Guideline Value for Sanjay Nagar Extension

Sanjay Nagar Extension guideline value

The current guideline value for Sanjay Nagar Extension, located in Madhavaram village under the Madhavaram SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Sanjay Nagar Extension has changed

The guideline value for Sanjay Nagar Extension has undergone several revisions over the years. The oldest recorded revision is from 2012, where the guideline value was Rs 1,500 per sq.ft. This figure increased to Rs 2,000 per sq.ft in the 2023 revision, representing a 33% increase. The most recent revision in 2024 set the value at Rs 2,200 per sq.ft, marking a 10% increase from the previous year.

It is important to note that there are no recorded figures for the years 2002, 2003, 2007, and 2017 for this street. Overall, from 2012 to 2024, the guideline value has increased by 47%.

Guideline values in Madhavaram

The guideline values for properties in Madhavaram vary significantly, with 1946 streets under the Madhavaram SRO carrying a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median value is Rs 1,600 per sq.ft, placing Sanjay Nagar Extension's 2024 figure above this median.

• Sanjay Nagar, Ponniammanmedu (Ward-23): Rs 1,300 per sq.ft (2024)
• Sanjay Nagar: Rs 2,200 per sq.ft (2024)
• Sankaralingam st (Ward No.25): Rs 1,300 per sq.ft (2024)
• Sankar Nagar: Rs 2,200 per sq.ft (2024)
• Sankar Nagar, Lakshmipuram (Ward-26): Rs 1,300 per sq.ft (2024)
• Samy Nagar, Ponniammanmedu (Ward-24): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Sanjay Nagar Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sanjay Nagar Extension?

The Sanjay Nagar Extension falls under 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

When buying or selling property in Madhavaram, the guideline value serves as a benchmark for determining the stamp duty and registration fees. It is essential to understand that these fees are calculated based on the higher of the guideline value or the sale price of the property.

This means that if the sale price exceeds the guideline value, the stamp duty and registration fees will be based on the sale price. Therefore, it is crucial for buyers and sellers to be aware of the current guideline value to accurately estimate the costs involved in the transaction.

Frequently asked questions

What is the current guideline value for Sanjay Nagar Extension?

The current guideline value for Sanjay Nagar Extension is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,500 per sq.ft in 2012 to Rs 2,200 per sq.ft in 2024, marking a total increase of 47% over this period.

What are the stamp duty rates for properties in Sanjay Nagar Extension?

The stamp duty for properties in Sanjay Nagar Extension is charged at 7% of the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office covers Sanjay Nagar Extension?

The Madhavaram Sub Registrar Office covers Sanjay Nagar Extension, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

Where can I find more information about guideline values in Madhavaram?

For more information about guideline values in Madhavaram, you can refer to the Registration Department's guideline value register (TNReginet) or consult the local Sub Registrar Office.