Guideline Value for Madurakavi Alwar Theru

Madurakavi Alwar Theru guideline value

The current guideline value of Madurakavi Alwar Theru is Rs 2,310 per sq.ft, effective from 1 July 2024. This street is located in Perungalathur village under the Padappai SRO and is classified as Residential Class II Type - I.

How the guideline value of Madurakavi Alwar Theru has changed

In the 2012 revision, the guideline value was Rs 2,100 per sq.ft. This figure decreased to Rs 1,407 per sq.ft in the 2017 revision. Subsequently, the value rose significantly to Rs 2,100 per sq.ft in the 2023 revision, and most recently, it increased to Rs 2,310 per sq.ft in the 2024 revision. The register has no figures for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, it saw a substantial increase of 49%. The overall change from 2012 to 2024 reflects a 10% increase, bringing the current value in line with the median guideline value for the area.

Guideline values in Perungalathur

Perungalathur has a total of 411 streets under the Padappai SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 5,500 per sq.ft. The median value is Rs 2,310 per sq.ft, which is equal to the current guideline value of Madurakavi Alwar Theru.

• Magesh Nagar: Rs 2,310 per sq.ft (2024)
• Magesh Nagar Extn: Rs 2,310 per sq.ft (2024)
• Maha Kavi Alvar Street: Rs 1,980 per sq.ft (2024)
• Mahakavi Bharathi Nagar: Rs 2,970 per sq.ft (2024)
• Madan Street: Rs 1,650 per sq.ft (2024)
• Mahalaxmi Nagar: Rs 2,640 per sq.ft (2024)

Stamp duty and registration fee for property in Madurakavi Alwar Theru

For a 1,000 sq.ft plot at the current rate of Rs 2,310 per sq.ft, the guideline value amounts to Rs 23,10,000. The stamp duty is charged at 7%, which totals Rs 1,61,700, and the registration fee at 2% amounts to Rs 46,200. Together, these fees come to Rs 2,07,900. 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 information.

Which Sub Registrar Office covers Madurakavi Alwar Theru?

The Sub Registrar Office that covers Madurakavi Alwar Theru is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Perungalathur. It serves as a benchmark for determining the stamp duty and registration fees payable during the transaction.

When you register a property, the authorities will assess the guideline value to ensure that the transaction is documented accurately. This helps in maintaining transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Madurakavi Alwar Theru?

The current guideline value of Madurakavi Alwar Theru is Rs 2,310 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,100 per sq.ft in 2012 to Rs 1,407 per sq.ft in 2017, then increased to Rs 2,100 per sq.ft in 2023, and finally to Rs 2,310 per sq.ft in 2024.

What is the land classification for Madurakavi Alwar Theru?

Madurakavi Alwar Theru is classified as Residential Class II Type - I, which indicates its suitability for residential development.

What are the stamp duty and registration fees for a property in Madurakavi Alwar Theru?

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For example, for a property valued at Rs 23,10,000, the total fees would be Rs 2,07,900.

Which Sub Registrar Office handles registrations for Madurakavi Alwar Theru?

The Padappai Sub Registrar Office handles registrations for Madurakavi Alwar Theru, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.