Guideline Value for Soorapat Road (Ward-29)

Soorapat Road (Ward-29) guideline value

The current guideline value of Soorapat Road (Ward-29) is Rs 1,300 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 III Type - I.

How the guideline value of Soorapat Road (Ward-29) has changed

Since the 2012 revision, the guideline value for Soorapat Road (Ward-29) has seen an increase of 8%, moving from Rs 1,200 per sq.ft in 2012 to Rs 1,300 per sq.ft in 2024. The 2023 revision recorded a value of Rs 1,200 per sq.ft, indicating no change from the previous revision in 2012.

The register has no figures for the years 2002, 2003, 2007, and 2017 for this street. The only revisions available are from 2012, 2023, and the latest from 2024.

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 for these streets is Rs 1,600 per sq.ft, making the current value of Soorapat Road (Ward-29) below that median.

• Soorappattu Road (Vinayagapuram): Rs 1,300 per sq.ft (2024)
• S.M.B. Nagar (Ward-11): Rs 1,300 per sq.ft (2024)
• Sivasakthi Nagar (Ward-14): Rs 1,300 per sq.ft (2024)
• Sivasakthi Nagar 4th st (Ward No.14): Rs 1,300 per sq.ft (2024)
• Sivasakthi Nagar 4th Cross St (Ward 14): Rs 1,300 per sq.ft (2024)
• Sree Nagar (Ward-04): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Soorapat Road (Ward-29)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, totaling Rs 1,17,000. It is important to note that 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 details.

Which Sub Registrar Office covers Soorapat Road (Ward-29)?

The Sub Registrar Office that covers Soorapat Road (Ward-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

When buying or selling property in Madhavaram, the guideline value is a crucial factor in determining the registration fees and stamp duty. This value serves as a benchmark for calculating the costs associated with property transactions.

It is essential to be aware that the guideline value may differ from the actual sale price, and the duty will be charged based on whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Soorapat Road (Ward-29)?

The current guideline value of Soorapat Road (Ward-29) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

From 2012 to 2023, the guideline value remained at Rs 1,200 per sq.ft, and then increased to Rs 1,300 per sq.ft in 2024. Overall, there has been an 8% increase from the 2012 revision to the 2024 revision.

What are the stamp duty and registration fees for property on Soorapat Road?

For a property of 1,000 sq.ft at the current guideline value, the total guideline value is Rs 13,00,000. The stamp duty would be Rs 91,000 and the registration fee would be Rs 26,000, totaling Rs 1,17,000.

Which office handles the registration for Soorapat Road?

The Madhavaram Sub Registrar Office handles the registration for Soorapat Road (Ward-29). It is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What is the land classification of Soorapat Road?

Soorapat Road (Ward-29) is classified as Residential Class III Type - I, indicating its suitability for residential development.