Guideline Value for Sri Madha Nagar

Sri Madha Nagar guideline value

The current guideline value of Sri Madha Nagar, located in Vadakal_C village under the Sriperumpudur SRO, is Rs 500 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - II.

How the guideline value of Sri Madha Nagar has changed

As per the register, there are no recorded figures for Sri Madha Nagar in the years 2002, 2003, 2007, 2012, and 2017. The 2023 revision set the guideline value at Rs 400 per sq.ft. Following this, the 2024 revision increased the value to Rs 500 per sq.ft, marking a change of +25% from the previous year.

The current guideline value reflects a significant increase from the last recorded figure. The 2024 guideline value is Rs 500 per sq.ft, which is above the median value of Rs 400 per sq.ft for the 61 streets in Vadakal_C under the Sriperumpudur SRO.

Guideline values in Vadakal_C

In Vadakal_C, the guideline values for various streets range from Rs 150 to Rs 1,500 per sq.ft, with the median being Rs 400 per sq.ft. Sri Madha Nagar's 2024 guideline value is above this median. Below are the guideline values for other streets in Vadakal_C:

• Sriperumpudur Chengalpattu Road: Rs 600 per sq.ft (2024)
• Sri Ramanuja Residency lay out: Rs 550 per sq.ft (2024)
• Sri Dhanushkodi Garden: Rs 600 per sq.ft (2024)
• Sri Baba Nagar ph.III: Rs 550 per sq.ft (2024)
• Sri Baba Nagar Phase-IV: Rs 600 per sq.ft (2024)
• Sri Aurobindo Vasantham Nature City: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Madha Nagar

For a 1,000 sq.ft plot at the current rate of Rs 500 per sq.ft, the guideline value amounts to Rs 5,00,000. The stamp duty at 7% would be Rs 35,000, and the registration fee at 2% would be Rs 10,000, totaling Rs 45,000. It is important to note that the 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 Sri Madha Nagar?

The Sub Registrar Office covering Sri Madha Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in property transactions within Vadakal_C. It serves as a benchmark for calculating stamp duty and registration fees when buying or selling property. Buyers must consider the guideline value to understand the costs associated with property registration.

When a property is sold, the guideline value is used to determine the applicable stamp duty and registration fees. This ensures that the government receives the appropriate revenue based on the established guideline values for different areas.

Frequently asked questions

What is the current guideline value of Sri Madha Nagar?

The current guideline value of Sri Madha Nagar is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2023 to Rs 500 per sq.ft in 2024, representing a +25% increase. There are no recorded figures for the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification for Sri Madha Nagar?

Sri Madha Nagar is classified as Residential Special Type - II. This classification affects the guideline value and property transactions in the area.

Where can I find the Sub Registrar Office for Sri Madha Nagar?

The Sub Registrar Office for Sri Madha Nagar is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How is stamp duty calculated for properties in Sri Madha Nagar?

Stamp duty for properties in Sri Madha Nagar is calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at Rs 500 per sq.ft has a guideline value of Rs 5,00,000, leading to a total stamp duty and registration fee of Rs 45,000.