Guideline Value for Secretariat Colony 19th Cross St ( Ward No.29 )

Secretariat Colony 19th Cross St ( Ward No.29 ) guideline value

The current guideline value for Secretariat Colony 19th Cross St ( Ward No.29 ) is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village under the Madhavaram SRO and falls under the Residential Class I Type - I land classification.

How the guideline value of Secretariat Colony 19th Cross St ( Ward No.29 ) has changed

The guideline value for Secretariat Colony 19th Cross St has seen several revisions over the years. In 2012, the guideline value was Rs 2,000 per sq.ft, which then decreased to Rs 1,340 per sq.ft in 2017. Following this, the value increased significantly to Rs 2,000 per sq.ft in 2023, and currently stands at Rs 2,200 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value rose by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. 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 guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft as of 2024. The median guideline value in this area is Rs 1,600 per sq.ft, placing the 2024 figure for Secretariat Colony 19th Cross St above that median.

• Secretariat Colony 18th Street (Ward 29): Rs 2,200 per sq.ft (2024)
• Secretariat Colony 18th Cross St ( Ward No.29 ): Rs 2,200 per sq.ft (2024)
• Secretariat Colony 1st Cross St ( Ward No.29 ): Rs 2,200 per sq.ft (2024)
• Secretariat Colony 17th Street (Ward 29): Rs 2,200 per sq.ft (2024)
• Secretariat Colony 17th Cross St ( Ward No.29 ): Rs 2,200 per sq.ft (2024)
• Secretariat Colony 16th Street (Ward 29): Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Secretariat Colony 19th Cross St ( Ward No.29 )

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

Which Sub Registrar Office covers Secretariat Colony 19th Cross St ( Ward No.29 )?

The Sub Registrar Office that covers Secretariat Colony 19th Cross St ( Ward No.29 ) 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 important factor when buying or selling property in Madhavaram. It is used to determine the stamp duty and registration fees payable at the time of property registration. Buyers should be aware that these fees are calculated based on the higher of the guideline value or the sale price of the property.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value as determined by the government. This helps in maintaining transparency in property transactions and ensures that all parties are aware of the financial obligations involved in the sale.

Frequently asked questions

What is the current guideline value for Secretariat Colony 19th Cross St?

The current guideline value for Secretariat Colony 19th Cross St ( Ward No.29 ) 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 changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then increased to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for this street?

Secretariat Colony 19th Cross St ( Ward No.29 ) falls under the Residential Class I Type - I land classification.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Secretariat Colony 19th Cross St is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at the current rate would incur a total stamp duty and registration fee of Rs 1,98,000.