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Guideline Value

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Guideline Value for Prakash Nagar 7th Cross Street (Ward 23)

₹2700/sq.ft.

The guideline value for Prakash Nagar 7th 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 ₹1675 /sq.ft.
From 1-4-2012 To 8-6-2017 N/A
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 7th Cross Street (ward 23)

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Prakash Nagar 7th Cross Street (Ward 23) guideline value

The current guideline value of Prakash Nagar 7th 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 7th Cross Street (Ward 23) has changed

The guideline value for Prakash Nagar 7th Cross Street has seen several revisions over the years. The earliest recorded figure is from 2017, where the value was Rs 1,675 per sq.ft. In 2023, this value increased to Rs 2,500 per sq.ft, marking a significant rise of 49%. The most recent revision in 2024 set the guideline value at Rs 2,700 per sq.ft, which is an increase of 8% from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 61%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street in the register.

Guideline values in Madhavaram

In Madhavaram, there are 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 value across these streets is Rs 1,600 per sq.ft, placing Prakash Nagar 7th Cross Street's 2024 figure above this median.

Stamp duty and registration fee for property in Prakash Nagar 7th 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 these fees would be 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 on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Prakash Nagar 7th Cross Street (Ward 23)?

The Prakash Nagar 7th Cross Street (Ward 23) falls under 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 plays a crucial role in the registration process of property transactions in Madhavaram. It is used to determine the stamp duty and registration fees payable when buying or selling property, ensuring that the fees are based on a standardized value set by the government.

When a property is sold, the buyer and seller must refer to the guideline value to ascertain the applicable fees. This value is essential for both parties to understand their financial obligations during the transaction process.

Frequently asked questions

What is the current guideline value of Prakash Nagar 7th Cross Street?

The current guideline value of Prakash Nagar 7th Cross Street (Ward 23) is Rs 2,700 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2017, the guideline value has increased from Rs 1,675 per sq.ft to Rs 2,700 per sq.ft in 2024, marking an overall increase of 61%.

What is the land classification for Prakash Nagar 7th Cross Street?

Prakash Nagar 7th Cross Street 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 are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate would incur a total fee of Rs 2,43,000.