Guideline Value for Maduraisamy Madam 3rd Street

Maduraisamy Madam 3rd Street guideline value

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

How the guideline value of Maduraisamy Madam 3rd Street has changed

The guideline value for Maduraisamy Madam 3rd Street has undergone several revisions over the years. In 2007, the guideline 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. Following this, the value rose to Rs 3,200 per sq.ft in 2023, and the most recent revision in 2024 set it at Rs 3,500 per sq.ft.

From the 2017 revision to the 2023 revision, there was an increase of 49%. The 2023 to 2024 revision saw a further increase of 9%. Overall, from the 2007 revision to the 2024 revision, 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 guideline values ranging from Rs 1,700 to Rs 7,100 per sq.ft. The median guideline value in the area is Rs 2,700 per sq.ft, making the 2024 guideline value of Maduraisamy Madam 3rd Street above this median.

• Maduraisamy Madam 2nd Street: Rs 3,500 per sq.ft (2024)
• Maduraisamy Madam East Street: Rs 3,500 per sq.ft (2024)
• Maduraisamy Madam 1st 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 3rd Street

For a 1,000 sq.ft plot at the current rate of Rs 3,500 per sq.ft, the 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, totaling 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 3rd Street?

The Sub Registrar Office that covers Maduraisamy Madam 3rd 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 registering property transactions in Sembiam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the state receives the appropriate revenue from property sales.

When buying or selling property, the guideline value helps determine the minimum price at which a property can be registered, protecting both the buyer and seller in the transaction process. It is essential to be aware of the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Maduraisamy Madam 3rd Street?

The current guideline value of Maduraisamy Madam 3rd 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, reflecting an overall increase of 289% over this period.

What is the median guideline value in Sembiam?

The median guideline value in Sembiam is Rs 2,700 per sq.ft, with Maduraisamy Madam 3rd Street's 2024 value being above this median.

What are the stamp duty and registration fees for a property in Maduraisamy Madam 3rd Street?

For a property valued at 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 is the Sub Registrar Office for Maduraisamy Madam 3rd Street located?

The Sub Registrar Office for Maduraisamy Madam 3rd Street is located at 5, Papermills Road, Sembiam, Chennai - 600011.