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Guideline Value

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Guideline Value for Prakash Nagar 3rd Main Road (Ward 23)

₹2700/sq.ft.

The guideline value for Prakash Nagar 3rd Main Road (ward 23) in Madhavaram village (Madhavaram SRO, Chennai zone) is Rs 2700 per sq.ft, effective 1 July 2024. 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 N/A
From 9-6-2017 To 31-3-2023 ₹1675 /sq.ft.
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 3rd Main Road (ward 23)

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Prakash Nagar 3rd Main Road (Ward 23) guideline value

The current guideline value of Prakash Nagar 3rd Main Road (Ward 23) is Rs 2,700 per sq.ft, effective from 1 July 2024. This road is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Special Type - I.

How the guideline value of Prakash Nagar 3rd Main Road (Ward 23) has changed

In the 2012 revision, the guideline value was Rs 2,500 per sq.ft. This figure decreased to Rs 1,675 per sq.ft in the 2017 revision, marking a reduction of 33%. However, the latest revision in 2024 shows a significant increase to Rs 2,700 per sq.ft, which represents a 61% rise from the 2017 figure.

Overall, from the 2012 revision to the 2024 revision, 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 2023 for this street.

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. The median guideline value for these streets is Rs 1,600 per sq.ft, making the current value of Rs 2,700 per sq.ft for Prakash Nagar 3rd Main Road (Ward 23) above the median.

Stamp duty and registration fee for property in Prakash Nagar 3rd 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, bringing the total fees to Rs 2,43,000. It is important to note that 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 assistance.

Which Sub Registrar Office covers Prakash Nagar 3rd Main Road (Ward 23)?

The Madhavaram Sub Registrar Office covers Prakash Nagar 3rd Main Road (Ward 23). The office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for further details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Madhavaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the authorities will refer to the guideline value to assess the applicable duties. This ensures that the fees are calculated based on a standardized value, helping to maintain transparency in property transactions.

Frequently asked questions

What is the current guideline value of Prakash Nagar 3rd Main Road (Ward 23)?

The current guideline value of Prakash Nagar 3rd 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?

The guideline value has seen several changes, starting from Rs 2,500 per sq.ft in 2012, dropping to Rs 1,675 per sq.ft in 2017, and then rising to Rs 2,700 per sq.ft in 2024.

What is the land classification for Prakash Nagar 3rd Main Road (Ward 23)?

The land classification for Prakash Nagar 3rd Main Road (Ward 23) is Residential Special Type - I, which indicates its designated use for residential purposes.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 and the registration fee would be Rs 54,000, totaling Rs 2,43,000. These fees are based on the guideline value or the sale price, whichever is higher.

Where is the Madhavaram Sub Registrar Office located?

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.