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Guideline Value

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Guideline Value for Majestic Colony 2nd Cross st ( Ward No.24 )

₹1300/sq.ft.

The guideline value for Majestic Colony 2nd Cross St ( Ward No.24 ) in Madhavaram village (Madhavaram SRO, Chennai zone) is Rs 1300 per sq.ft, effective 1 July 2024. The land classification is Residential Class Iii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Madhavaram

Village

Madhavaram

SRO

Residential Class III Type - I
History
Period Guideline Value
From 1-7-2024 ₹1300 /sq.ft.
From 1-4-2023 N/A
From 9-6-2017 To 31-3-2023 ₹804 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹1200 /sq.ft.
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No.7, Roja Nagar,madhavaram, Chennai-600060
044-25530001
[email protected]

DRO (District Registrar Office)

Nsc Bose Road, Kuralagam First Floor, Esplaned Street, Chennai-108
044-25266212
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Majestic Colony 2nd Cross St ( Ward No.24 )

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Majestic Colony 2nd Cross st ( Ward No.24 ) guideline value

The current guideline value of Majestic Colony 2nd Cross st ( Ward No.24 ) is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class III Type - I.

How the guideline value of Majestic Colony 2nd Cross st ( Ward No.24 ) has changed

The guideline value for Majestic Colony 2nd Cross st has seen several revisions over the years. In 2012, the guideline value was Rs 1,200 per sq.ft, which decreased to Rs 804 per sq.ft in 2017. Following this, the value increased significantly to Rs 1,300 per sq.ft in the 2024 revision, marking a 62% increase from 2017. Overall, from 2012 to 2024, the guideline value has increased by 8%.

It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2023 for this street. The changes in guideline value reflect the revisions that have occurred in 2012, 2017, and 2024.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value for these streets is Rs 1,600 per sq.ft, placing the 2024 guideline value of Majestic Colony 2nd Cross st below this median.

Stamp duty and registration fee for property in Majestic Colony 2nd Cross st ( Ward No.24 )

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, resulting in a total of Rs 1,17,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Majestic Colony 2nd Cross st ( Ward No.24 )?

The Sub Registrar Office that covers Majestic Colony 2nd Cross st ( Ward No.24 ) 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 when buying or selling property in Madhavaram. It serves as a benchmark for determining the minimum value for registration purposes, ensuring that properties are registered at a fair value as determined by the government.

When a property transaction occurs, the guideline value is compared with the sale price, and the higher of the two is used to calculate applicable stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Majestic Colony 2nd Cross st?

The current guideline value of Majestic Colony 2nd Cross st ( Ward No.24 ) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, and then increased to Rs 1,300 per sq.ft in 2024. Overall, from 2012 to 2024, there has been an 8% increase.

What is the land classification of Majestic Colony 2nd Cross st?

Majestic Colony 2nd Cross st is classified as Residential Class III Type - I under the Madhavaram SRO.

Where can I find the registration office for this area?

The registration office for Majestic Colony 2nd Cross st is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is stamp duty calculated for properties in Madhavaram?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property with a guideline value of Rs 13,00,000, the stamp duty at 7% would amount to Rs 91,000.