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Guideline Value

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Guideline Value for Prakash Nagar 4th Main Road (Ward 23)

₹2700/sq.ft.

The guideline value for Prakash Nagar 4th 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 4th Main Road (ward 23)

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Prakash Nagar 4th Main Road (Ward 23) guideline value

The current guideline value of Prakash Nagar 4th Main Road (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 4th Main Road (Ward 23) has changed

Over the years, the guideline value of Prakash Nagar 4th Main Road has seen various revisions. The 2012 revision set the value at Rs 2,500 per sq.ft, which then decreased to Rs 1,675 per sq.ft in the 2017 revision. However, the most recent 2024 revision has increased the value significantly to Rs 2,700 per sq.ft, marking a 61% increase from the 2017 figure. Overall, from 2012 to 2024, there has been an 8% increase in the guideline value.

It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2023 for this street in the register.

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 in the village is Rs 1,600 per sq.ft, placing the 2024 figure for Prakash Nagar 4th Main Road above this median.

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

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

Which Sub Registrar Office covers Prakash Nagar 4th Main Road (Ward 23)?

The Sub Registrar Office that covers Prakash Nagar 4th Main Road (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

When buying or selling property in Madhavaram, the guideline value plays a crucial role in determining the registration fees and stamp duty. The guideline value is the minimum value set by the government for property transactions, ensuring that the property is registered at a fair value.

During the registration process, buyers and sellers must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Prakash Nagar 4th Main Road (Ward 23)?

The current guideline value of Prakash Nagar 4th 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 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. Overall, there has been an 8% increase from 2012 to 2024.

What is the land classification of Prakash Nagar 4th Main Road?

Prakash Nagar 4th Main Road is classified as Residential Special Type - I under the Madhavaram SRO.

What are the stamp duty and registration fees for property 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 Sub Registrar Office located for this area?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles registrations for properties in Prakash Nagar 4th Main Road (Ward 23).