Guideline Value for Maduraisamy Madam 2nd Street

Maduraisamy Madam 2nd Street guideline value

The current guideline value of Maduraisamy Madam 2nd Street is Rs 3,500 per sq.ft, effective from 1 July 2024. This street is located in Sembiam village, under the Sembiam SRO, and is classified as Residential Special Type - II.

How the guideline value of Maduraisamy Madam 2nd Street has changed

The guideline value for Maduraisamy Madam 2nd Street has undergone several revisions over the years. In 2007, the value was Rs 900 per sq.ft, which increased significantly to Rs 3,200 per sq.ft in 2012. However, it then decreased to Rs 2,144 per sq.ft in 2017. The value saw a substantial rise to Rs 3,200 per sq.ft in 2023, and the latest revision in 2024 set it at Rs 3,500 per sq.ft.

Between the revisions, there were notable changes. From 2007 to 2012, the value increased by 256%, but then it decreased by 33% from 2012 to 2017. The value rose by 49% from 2017 to 2023, and from 2023 to 2024, it increased by 9%. Overall, from 2007 to 2024, the guideline value has increased by 289%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Sembiam

In Sembiam, there are 250 streets under the Sembiam SRO with a 2024 guideline value ranging from Rs 1,700 to Rs 7,100 per sq.ft, with a median value of Rs 2,700 per sq.ft. The guideline value for Maduraisamy Madam 2nd Street is above this median, reflecting its current valuation.

• Maduraisamy Madam 1st 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 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,500 per sq.ft, the total guideline value amounts to Rs 35,00,000. The stamp duty at 7% would be Rs 2,45,000, and the registration fee at 2% would be Rs 70,000, making the total cost Rs 3,15,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Maduraisamy Madam 2nd Street?

The Sub Registrar Office that covers Maduraisamy Madam 2nd 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 during property transactions in Sembiam. It serves as a reference point for determining the stamp duty and registration fees that need to be paid when buying or selling property. The guideline value is used to ensure that the transaction is recorded accurately and complies with local regulations.

When a property is sold, the guideline value helps in assessing the minimum value at which the property can be registered. Buyers and sellers should be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Maduraisamy Madam 2nd Street?

The current guideline value of Maduraisamy Madam 2nd Street is Rs 3,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 900 per sq.ft in 2007 to Rs 3,500 per sq.ft in 2024, with various revisions in between, including a decrease in 2017 and an increase in 2023.

What is the land classification for Maduraisamy Madam 2nd Street?

Maduraisamy Madam 2nd Street is classified as Residential Special Type - II.

Where is the Sembiam Sub Registrar Office located?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is the stamp duty calculated for properties in Maduraisamy Madam 2nd Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, there is a registration fee of 2% on the guideline value.