Guideline Value for NEW TOWN LAYOUT

New Town Layout guideline value

The current guideline value for New Town Layout in Madyathur village is Rs 275 per sq.ft, effective from 1 July 2024. This property falls under the Thiruporur Sub Registrar Office (SRO) and is classified as Residential Special Type - I.

How the guideline value of New Town Layout has changed

The guideline value for New Town Layout has seen several revisions over the years. The 2012 revision set the value at Rs 250 per sq.ft, which was then reduced to Rs 167 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 250 per sq.ft in the 2023 revision, and currently stands at Rs 275 per sq.ft as per the 2024 revision. The register has no figures for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, it increased by 50%. The transition from 2023 to 2024 reflects a 10% increase, resulting in an overall increase of 10% from 2012 to 2024.

Guideline values in Madyathur

In Madyathur, there are 6 streets under the Thiruporur SRO that have a 2024 guideline value ranging from Rs 220 to Rs 1,000 per sq.ft, with a median value of Rs 638 per sq.ft. The guideline value for New Town Layout is below this median.

• Grand Enclave: Rs 220 per sq.ft (2024)
• Esairaja Residency: Rs 275 per sq.ft (2024)
• Doctors Green Grounds: Rs 1,000 per sq.ft (2024)
• New Town: Rs 1,000 per sq.ft (2024)
• Sri Sai Sundaram Nagar: Rs 1,000 per sq.ft (2024)

Stamp duty and registration fee for property in New Town Layout

For a 1,000 sq.ft plot at the current rate of Rs 275 per sq.ft, the guideline value amounts to Rs 2,75,000. The stamp duty, charged at 7%, would be Rs 19,250, and the registration fee at 2% would be Rs 5,500, totaling Rs 24,750. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers New Town Layout?

The New Town Layout is covered by the Thiruporur Sub Registrar Office, located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Madyathur. It serves as a reference point for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When you register a property, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value for New Town Layout?

The current guideline value for New Town Layout in Madyathur village is Rs 275 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2012 to Rs 167 per sq.ft in 2017, then increased to Rs 250 per sq.ft in 2023, and is now Rs 275 per sq.ft in 2024.

What is the land classification for New Town Layout?

The land classification for New Town Layout is Residential Special Type - I, indicating its intended use for residential purposes.

What are the stamp duty rates for property in New Town Layout?

The stamp duty rate for property in New Town Layout is 7% of the guideline value or sale price, whichever is higher. Additionally, there is a registration fee of 2%.

Which office handles the registration for New Town Layout?

The registration for New Town Layout is handled by the Thiruporur Sub Registrar Office, located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone.