be Rs 70,000, bringing the total fees together to Rs 3,15,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can also use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Maduraisamy Madam 1st Street?

The Sub Registrar Office covering Maduraisamy Madam 1st Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Sembiam, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees that are payable at the time of registration.

When registering a property, the guideline value ensures that the transaction is documented at a value that reflects the current market conditions, thereby safeguarding the interests of both buyers and sellers. It is essential for all parties involved in a property transaction to be aware of the applicable guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Maduraisamy Madam 1st Street?

The current guideline value of Maduraisamy Madam 1st Street is Rs 3,500 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly over the years, from Rs 900 per sq.ft in 2007 to Rs 3,500 per sq.ft in 2024, reflecting an overall increase of 289%.

What is the land classification for Maduraisamy Madam 1st Street?

The land classification for Maduraisamy Madam 1st Street is Residential Special Type - II.

What are the stamp duty and registration fees for properties in this area?

For a property valued at the current guideline value of Rs 35,00,000, the stamp duty would be Rs 2,45,000 and the registration fee would be Rs 70,000, totaling Rs 3,15,000.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office for Maduraisamy Madam 1st Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011.