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Guideline Value

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Guideline Value for Shanthi Colony 1st st ( Ward No.21 )

₹1600/sq.ft.

The guideline value for Shanthi Colony 1st St ( Ward No.21 ) in Madhavaram village (Madhavaram SRO, Chennai zone) is Rs 1600 per sq.ft, effective 1 July 2024. The land classification is Residential Class Ii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Madhavaram

Village

Madhavaram

SRO

Residential Class II Type - I
History
Period Guideline Value
From 1-7-2024 ₹1600 /sq.ft.
From 1-4-2023 N/A
From 9-6-2017 To 31-3-2023 ₹1005 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹1500 /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 Shanthi Colony 1st St ( Ward No.21 )

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Shanthi Colony 1st st ( Ward No.21 ) guideline value

The current guideline value of Shanthi Colony 1st st ( Ward No.21 ) is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village under the Madhavaram SRO, classified as Residential Class II Type - I.

How the guideline value of Shanthi Colony 1st st ( Ward No.21 ) has changed

The guideline value for Shanthi Colony 1st st has seen several revisions over the years. The earliest available figure is from 2012, which was Rs 1,500 per sq.ft. This was followed by a decrease to Rs 1,005 per sq.ft in the 2017 revision. The most recent revision in 2024 has increased the guideline value to Rs 1,600 per sq.ft, marking a significant increase of 59% from the 2017 figure. Overall, from 2012 to 2024, the guideline value has increased by 7%.

It is important to note that there are no figures available for the years 2023, 2007, 2003, and 2002 for this street. This lack of data means that the changes in guideline value between these years cannot be assessed.

Guideline values in Madhavaram

Madhavaram village has a total of 1,946 streets under the Madhavaram SRO, with the 2024 guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value for these streets is Rs 1,600 per sq.ft, which is equal to the current figure for Shanthi Colony 1st st.

Stamp duty and registration fee for property in Shanthi Colony 1st st ( Ward No.21 )

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total to Rs 1,44,000. It is important to note that the stamp duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Shanthi Colony 1st st ( Ward No.21 )?

The Sub Registrar Office that covers Shanthi Colony 1st st ( Ward No.21 ) 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 a crucial factor during the registration of 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 through stamp duty and registration fees.

When buying or selling property, the guideline value helps both buyers and sellers understand the prevailing market conditions. It is essential for buyers to be aware of the guideline value to ensure they are making informed decisions during negotiations and transactions.

Frequently asked questions

What is the current guideline value of Shanthi Colony 1st st?

The current guideline value of Shanthi Colony 1st st ( Ward No.21 ) is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, and then increased to Rs 1,600 per sq.ft in 2024. Overall, this represents a 7% increase from 2012 to 2024.

What is the land classification of Shanthi Colony 1st st?

Shanthi Colony 1st st is classified as Residential Class II Type - I.

Where can I find the Madhavaram Sub Registrar Office?

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

How is stamp duty calculated for properties in Shanthi Colony 1st st?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000.