Guideline Value for S.S. Nagar (Ward-01)

S.S. Nagar (Ward-01) guideline value

The current guideline value of S.S. Nagar (Ward-01) is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village and falls under the Madhavaram SRO. The land classification for this street is Residential Class III Type - I.

How the guideline value of S.S. Nagar (Ward-01) has changed

The guideline value for S.S. Nagar (Ward-01) has undergone several revisions over the years. In the 2012 revision, the guideline value was set at Rs 1,200 per sq.ft. This figure saw a decrease to Rs 804 per sq.ft in the 2017 revision, representing a decline of 33%. However, from 2017 to 2023, the value increased significantly by 49%, reaching Rs 1,200 per sq.ft. The most recent revision in 2024 has seen a further increase to Rs 1,300 per sq.ft, marking an 8% rise from the previous year.

It is important to note that there are no figures available for the revisions in the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 8%.

Guideline values in Madhavaram

In Madhavaram village, 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 this area is Rs 1,600 per sq.ft, indicating that the 2024 figure for S.S. Nagar (Ward-01) is below this median.

• S.S. Nagar (Ward-02): Rs 1,300 per sq.ft (2024)
• S.S. Vasan Street: Rs 1,300 per sq.ft (2024)
• S.S.V.Koil St (Ward No.8): Rs 1,300 per sq.ft (2024)
• S.S. Koil Street: Rs 1,300 per sq.ft (2024)
• Sri Vinayaga Nagar Extension: Rs 1,600 per sq.ft (2024)
• Sri Vinayaga Nagar: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in S.S. Nagar (Ward-01)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, totaling Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers S.S. Nagar (Ward-01)?

The Sub Registrar Office that covers S.S. Nagar (Ward-01) 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 when buying or selling property in Madhavaram. It serves as a benchmark for determining the value of the property during registration. Buyers and sellers must consider this value to ensure compliance with local regulations and to understand the financial implications of their transactions.

When registering a property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with property transactions. This ensures that the government receives the appropriate revenue from property sales.

Frequently asked questions

What is the current guideline value of S.S. Nagar (Ward-01)?

The current guideline value of S.S. Nagar (Ward-01) 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 changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then back to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,300 per sq.ft in 2024.

What is the median guideline value in Madhavaram?

The median guideline value in Madhavaram is Rs 1,600 per sq.ft, which is higher than the current value for S.S. Nagar (Ward-01).

What are the stamp duty and registration fees for properties in S.S. Nagar (Ward-01)?

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 and the registration fee would be Rs 26,000, totaling Rs 1,17,000.

Where can I find the Sub Registrar Office for S.S. Nagar (Ward-01)?

The Sub Registrar Office for S.S. Nagar (Ward-01) is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.