Guideline Value for Survey No.513, 514/1

Survey No.513, 514/1 guideline value

The current guideline value for Survey No.513, 514/1 in Madhavaram village, under the Madhavaram SRO, is Rs 1,300 per sq.ft, effective from 1 July 2024. This property falls under the Residential Class III Type - I land classification.

How the guideline value of Survey No.513, 514/1 has changed

The guideline value for Survey No.513, 514/1 has undergone several revisions over the years. The earliest recorded revision is from 2012, which set the value at Rs 1,200 per sq.ft. This was followed by a decrease to Rs 804 per sq.ft in 2017. In 2023, the value rose to Rs 1,200 per sq.ft, and the most recent revision in 2024 has increased it further to Rs 1,300 per sq.ft.

Between the revisions, significant changes have been noted. From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The most recent change from 2023 to 2024 reflects an increase of 8%. Overall, from 2012 to 2024, the guideline value has increased by 8%.

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, with a median value of Rs 1,600 per sq.ft. The guideline value for Survey No.513, 514/1 is below this median.

• Survey No.508/3: Rs 1,300 per sq.ft (2024)
• Survey No.513, 514/1,2: Rs 1,300 per sq.ft (2024)
• Survey No.508/2: Rs 1,300 per sq.ft (2024)
• Survey No.516/1, 516/2A: Rs 1,300 per sq.ft (2024)
• Survey No.503/1: Rs 3,300 per sq.ft (2024)
• Survey No.529/2,3, 534/1A,1B,2,3 & 544/1: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Survey No.513, 514/1

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, amounting to a total of Rs 1,17,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Survey No.513, 514/1?

The Sub Registrar Office that covers Survey No.513, 514/1 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 critical factor in property transactions in Madhavaram. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold. The guideline value is set by the government and reflects the minimum value at which a property can be registered.

When you buy or sell property, the transaction must be registered with the Sub Registrar Office, and the applicable fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Survey No.513, 514/1?

The current guideline value for Survey No.513, 514/1 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 back to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,300 per sq.ft in 2024.

What is the land classification for Survey No.513, 514/1?

Survey No.513, 514/1 is classified as Residential Class III Type - I.

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

For a 1,000 sq.ft plot at the current guideline value, the total guideline value is Rs 13,00,000. The stamp duty would be Rs 91,000, and the registration fee would be Rs 26,000, totaling Rs 1,17,000.

Where is the Sub Registrar Office for this property located?

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