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Guideline Value

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Guideline Value for Secretariat Colony Main Road (Ward No.29)

₹2200/sq.ft.

The guideline value for Secretariat Colony Main Road (ward No.29) in Madhavaram village (Madhavaram SRO, Chennai zone) is Rs 2200 per sq.ft, effective 1 July 2024. The land classification is Residential Class I Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Madhavaram

Village

Madhavaram

SRO

Residential Class I Type - I
History
Period Guideline Value
From 1-7-2024 ₹2200 /sq.ft.
From 1-4-2023 N/A
From 9-6-2017 To 31-3-2023 ₹1340 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹2000 /sq.ft.
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No.7, Roja Nagar,madhavaram, Chennai-600060
044-25530001
[email protected]

DRO (District Registrar Office)

Nsc Bose Road, Kuralagam First Floor, Esplaned Street, Chennai-108
044-25266212
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Secretariat Colony Main Road (ward No.29)

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Secretariat Colony Main Road (Ward No.29) guideline value

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

How the guideline value of Secretariat Colony Main Road (Ward No.29) has changed

The guideline value for Secretariat Colony Main Road has seen several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which was later revised down to Rs 1,340 per sq.ft in 2017. However, the most recent revision in 2024 has increased the guideline value to Rs 2,200 per sq.ft, marking a significant increase of 64% from the 2017 figure. Overall, from 2012 to 2024, there has been a 10% increase in the guideline value.

It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2023 for this street. The changes between the revisions indicate fluctuations in the guideline value, with the highest recorded being in the 2024 revision.

Guideline values in Madhavaram

Madhavaram 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 guideline value in this area is Rs 1,600 per sq.ft, placing the 2024 figure for Secretariat Colony Main Road above this median.

Stamp duty and registration fee for property in Secretariat Colony Main Road (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, while the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that the 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 Main Road (Ward No.29)?

The Sub Registrar Office that covers Secretariat Colony Main Road (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 details.

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

The guideline value is a crucial factor when buying or selling property in Madhavaram. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction. Buyers and sellers should be aware that the guideline value is used by the registration authorities to assess the value of the property being transacted.

At the time of registration, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Secretariat Colony Main Road (Ward No.29)?

The current guideline value for Secretariat Colony Main Road (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, and then increased to Rs 2,200 per sq.ft in 2024. This represents a 64% increase from 2017 to 2024.

What are the stamp duty and registration fees for property transactions in this area?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000. The duty is charged on the higher of the guideline value and the sale price.

Which Sub Registrar Office covers this area?

The Madhavaram Sub Registrar Office covers Secretariat Colony Main Road (Ward No.29). It is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What is the land classification for Secretariat Colony Main Road?

The land classification for Secretariat Colony Main Road (Ward No.29) is Residential Class I Type - I, indicating its suitability for residential development.