Guideline Value for North Telephone Colony

North Telephone Colony guideline value

The current guideline value for North Telephone Colony, located in Madhavaram village under the Madhavaram SRO, is Rs 1,600 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - I.

How the guideline value of North Telephone Colony has changed

In the 2012 revision, the guideline value was set at Rs 1,500 per sq.ft. This figure remained unchanged until the 2023 revision, which also recorded Rs 1,500 per sq.ft. However, in the 2024 revision, the guideline value increased to Rs 1,600 per sq.ft, reflecting a change of +7% from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by +7%. The register has no figures for the years 2002, 2003, 2007, and 2017 for this street.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO, with the 2024 guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value for this area is Rs 1,600 per sq.ft, which is equal to the current figure for North Telephone Colony.

• NSC BOSE Nagar: Rs 1,300 per sq.ft (2024)
• NSC Boss Road (Ward-8): Rs 1,300 per sq.ft (2024)
• N S K Nagar (Ward-20): Rs 2,200 per sq.ft (2024)
• NSS Nagar: Rs 1,600 per sq.ft (2024)
• Nithya Garden Extension: Rs 2,200 per sq.ft (2024)
• New Telephone Colony: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in North Telephone Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty is charged at 7%, resulting in Rs 1,12,000, while the registration fee is charged at 2%, amounting to Rs 32,000. Together, the total fees would be Rs 1,44,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers North Telephone Colony?

The Sub Registrar Office that covers North Telephone 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 an important factor when registering property transactions in Madhavaram. It serves as a benchmark for determining the stamp duty and registration fees payable during the sale or purchase of property.

When a property is sold, the higher of the guideline value or the sale price is taken into account for calculating these fees. This ensures that the transaction is appropriately taxed based on the prevailing market conditions as reflected in the guideline value.

Frequently asked questions

What is the current guideline value for North Telephone Colony?

The current guideline value for North Telephone Colony is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for North Telephone Colony was Rs 1,500 per sq.ft in 2012 and remained the same until 2023. In 2024, it increased to Rs 1,600 per sq.ft, marking a 7% increase from the previous year.

What is the land classification for North Telephone Colony?

North Telephone Colony is classified as Residential Class II Type - I. This classification is important for understanding the type of development allowed in the area.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles all registration activities for the area.

How is stamp duty calculated for properties in North Telephone Colony?

Stamp duty for properties in North Telephone Colony is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000 at 7% of the guideline value.