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Guideline Value

Corporate

Guideline Value for Majestic Colony Main Road ( Ward No.24 )

₹1300/sq.ft.

The guideline value for Majestic Colony Main Road ( Ward No.24 ) in Madhavaram village (Madhavaram SRO, Chennai zone) is Rs 1300 per sq.ft, effective 1 July 2024. It was Rs 1200 per sq.ft from 1 April 2023, a 8% change. 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 ₹1200 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹804 /sq.ft.
From 1-4-2012 To 8-6-2017 N/A
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 Main Road ( Ward No.24 )

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Majestic Colony Main Road ( Ward No.24 ) guideline value

The current guideline value of Majestic Colony Main Road ( Ward No.24 ) is Rs 1,300 per sq.ft, effective from 1 July 2024. This road 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 Main Road ( Ward No.24 ) has changed

The guideline value for Majestic Colony Main Road has seen several revisions over the years. The 2017 revision set the value at Rs 804 per sq.ft, which increased to Rs 1,200 per sq.ft in 2023, marking a significant rise of 49%. The most recent 2024 revision has further increased the guideline value to Rs 1,300 per sq.ft, an 8% increase from the previous year.

Overall, from the 2017 revision to the current 2024 revision, the guideline value has increased by 62%. It is important to note that for the years 2002, 2003, 2007, and 2012, the register has no figure for this street.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO carrying a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median value for these streets is Rs 1,600 per sq.ft, making the guideline value of Majestic Colony Main Road below the median.

Stamp duty and registration fee for property in Majestic Colony Main Road ( 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 would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total cost for these fees to Rs 1,17,000. 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 Majestic Colony Main Road ( Ward No.24 )?

The Sub Registrar Office that covers Majestic Colony Main Road ( 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 details.

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

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

When you register a property, the guideline value or the sale price is taken into account, and the higher of the two is used to calculate the applicable fees. This ensures that the transaction is recorded accurately and in compliance with local regulations.

Frequently asked questions

What is the current guideline value of Majestic Colony Main Road?

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

How much has the guideline value changed since 2017?

Since 2017, the guideline value has increased from Rs 804 per sq.ft to Rs 1,300 per sq.ft in 2024, marking an overall increase of 62%.

What is the registration office for Majestic Colony Main Road?

The registration office for Majestic Colony Main Road ( Ward No.24 ) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions is charged at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.

Are there other streets with the same guideline value in Madhavaram?

Yes, there are several other streets in Madhavaram that have the same guideline value of Rs 1,300 per sq.ft in 2024, including Majestic Colony, Ponniammanmedu, and Majestic Colony F Block Main Road.