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Guideline Value

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Guideline Value for Survey No.529/2,3, 534/1A,1B,2,3 & 544/1

₹1300/sq.ft.

The guideline value for Survey No.529/2,3, 534/1a,1b,2,3 & 544/1 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 Survey No.529/2,3, 534/1a,1b,2,3 & 544/1

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Survey No.529/2,3, 534/1A,1B,2,3 & 544/1 guideline value

The current guideline value for Survey No.529/2,3, 534/1A,1B,2,3 & 544/1 is Rs 1,300 per sq.ft, effective from 1 July 2024. This property is located in Madhavaram village under the Madhavaram SRO, classified as Residential Class III Type - I.

How the guideline value of Survey No.529/2,3, 534/1A,1B,2,3 & 544/1 has changed

The guideline value for this property has seen several revisions over the years. Starting from the 2012 revision, the value was Rs 1,200 per sq.ft. It then decreased to Rs 804 per sq.ft in the 2017 revision. The value increased to Rs 1,200 per sq.ft in the 2023 revision before reaching the current value of Rs 1,300 per sq.ft in the 2024 revision.

Between the revisions, there were notable changes. From 2012 to 2017, the value decreased by 33%. However, from 2017 to 2023, it increased significantly by 49%. The 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 with a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value in this area is Rs 1,600 per sq.ft, placing the guideline value for Survey No.529/2,3, 534/1A,1B,2,3 & 544/1 below that median.

Stamp duty and registration fee for property in Survey No.529/2,3, 534/1A,1B,2,3 & 544/1

For a 1,000 sq.ft plot at the current rate of Rs 1,300 per sq.ft, the 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 Survey No.529/2,3, 534/1A,1B,2,3 & 544/1?

The Sub Registrar Office that covers this property 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 an essential factor in the registration process for property transactions in Madhavaram. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable duties and fees. Buyers should be aware that the duty is charged on the higher of the guideline value and the sale price, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value for Survey No.529/2,3, 534/1A,1B,2,3 & 544/1?

The current guideline value for Survey No.529/2,3, 534/1A,1B,2,3 & 544/1 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 increased 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 this property?

This property is classified as Residential Class III Type - I, indicating its suitability for residential development.

What is the stamp duty rate for properties in this area?

The stamp duty rate for properties in this area is 7%, which is applied to the higher of the guideline value or the sale price during registration.

Where can I find the Madhavaram Sub Registrar Office?

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