Guideline Value for St.Francis Colony ( Ward No.19 )

St.Francis Colony ( Ward No.19 ) guideline value

The current guideline value of St.Francis Colony ( Ward No.19 ) is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class I Type - I.

How the guideline value of St.Francis Colony ( Ward No.19 ) has changed

The guideline value for St.Francis Colony has seen significant changes over the years. In the 2012 revision, the value was set at Rs 1,500 per sq.ft. This rose to Rs 2,000 per sq.ft in the 2023 revision, marking a 33% increase. The latest revision in 2024 has further increased the guideline value to Rs 2,200 per sq.ft, a 10% rise from the previous year.

There are no figures available for the years 2002, 2003, 2007, and 2017 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 47%.

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, placing St.Francis Colony's 2024 guideline value above this median.

• St. Francis Colony: Rs 2,200 per sq.ft (2024)
• St. Joseph Garden: Rs 1,300 per sq.ft (2024)
• St. Joseph Garden Extension: Rs 1,300 per sq.ft (2024)
• St. Joseph Garden (Ward-10): Rs 1,300 per sq.ft (2024)
• Subam Avenue 1st Street (Ward-02): Rs 1,600 per sq.ft (2024)
• Subam Avenue 2nd Street (Ward-02): Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in St.Francis Colony ( Ward No.19 )

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. Please note that the 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 further calculations.

Which Sub Registrar Office covers St.Francis Colony ( Ward No.19 )?

The Sub Registrar Office that covers St.Francis Colony 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 in the registration process when buying or selling property in Madhavaram. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the transaction is recorded at a fair value.

When a property is sold, the guideline value serves as a benchmark for the sale price. Buyers and sellers must be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of St.Francis Colony?

The current guideline value of St.Francis Colony ( Ward No.19 ) is Rs 2,200 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 2,000 per sq.ft in 2023, and then to Rs 2,200 per sq.ft in 2024. There are no figures available for the years 2002, 2003, 2007, and 2017.

What is the registration fee for property in St.Francis Colony?

The registration fee for property in St.Francis Colony is calculated at 2% of the guideline value. For example, a property valued at Rs 22,00,000 would incur a registration fee of Rs 44,000.

Where is the Madhavaram Sub Registrar Office located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles the registration of properties in St.Francis Colony.

How is the guideline value used in property transactions?

The guideline value is used to determine the minimum value for calculating stamp duty and registration fees during property transactions. It ensures that the property is registered at a fair value, reflecting the current market conditions.