Guideline Value for Maduvankarai Narasingapuram 3rd Cross Street

Maduvankarai Narasingapuram 3rd Cross Street guideline value

The current guideline value for Maduvankarai Narasingapuram 3rd Cross Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Velachery village under the Velacheri SRO and is classified as Residential Class II Type - II.

How the guideline value of Maduvankarai Narasingapuram 3rd Cross Street has changed

The guideline value for this street has undergone several revisions over the years. The oldest recorded revision is from 2012, where the value was Rs 4,000 per sq.ft. This was followed by a decrease in 2017, where the value dropped to Rs 2,680 per sq.ft, reflecting a decline of 33%. The most recent revision in 2024 sees the value rise significantly to Rs 4,400 per sq.ft, marking an increase of 64% from the 2017 figure.

Overall, from 2012 to 2024, the guideline value has seen a slight increase of 10%. It is important to note that there are no recorded figures for the years 2002, 2003, 2007, and 2023 for this street.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median value is Rs 4,400 per sq.ft, which is the same as the current guideline value for Maduvankarai Narasingapuram 3rd Cross Street.

• Maduvankarai Narasingapuram 2nd Street: Rs 4,400 per sq.ft (2024)
• Maduvankarai Narasingapuram 3rd Street: Rs 4,400 per sq.ft (2024)
• Maduvankarai Narasingapuram 2nd Cross Street: Rs 4,400 per sq.ft (2024)
• Maduvankarai Narasingapuram 4th Street: Rs 4,400 per sq.ft (2024)
• Maduvankarai Narasingapuram 1st Street: Rs 4,400 per sq.ft (2024)
• Maduvankarai Narasingapuram 5th Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Maduvankarai Narasingapuram 3rd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. It is important to note that 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 detailed calculations.

Which Sub Registrar Office covers Maduvankarai Narasingapuram 3rd Cross Street?

The Maduvankarai Narasingapuram 3rd Cross Street falls under the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in the registration process for property transactions in Velachery. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is registered, the guideline value is used to calculate the applicable fees, ensuring that all transactions are conducted fairly and transparently. Buyers and sellers should be aware of the guideline value to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value for Maduvankarai Narasingapuram 3rd Cross Street?

The current guideline value for Maduvankarai Narasingapuram 3rd Cross Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,000 per sq.ft in 2012 to Rs 2,680 per sq.ft in 2017, and then increased to Rs 4,400 per sq.ft in 2024. There are no recorded figures for the years 2002, 2003, 2007, and 2023 for this street.

What is the land classification of Maduvankarai Narasingapuram 3rd Cross Street?

The land classification for Maduvankarai Narasingapuram 3rd Cross Street is Residential Class II Type - II.

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

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000. Duty is charged on the higher of the guideline value or the sale price.

Where is the Sub Registrar Office for Maduvankarai Narasingapuram 3rd Cross Street located?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.