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Guideline Value

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Guideline Value for Prakash Nagar 1st Main Road (Ward 23)

₹2700/sq.ft.

The guideline value for Prakash Nagar 1st Main Road (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 Main Road (ward 23)

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Prakash Nagar 1st Main Road (Ward 23) guideline value

The current guideline value of Prakash Nagar 1st Main Road (Ward 23) is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village and falls under the Madhavaram SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Prakash Nagar 1st Main Road (Ward 23) has changed

Looking at the revisions, the guideline value for Prakash Nagar 1st Main Road (Ward 23) was Rs 2,500 per sq.ft in the 2012 revision. This figure remained unchanged until the 2023 revision, where it was again Rs 2,500 per sq.ft. However, in the 2024 revision, the guideline value increased to Rs 2,700 per sq.ft, marking an 8% rise from the previous year.

Overall, from 2012 to 2024, the guideline value has increased by 8%. It is important to note that the register does not contain figures for the years 2002, 2003, 2007, and 2017 for this street.

Guideline values in Madhavaram

In Madhavaram, there are a total of 1,946 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft as of 2024. The median guideline value for these streets is Rs 1,600 per sq.ft, placing the 2024 figure for Prakash Nagar 1st Main Road (Ward 23) above this median.

Stamp duty and registration fee for property in Prakash Nagar 1st Main Road (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 amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, together totaling Rs 2,43,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Prakash Nagar 1st Main Road (Ward 23)?

The Sub Registrar Office that covers Prakash Nagar 1st Main Road (Ward 23) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. For more information, you can find your SRO.

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

The guideline value is an essential factor when registering property transactions in Madhavaram. It is used to determine the stamp duty and registration fees that are payable during the sale or purchase of property.

When a property is sold, the buyer must pay the stamp duty based on the higher value between the guideline value and the actual sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Prakash Nagar 1st Main Road (Ward 23)?

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

How has the guideline value changed over the years?

From the 2012 revision to the 2023 revision, the guideline value remained at Rs 2,500 per sq.ft. In the 2024 revision, it increased to Rs 2,700 per sq.ft, which is an 8% rise from the previous year.

What is the land classification for Prakash Nagar 1st Main Road (Ward 23)?

The land classification for Prakash Nagar 1st Main Road (Ward 23) is Residential Special Type - I.

Which office handles property registrations for this area?

The Madhavaram Sub Registrar Office handles property registrations for Prakash Nagar 1st Main Road (Ward 23). It is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is the stamp duty calculated for properties in Madhavaram?

Stamp duty in Madhavaram is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 27,00,000, the stamp duty would be calculated at 7% of that amount.