Guideline Value

Corporate

Guideline Value for Sri Padmagiri Nagar

₹1300/sq.ft.

The guideline value for Sri Padmagiri Nagar in Madhavaram village (Madhavaram SRO, Chennai zone) is Rs 1300 per sq.ft, effective 1 July 2024. It was Rs 1200 per sq.ft from 1 April 2023, a 8% change. The land classification is Residential Class Iii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Madhavaram

Village

Madhavaram

SRO

Residential Class III Type - I
History
Period Guideline Value
From 1-7-2024 ₹1300 /sq.ft.
From 1-4-2023 ₹1200 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹804 /sq.ft.
From 1-4-2012 To 8-6-2017 N/A
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 Sri Padmagiri Nagar

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Sri Padmagiri Nagar guideline value

The current guideline value of Sri Padmagiri Nagar is Rs 1,300 per sq.ft, effective from the 2024 revision. This area is located in Madhavaram village under the Madhavaram SRO and is classified as Residential Class III Type - I.

How the guideline value of Sri Padmagiri Nagar has changed

The guideline value for Sri Padmagiri Nagar has seen several revisions over the years. The 2017 revision set the value at Rs 804 per sq.ft, which increased to Rs 1,200 per sq.ft in 2023. The latest revision in 2024 raised the value further to Rs 1,300 per sq.ft, marking an increase of 8% from the previous year.

From 2017 to 2023, the guideline value rose by 49%, and overall, from 2017 to 2024, it has increased by 62%. The register does not have figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO with a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median value for these streets is Rs 1,600 per sq.ft, placing Sri Padmagiri Nagar's 2024 figure below that median.

Stamp duty and registration fee for property in Sri Padmagiri Nagar

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. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Padmagiri Nagar?

The Sub Registrar Office that covers Sri Padmagiri Nagar is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. For more information, you can find your SRO.

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 during the registration process. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that the transaction is recorded accurately in accordance with government regulations.

The guideline value helps maintain transparency in property transactions, as it reflects the minimum value at which properties are registered. Buyers and sellers should be aware of the current guideline value to ensure compliance and avoid any legal issues during the transfer of property.

Frequently asked questions

What is the current guideline value of Sri Padmagiri Nagar?

The current guideline value of Sri Padmagiri Nagar is Rs 1,300 per sq.ft, effective from the 2024 revision.

How much has the guideline value changed in recent years?

From the 2017 revision to the 2023 revision, the guideline value increased by 49%. The value further increased by 8% from 2023 to 2024, resulting in an overall increase of 62% from 2017 to 2024.

What is the land classification of Sri Padmagiri Nagar?

Sri Padmagiri Nagar is classified as Residential Class III Type - I. This classification affects the guideline value and the types of properties that can be developed in the area.

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

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

How is the stamp duty calculated for properties in Sri Padmagiri Nagar?

Stamp duty for properties in Sri Padmagiri Nagar is calculated based on the guideline value or the sale price, whichever is higher. The current rate is 7% for stamp duty and 2% for the registration fee.