Guideline Value for S.S. Nagar (Ward-02)

S.S. Nagar (Ward-02) guideline value

The current guideline value for S.S. Nagar (Ward-02) is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class III Type - I.

How the guideline value of S.S. Nagar (Ward-02) has changed

The guideline value for S.S. Nagar (Ward-02) has undergone several revisions over the years. The oldest available figure is from the 2012 revision, which was Rs 1,200 per sq.ft. This was followed by a decrease to Rs 804 per sq.ft in the 2017 revision, marking a -33% change. In 2023, the guideline value increased to Rs 1,200 per sq.ft, and in the latest 2024 revision, it rose again to Rs 1,300 per sq.ft, reflecting an 8% increase from the previous year.

It is important to note that there are no figures available for 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

The Madhavaram village has a total of 1,946 streets under the Madhavaram SRO, with 2024 guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median value is Rs 1,600 per sq.ft, indicating that the 2024 guideline value for S.S. Nagar (Ward-02) is below this median.

• S.S. Nagar (Ward-01): 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-02)

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

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers S.S. Nagar (Ward-02)?

The S.S. Nagar (Ward-02) is covered by 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 in the registration process for property transactions in Madhavaram. It serves as the basis for calculating stamp duty and registration fees, which are mandatory when transferring property ownership.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, helping to maintain transparency in real estate dealings. This value is essential for both buyers and sellers to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value for S.S. Nagar (Ward-02)?

The current guideline value for S.S. Nagar (Ward-02) 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 land classification for S.S. Nagar (Ward-02)?

S.S. Nagar (Ward-02) is classified as Residential Class III Type - I.

Where can I find the registration office for S.S. Nagar (Ward-02)?

The registration office for S.S. Nagar (Ward-02) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is stamp duty calculated for properties in S.S. Nagar (Ward-02)?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 at a rate of 7%.