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Guideline Value

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Guideline Value for Prakash Nagar 1st Cross Street (Ward 23)

₹2700/sq.ft.

The guideline value for Prakash Nagar 1st Cross Street (ward 23) in Madhavaram village (Madhavaram SRO, Chennai zone) is Rs 2700 per sq.ft, effective 1 July 2024. It was Rs 2500 per sq.ft from 1 April 2023, a 8% change. The land classification is Residential Special Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Madhavaram

Village

Madhavaram

SRO

Residential Special Type - I
History
Period Guideline Value
From 1-7-2024 ₹2700 /sq.ft.
From 1-4-2023 ₹2500 /sq.ft.
From 9-6-2017 To 31-3-2023 N/A
From 1-4-2012 To 8-6-2017 ₹2500 /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 Prakash Nagar 1st Cross Street (ward 23)

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Prakash Nagar 1st Cross Street (Ward 23) guideline value

The current guideline value of Prakash Nagar 1st Cross Street (Ward 23) is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Special Type - I.

How the guideline value of Prakash Nagar 1st Cross Street (Ward 23) has changed

The guideline value for Prakash Nagar 1st Cross Street has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 2,700 per sq.ft, which is an increase from the 2023 revision of Rs 2,500 per sq.ft. This marks an 8% increase from the previous year. Looking back further, the 2012 revision also recorded a value of Rs 2,500 per sq.ft, indicating no change from that year to 2023. 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 years 2002, 2003, 2007, and 2017 for Prakash Nagar 1st Cross Street in the register. Thus, the only revisions relevant to this street are from 2012, 2023, 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, with a median value of Rs 1,600 per sq.ft. The guideline value for Prakash Nagar 1st Cross Street is above this median.

Stamp duty and registration fee for property in Prakash Nagar 1st Cross Street (Ward 23)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, while the registration fee at 2% would be Rs 54,000. Together, the total cost for stamp duty and registration would be Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Prakash Nagar 1st Cross Street (Ward 23)?

The Sub Registrar Office that covers Prakash Nagar 1st Cross Street (Ward 23) 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 crucial factor when registering property in Madhavaram. It is used to determine the stamp duty and registration fees that must be paid during the transaction. Buyers and sellers should be aware that these fees are calculated based on the higher of the guideline value or the sale price.

When buying or selling property, it is essential to refer to the latest guideline value to ensure compliance with local regulations. This value reflects the government's assessment of property worth in the area and is updated periodically to reflect market conditions.

Frequently asked questions

What is the current guideline value of Prakash Nagar 1st Cross Street?

The current guideline value of Prakash Nagar 1st Cross Street (Ward 23) is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen an increase from Rs 2,500 per sq.ft in 2023 to Rs 2,700 per sq.ft in 2024, marking an 8% increase. From 2012 to 2023, the value remained at Rs 2,500 per sq.ft, resulting in an overall increase of 8% from 2012 to 2024.

What is the land classification for Prakash Nagar 1st Cross Street?

Prakash Nagar 1st Cross Street is classified as Residential Special Type - I. This classification is important for understanding the zoning and permissible uses of the land in this 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 the registration of properties in the area.

How is stamp duty calculated for properties in Prakash Nagar 1st Cross Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 1,89,000 at 7% of the guideline value.