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Guideline Value

Corporate

Guideline Value for Subam Avenue 2nd Street (Ward-02)

₹1600/sq.ft.

The guideline value for Subam Avenue 2nd Street (ward-02) in Madhavaram village (Madhavaram SRO, Chennai zone) is Rs 1600 per sq.ft, effective 1 July 2024. It was Rs 1500 per sq.ft from 1 April 2023, a 7% change. The land classification is Residential Class Ii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Madhavaram

Village

Madhavaram

SRO

Residential Class II Type - I
History
Period Guideline Value
From 1-7-2024 ₹1600 /sq.ft.
From 1-4-2023 ₹1500 /sq.ft.
From 9-6-2017 To 31-3-2023 N/A
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 Subam Avenue 2nd Street (ward-02)

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Subam Avenue 2nd Street (Ward-02) guideline value

The current guideline value of Subam Avenue 2nd Street (Ward-02) is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village and falls under the Madhavaram SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Subam Avenue 2nd Street (Ward-02) has changed

Looking at the historical revisions, the guideline value for Subam Avenue 2nd Street (Ward-02) has seen significant changes over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which increased to Rs 1,500 per sq.ft in the 2023 revision, marking a 25% increase. The latest revision in 2024 has further raised the value to Rs 1,600 per sq.ft, reflecting a 7% increase from the previous year.

Overall, from 2012 to 2024, the guideline value has increased by 33%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2017 for this street.

Guideline values in Madhavaram

In Madhavaram, 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 value for these streets is Rs 1,600 per sq.ft, which is equal to the 2024 guideline value for Subam Avenue 2nd Street (Ward-02).

Stamp duty and registration fee for property in Subam Avenue 2nd Street (Ward-02)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, making the total fees Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Subam Avenue 2nd Street (Ward-02)?

The Sub Registrar Office that covers Subam Avenue 2nd Street (Ward-02) 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 plays a crucial role in the registration process when buying or selling property in Madhavaram. It is used to determine the stamp duty and registration fees that must be paid during the transaction. Buyers and sellers must be aware of the current guideline value to ensure they are compliant with the regulations set by the registration department.

When a property is sold, the guideline value acts as a benchmark for the transaction. This means that if the sale price is lower than the guideline value, the stamp duty will be calculated based on the guideline value instead of the sale price. This ensures that the state receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Subam Avenue 2nd Street (Ward-02)?

The current guideline value of Subam Avenue 2nd Street (Ward-02) is Rs 1,600 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 1,500 per sq.ft in 2023, and then to Rs 1,600 per sq.ft in 2024. The overall increase from 2012 to 2024 is 33%.

What is the land classification for Subam Avenue 2nd Street (Ward-02)?

The land classification for Subam Avenue 2nd Street (Ward-02) is Residential Class II Type - I.

What are the stamp duty and registration fees for property transactions in this area?

For a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000, and the registration fee would be Rs 32,000, totaling Rs 1,44,000. The duty is charged on the higher of the guideline value or the sale price.

Where is the Sub Registrar Office located for this street?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles registrations for properties in Subam Avenue 2nd Street (Ward-02).