Guideline Value for Secretariat Colony 18th Street (Ward 29)

Secretariat Colony 18th Street (Ward 29) guideline value

The current guideline value for Secretariat Colony 18th Street (Ward 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 is classified as Residential Class I Type - I.

How the guideline value of Secretariat Colony 18th Street (Ward 29) has changed

Over the years, the guideline value for Secretariat Colony 18th Street has seen several revisions. The earliest recorded revision was in 2012, where the guideline value was Rs 2,000 per sq.ft. This was followed by a decrease to Rs 1,340 per sq.ft in 2017. In 2023, the value increased again to Rs 2,000 per sq.ft, and as of the latest revision in 2024, it stands at Rs 2,200 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, the guideline value decreased by 33%. However, it increased by 49% from 2017 to 2023, and then rose by 10% from 2023 to 2024. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft, with a median value of Rs 1,600 per sq.ft. The guideline value for Secretariat Colony 18th Street (Ward 29) is above this median.

• Secretariat Colony 18th Cross St (Ward No.29): Rs 2,200 per sq.ft (2024)
• Secretariat Colony 19th 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 1st 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 18th Street (Ward 29)

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 higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Secretariat Colony 18th Street (Ward 29)?

The Sub Registrar Office that covers Secretariat Colony 18th Street (Ward 29) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for additional assistance.

How the guideline value is used when you buy or sell in Madhavaram

The guideline value is a critical factor in the registration process for 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 appropriate revenue from property transactions.

When buying or selling property, the guideline value will influence the stamp duty and registration fees, which are calculated based on this value or the sale price, whichever is higher. This ensures that all transactions are recorded accurately and transparently.

Frequently asked questions

What is the current guideline value of Secretariat Colony 18th Street (Ward 29)?

The current guideline value of Secretariat Colony 18th Street (Ward 29) is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years for this street?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then 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 Secretariat Colony 18th Street (Ward 29)?

The land classification for Secretariat Colony 18th Street (Ward 29) is Residential Class I Type - I.

Which Sub Registrar Office covers this area?

The Madhavaram Sub Registrar Office covers Secretariat Colony 18th Street (Ward 29), located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How are stamp duty and registration fees calculated for properties in this area?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a plot of 1,000 sq.ft at the current guideline value, the total fees would amount to Rs 1,98,000.