Guideline Value for Sadananda Salai (Ward-02)

Sadananda Salai (Ward-02) guideline value

The current guideline value of Sadananda Salai (Ward-02) 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-02) has changed

The guideline value for Sadananda Salai (Ward-02) has seen several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which was then reduced to Rs 804 per sq.ft in the 2017 revision. However, the value increased significantly to Rs 1,200 per sq.ft in the 2023 revision, and further rose to Rs 1,300 per sq.ft in the 2024 revision, marking an 8% increase from the previous year.

Looking at the changes between revisions, the value increased by 49% from 2017 to 2023, while it dropped by 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 8%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Madhavaram

In Madhavaram, there are 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 for these streets is Rs 1,600 per sq.ft, placing Sadananda Salai (Ward-02) below this median.

• Sadananda Salai (Ward-01): Rs 1,300 per sq.ft (2024)
• Sadantha Salai, Lakshmipuram (Ward-26): Rs 1,300 per sq.ft (2024)
• Sadanandan Street (Ward No.1): 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-02)

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, bringing the total charges to Rs 1,17,000. Please note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sadananda Salai (Ward-02)?

The Sub Registrar Office covering Sadananda Salai (Ward-02) 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 an essential factor in the registration process of property transactions in Madhavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps both parties understand the fair valuation of the property. It is crucial for buyers to be aware of the current guideline value to avoid overpaying, while sellers should consider it when setting their sale price to ensure compliance with registration requirements.

Frequently asked questions

What is the current guideline value of Sadananda Salai (Ward-02)?

The current guideline value of Sadananda Salai (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 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-02)?

Sadananda Salai (Ward-02) is classified as Residential Class III 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.

What are the stamp duty and registration fees for property in Sadananda Salai (Ward-02)?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot at the current rate, the total charges would be Rs 1,17,000.