Guideline Value for Media Quarters

Media Quarters guideline value

The current guideline value of Media Quarters in Kanchivakkam village is Rs 400 per sq.ft, effective from 1 July 2024. This area falls under the Gooduvancheri SRO and is classified as Residential Class II Type - I.

How the guideline value of Media Quarters has changed

Over the years, the guideline value for Media Quarters has seen several revisions. The earliest recorded value in 2007 was Rs 50 per sq.ft, which increased significantly to Rs 400 per sq.ft in 2012. However, this value dropped to Rs 268 per sq.ft in 2017 before stabilizing at Rs 400 per sq.ft in both 2023 and the upcoming 2024 revision. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

From 2017 to 2023, there was a notable increase of 49%, while the jump from 2007 to 2012 was a remarkable 700%. Overall, from 2007 to 2024, the guideline value has increased by 700%. The consistent value of Rs 400 per sq.ft in the recent revisions indicates stability in this area.

Guideline values in Kanchivakkam

In Kanchivakkam, there are 23 streets under the Gooduvancheri SRO that carry a guideline value for 2024 ranging from Rs 400 to Rs 600 per sq.ft, with a median value of Rs 500 per sq.ft. The guideline value for Media Quarters is below this median.

• Metro Corporate Residency: Rs 600 per sq.ft (2024)
• Lotus Enclave: Rs 600 per sq.ft (2024)
• Kuberan Nagar: Rs 500 per sq.ft (2024)
• Kannan Nagar: Rs 600 per sq.ft (2024)
• Jayalakshmi Nagar Extention: Rs 600 per sq.ft (2024)
• Jayalakshmi Nagar: Rs 600 per sq.ft (2024)

Stamp duty and registration fee for property in Media Quarters

For a 1,000 sq.ft plot at the current rate of Rs 400 per sq.ft, the guideline value amounts to Rs 4,00,000. The stamp duty at 7% would be Rs 28,000, and the registration fee at 2% would be Rs 8,000, bringing the total to Rs 36,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Media Quarters?

The Media Quarters area is covered by the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor in the registration process of property transactions in Kanchivakkam. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps in assessing the fair value of the property, which is crucial for both buyers and sellers. It is advisable to refer to the latest guideline value to understand the financial implications of the transaction.

Frequently asked questions

What is the current guideline value of Media Quarters?

The current guideline value of Media Quarters is Rs 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 50 per sq.ft in 2007 to Rs 400 per sq.ft in 2012, then decreased to Rs 268 per sq.ft in 2017, and has remained at Rs 400 per sq.ft in 2023 and 2024.

What is the land classification of Media Quarters?

Media Quarters is classified as Residential Class II Type - I, indicating its suitability for residential development.

What are the stamp duty rates for properties in Media Quarters?

The stamp duty for properties in Media Quarters is 7% of the guideline value, while the registration fee is 2% of the guideline value.

Where is the Gooduvancheri Sub Registrar Office located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone.