Guideline Value for Maduraisamy Madam V.O.C. Nagar

Maduraisamy Madam V.O.C. Nagar guideline value

The current guideline value for Maduraisamy Madam V.O.C. Nagar is Rs 3,500 per sq.ft, effective from 1 July 2024. This area is located in Sembiam village, under the Sembiam SRO, and is classified as Residential Special Type - II.

How the guideline value of Maduraisamy Madam V.O.C. Nagar has changed

The guideline value for this street has seen several revisions over the years. Starting with the 2002 revision, the value was Rs 511 per sq.ft. This increased to Rs 554 per sq.ft in 2003, marking a rise of 8%. The value then jumped significantly to Rs 900 per sq.ft in 2007, reflecting a 62% increase. The next revision in 2012 saw a decrease to Rs 3,200 per sq.ft, which was a decline of 256%. However, the value rebounded to Rs 2,144 per sq.ft in 2017, showing a 33% increase. The 2023 revision set the value at Rs 3,200 per sq.ft, and the most recent revision in 2024 raised it to Rs 3,500 per sq.ft, an increase of 9%.

Overall, from 2002 to 2024, the guideline value has increased by 585%. There are no figures for any revisions other than those mentioned for this street.

Guideline values in Sembiam

In Sembiam village, 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. The median value is Rs 2,700 per sq.ft, placing the guideline value of Maduraisamy Madam V.O.C. Nagar above this median.

• Maduraisamy Madam East Street: Rs 3,500 per sq.ft (2024)
• Maduraisamy Main Road: Rs 3,500 per sq.ft (2024)
• Maduraisamy Madam 3rd Street: Rs 3,500 per sq.ft (2024)
• Maduraisamy Madam 2nd Street: Rs 3,500 per sq.ft (2024)
• Maduraisamy Madam 1st Street: 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 V.O.C. Nagar

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 fees together Rs 3,15,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Maduraisamy Madam V.O.C. Nagar?

The Sub Registrar Office that covers Maduraisamy Madam V.O.C. Nagar is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for further assistance.

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

The guideline value is a key factor in the registration of property transactions in Sembiam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the legal and financial implications of the transaction. It is essential to consider this value when negotiating sale prices to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Maduraisamy Madam V.O.C. Nagar?

The current guideline value of Maduraisamy Madam V.O.C. Nagar 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 increased from Rs 511 per sq.ft in 2002 to Rs 3,500 per sq.ft in 2024, reflecting an overall increase of 585% over the years.

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

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.

Which Sub Registrar Office is responsible for Maduraisamy Madam V.O.C. Nagar?

The Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011, covers Maduraisamy Madam V.O.C. Nagar.

What is the land classification of Maduraisamy Madam V.O.C. Nagar?

Maduraisamy Madam V.O.C. Nagar is classified as Residential Special Type - II.