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Guideline Value

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Guideline Value for Sri Ramanujam Nagar, Lakshmipuram (Ward-26)

₹1300/sq.ft.

The guideline value for Sri Ramanujam Nagar, Lakshmipuram (ward-26) 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 ₹1200 /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 Sri Ramanujam Nagar, Lakshmipuram (ward-26)

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Sri Ramanujam Nagar, Lakshmipuram (Ward-26) guideline value

The current guideline value of Sri Ramanujam Nagar, Lakshmipuram (Ward-26) is Rs 1,300 per sq.ft, effective from 1 July 2024. This area falls under Madhavaram village and is classified as Residential Class III Type - I by the Madhavaram SRO.

How the guideline value of Sri Ramanujam Nagar, Lakshmipuram (Ward-26) has changed

Over the years, the guideline value for Sri Ramanujam Nagar has seen several revisions. The 2012 revision set the value at Rs 1,200 per sq.ft, which then decreased to Rs 804 per sq.ft in the 2017 revision. Following this, the value increased to Rs 1,200 per sq.ft in 2023, and currently, it stands at Rs 1,300 per sq.ft as of the 2024 revision. The changes between these revisions include a decrease of 33% from 2012 to 2017, followed by a significant increase of 49% from 2017 to 2023, and an increase of 8% from 2023 to 2024.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 8%.

Guideline values in Madhavaram

In Madhavaram village, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value 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, indicating that the current value for Sri Ramanujam Nagar is below the median.

Stamp duty and registration fee for property in Sri Ramanujam Nagar, Lakshmipuram (Ward-26)

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, bringing the total to Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Sri Ramanujam Nagar, Lakshmipuram (Ward-26)?

The Sub Registrar Office that covers Sri Ramanujam Nagar, Lakshmipuram (Ward-26) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. To find your SRO, visit find your SRO.

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

The guideline value is a crucial factor in the registration process for property transactions in Madhavaram. It serves as a benchmark for determining the minimum value of a property, ensuring that the registration fees and stamp duties are calculated fairly based on the established rates.

When buying or selling property, the guideline value helps in assessing the appropriate taxes and fees that need to be paid during the registration process. Buyers should be aware that the guideline value can vary significantly between different streets within the same area, impacting the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Sri Ramanujam Nagar, Lakshmipuram (Ward-26)?

The current guideline value of Sri Ramanujam Nagar, Lakshmipuram (Ward-26) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then increased to Rs 1,200 per sq.ft in 2023, and is now Rs 1,300 per sq.ft in 2024.

What is the land classification of Sri Ramanujam Nagar?

Sri Ramanujam Nagar is classified as Residential Class III Type - I by the Madhavaram SRO.

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 the stamp duty calculated for properties in Sri Ramanujam Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 13,00,000 would incur a stamp duty of Rs 91,000.