Guideline Value for Service Road(Maduravayul ByPass)

Service Road(Maduravayul ByPass) guideline value

The current guideline value of Service Road(Maduravayul ByPass) is Rs 1,320 per sq.ft, effective from 1 July 2024. This road is located in Kadaperi village under the Tambaram Joint 1 SRO, and it falls under the Residential Class I Type - III land classification.

How the guideline value of Service Road(Maduravayul ByPass) has changed

Over the years, the guideline value for Service Road(Maduravayul ByPass) has seen several revisions. 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. Following that, in 2023, the value increased to Rs 1,200 per sq.ft, and the most recent revision in 2024 raised it further to Rs 1,320 per sq.ft, marking a 10% increase from the previous year. The register has no figures for the years 2002, 2003, and 2007.

From 2017 to 2023, there was a significant increase of 49%, while the adjustment from 2012 to 2017 reflected a decrease of 33%. Overall, from 2012 to 2024, the guideline value increased by 10%.

Guideline values in Kadaperi

Kadaperi village has a total of 142 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 7,700 per sq.ft. The median guideline value in the village is Rs 1,650 per sq.ft, indicating that the 2024 figure for Service Road(Maduravayul ByPass) is below this median.

• Singaravelar Street: Rs 1,100 per sq.ft (2024)
• South Kulakarai Street: Rs 2,200 per sq.ft (2024)
• Samiar Thottam: Rs 1,650 per sq.ft (2024)
• R.V.Garden: Rs 2,200 per sq.ft (2024)
• Srinivasan Street: Rs 1,650 per sq.ft (2024)
• Ranga Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Service Road(Maduravayul ByPass)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, and the registration fee at 2% would be Rs 26,400, making the total charges Rs 1,18,800. It is important to note that 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 Service Road(Maduravayul ByPass)?

The Sub Registrar Office that covers Service Road(Maduravayul ByPass) is the Tambaram Joint 1 Sub Registrar Office, located at No.26,mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during property transactions in Kadaperi. It is used to calculate the stamp duty and registration fees that must be paid when registering a property. Buyers should be aware that the guideline value is a key factor in determining the costs associated with property transactions.

When selling a property, the guideline value ensures that the transaction is recorded at a fair price according to the government's valuation. This helps maintain transparency and standardization in property dealings, ensuring that both buyers and sellers are aware of the financial implications involved.

Frequently asked questions

What is the current guideline value of Service Road(Maduravayul ByPass)?

The current guideline value of Service Road(Maduravayul ByPass) is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the most recent increase of 10% from Rs 1,200 per sq.ft in 2023 to Rs 1,320 per sq.ft in 2024. The value has fluctuated significantly over the years, with a decrease of 33% from 2012 to 2017.

What is the land classification for Service Road(Maduravayul ByPass)?

Service Road(Maduravayul ByPass) falls under the Residential Class I Type - III land classification, indicating its suitability for residential development.

Where can I find the registration office for this area?

The registration office for Service Road(Maduravayul ByPass) is the Tambaram Joint 1 Sub Registrar Office, located at No.26,mes Road, East Tambaram, Chennai-600059.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 13,20,000 would incur a stamp duty of Rs 92,400 at a rate of 7%.