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Guideline Value

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Guideline Value for Prakash Nagar 4th Cross Street Ward 23)

₹2700/sq.ft.

The guideline value for Prakash Nagar 4th Cross Street 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 4th Cross Street Ward 23)

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Prakash Nagar 4th Cross Street Ward 23) guideline value

The current guideline value for Prakash Nagar 4th Cross Street (Ward 23), Madhavaram village, is Rs 2,700 per sq.ft, effective from 1 July 2024. This area falls under the Madhavaram SRO and is classified as Residential Special Type - I.

How the guideline value of Prakash Nagar 4th Cross Street Ward 23) has changed

Over the years, the guideline value for Prakash Nagar 4th Cross Street has seen several revisions. The 2012 revision set the value at Rs 2,500 per sq.ft, which was then reduced to Rs 1,675 per sq.ft in the 2017 revision. However, the most recent revision in 2024 has increased the guideline value to Rs 2,700 per sq.ft, marking a significant increase of 61% from 2017 to 2024. Overall, from 2012 to 2024, the guideline value has seen a modest increase of 8%.

It is important to note that the register does not provide figures for the years 2023, 2007, 2003, and 2002 for this street. This lack of data highlights the fluctuations and changes that have occurred over the years.

Guideline values in Madhavaram

In Madhavaram, there are a total of 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 these streets is Rs 1,600 per sq.ft, placing the 2024 value of Prakash Nagar 4th Cross Street above the median.

Stamp duty and registration fee for property in Prakash Nagar 4th 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 amounts to Rs 27,00,000. The stamp duty, charged at 7%, would be Rs 1,89,000, while the registration fee at 2% would be Rs 54,000. Together, these fees total Rs 2,43,000. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Prakash Nagar 4th Cross Street Ward 23)?

The Sub Registrar Office that covers Prakash Nagar 4th 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 during property transactions in Madhavaram, as it serves as a baseline for determining the value of a property. When registering a property, the guideline value is used to calculate the applicable stamp duty and registration fees, ensuring that both the buyer and seller are aware of the financial obligations involved.

Understanding the guideline value helps buyers and sellers make informed decisions during property transactions. It is essential to be aware of the current guideline value to avoid any discrepancies during registration and to ensure compliance with the local regulations.

Frequently asked questions

What is the current guideline value for Prakash Nagar 4th Cross Street Ward 23)?

The current guideline value for Prakash Nagar 4th 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 changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, and then increased to Rs 2,700 per sq.ft in 2024. This represents a 61% increase from 2017 to 2024.

What is the land classification for Prakash Nagar 4th Cross Street Ward 23)?

Prakash Nagar 4th Cross Street (Ward 23) is classified as Residential Special Type - I.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is stamp duty calculated for properties in Prakash Nagar 4th Cross Street Ward 23)?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 at 7%.