Guideline Value for Sadananda Salai (Ward-01)

Sadananda Salai (Ward-01) guideline value

The current guideline value of Sadananda Salai (Ward-01) is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village under the Madhavaram SRO and is classified as Residential Class III Type - I.

How the guideline value of Sadananda Salai (Ward-01) has changed

Over the years, the guideline value for Sadananda Salai (Ward-01) has seen several revisions. The 2012 revision set the value at Rs 1,200 per sq.ft, which then decreased to Rs 804 per sq.ft in the 2017 revision. The 2023 revision increased the value to Rs 1,200 per sq.ft, and the most recent 2024 revision has raised it further to Rs 1,300 per sq.ft, reflecting an 8% increase from the previous year. There are no figures available for the revisions in 2002, 2003, and 2007 for this street.

In summary, from 2012 to 2024, the overall change in guideline value has been an increase of 8%. The most significant change occurred between 2017 and 2023, where the value increased by 49% from Rs 804 to Rs 1,200 per sq.ft.

Guideline values in Madhavaram

Madhavaram village has a total of 1,946 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median value for these streets is Rs 1,600 per sq.ft, making the guideline value for Sadananda Salai (Ward-01) below that median.

• Sadanandan Street (Ward No.1): Rs 1,300 per sq.ft (2024)
• Sadananda Salai (Ward-02): Rs 1,300 per sq.ft (2024)
• Sadantha Salai, Lakshmipuram (Ward-26): Rs 1,300 per sq.ft (2024)
• Sabir Avenue, Ponniammanmedu (Ward-21): Rs 1,300 per sq.ft (2024)
• Sadhanandan Road (Periya Sekkadu): Rs 1,300 per sq.ft (2024)
• R.R.Nagar: Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in Sadananda Salai (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 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, bringing the total to 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 detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sadananda Salai (Ward-01)?

The Sub Registrar Office that covers Sadananda Salai (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 in property transactions in Madhavaram, as it determines the minimum value at which a property can be registered. When buying or selling a property, the registration office uses this value to calculate applicable stamp duties and registration fees.

It is essential for buyers and sellers to be aware of the guideline value, as it affects the overall cost of the transaction. This value ensures that the property is registered at a fair price, reflecting the current market conditions.

Frequently asked questions

What is the current guideline value of Sadananda Salai (Ward-01)?

The current guideline value of Sadananda Salai (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 increased 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 Sadananda Salai (Ward-01)?

Sadananda Salai (Ward-01) is classified as Residential Class III Type - I, indicating its suitability for residential purposes.

Where is the Madhavaram Sub Registrar Office located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles registrations for properties in the area.

How is stamp duty calculated for properties in Sadananda Salai (Ward-01)?

Stamp duty is calculated at 7% of 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.