Guideline Value for S.M.B. Nagar (Ward-11)

S.M.B. Nagar (Ward-11) guideline value

The current guideline value of S.M.B. Nagar (Ward-11) is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village under the Madhavaram SRO, classified as Residential Class III Type - I.

How the guideline value of S.M.B. Nagar (Ward-11) has changed

In the 2017 revision, the guideline value was Rs 804 per sq.ft. This increased significantly to Rs 1,200 per sq.ft in the 2023 revision, marking a 49% rise. The latest revision in 2024 has further increased the guideline value to Rs 1,300 per sq.ft, reflecting an 8% increase from the previous year.

There are no figures available for the years 2002, 2003, 2007, and 2012 for this street. Overall, from 2017 to 2024, the guideline value has increased by 62%.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO with a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value in this area is Rs 1,600 per sq.ft, indicating that S.M.B. Nagar's 2024 figure is below the median.

• Sivasakthi Nagar (Ward-14): Rs 1,300 per sq.ft (2024)
• Sivasakthi Nagar 4th st (Ward No.14): Rs 1,300 per sq.ft (2024)
• Sivasakthi Nagar 4th Cross St (Ward 14): Rs 1,300 per sq.ft (2024)
• Sivasakthi Nagar 3rd st (Ward No.14): Rs 1,300 per sq.ft (2024)
• Soorapat Road (Ward-29): Rs 1,300 per sq.ft (2024)
• Sivasakthi Nagar 3rd Cross St (Ward 14): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in S.M.B. Nagar (Ward-11)

For a 1,000 sq.ft plot at the current rate of Rs 1,300 per sq.ft, the guideline value is Rs 13,00,000. The stamp duty at 7% amounts to Rs 91,000, and the registration fee at 2% is Rs 26,000, totaling Rs 1,17,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can calculate your fees using our stamp duty and registration fee calculator.

Which Sub Registrar Office covers S.M.B. Nagar (Ward-11)?

The Sub Registrar Office that covers S.M.B. Nagar (Ward-11) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Madhavaram. It is used to determine the stamp duty and registration fees applicable when buying or selling property in the area.

When a property transaction occurs, the guideline value is assessed, and the fees are calculated based on this value or the sale price, whichever is higher. This ensures that the registration process is transparent and standardized across the region.

Frequently asked questions

What is the current guideline value of S.M.B. Nagar (Ward-11)?

The current guideline value of S.M.B. Nagar (Ward-11) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions: it was Rs 804 per sq.ft in 2017, increased to Rs 1,200 per sq.ft in 2023, and is now Rs 1,300 per sq.ft in 2024.

What is the land classification for S.M.B. Nagar?

S.M.B. Nagar is classified as Residential Class III Type - I under the guideline value register.

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 in S.M.B. Nagar?

Stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. These fees are based on the higher of the guideline value or the sale price.