Guideline Value for Mahadi Colony

Mahadi Colony guideline value

The current guideline value of Mahadi Colony, located in Madhavaram village under the Madhavaram SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class I Type - I.

How the guideline value of Mahadi Colony has changed

Looking back at the revisions, the guideline value for Mahadi Colony was Rs 2,000 per sq.ft in the 2012 revision. This marks a 10% increase from the previous figure to the current value of Rs 2,200 per sq.ft in 2024. The register has no figures for the years 2023, 2017, 2007, 2003, and 2002 for this street.

The only recorded revisions for this street are from 2012 and 2024, showing a clear upward adjustment. The current guideline value is significantly above the median value of Rs 1,600 per sq.ft for streets in Madhavaram as of 2024.

Guideline values in Madhavaram

Madhavaram village has a total of 1,946 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft as of 2024. Mahadi Colony's guideline value of Rs 2,200 per sq.ft is above the median value for the area.

• Madura Mettupalayam Reddy St (Ward No.30): Rs 1,300 per sq.ft (2024)
• Madura Mettupalayam Reddy St East End (Ward No.30): Rs 1,300 per sq.ft (2024)
• Madura Mettupalayam M.G.R.Nagar 2nd St (Ward No.30): Rs 1,300 per sq.ft (2024)
• Madura Mettupalayam M.G.R.Nagar 1st St (Ward No.30): Rs 1,300 per sq.ft (2024)
• Madura Mettupalayam Main St, M.G.R.Nagar (Ward No.30): Rs 1,300 per sq.ft (2024)
• Maduramettupalayam Main Road (Ward No.30): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Mahadi Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Mahadi Colony?

The Sub Registrar Office that covers Mahadi Colony is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process for property transactions in Madhavaram. It determines the minimum value at which a property can be registered, ensuring that the transaction is documented accurately for tax purposes.

When you buy or sell property, the guideline value helps in calculating the stamp duty and registration fees, which are mandatory charges that need to be paid during the registration process. This ensures that all transactions are in compliance with the regulations set forth by the Registration Department.

Frequently asked questions

What is the current guideline value of Mahadi Colony?

The current guideline value of Mahadi Colony is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Mahadi Colony was Rs 2,000 per sq.ft in 2012, which increased to Rs 2,200 per sq.ft in 2024. There are no figures available for the years 2023, 2017, 2007, 2003, and 2002 for this street.

What is the land classification for Mahadi Colony?

Mahadi Colony is classified as Residential Class I Type - I, which indicates its intended use for residential purposes.

What are the stamp duty and registration fees for property in Mahadi Colony?

The stamp duty is charged at 7% of the guideline value, while the registration fee is charged at 2%. For a property valued at Rs 22,00,000, the total fees would be Rs 1,98,000.

Where is the Sub Registrar Office for Mahadi Colony located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles the registration of properties in Mahadi Colony.