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Guideline Value for Survey No.656/1, 657/1, 657/2, 681, 682/1, 686/1C

₹1300/sq.ft.

The guideline value for Survey No.656/1, 657/1, 657/2, 681, 682/1, 686/1c 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.656/1, 657/1, 657/2, 681, 682/1, 686/1c

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Survey No.656/1, 657/1, 657/2, 681, 682/1, 686/1C guideline value

The current guideline value for Survey No.656/1, 657/1, 657/2, 681, 682/1, 686/1C is Rs 1,300 per sq.ft, effective from 1 July 2024. This property is located in Madhavaram village, under the Madhavaram SRO, and falls under the Residential Class III Type - I land classification.

How the guideline value of Survey No.656/1, 657/1, 657/2, 681, 682/1, 686/1C has changed

The guideline value for this property has seen several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which was then reduced to Rs 804 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 1,200 per sq.ft in 2023, and it has now risen to Rs 1,300 per sq.ft in the 2024 revision, marking an 8% increase from the previous year. There are no figures available for the revisions in 2002, 2003, and 2007 for this street.

From the 2012 revision to the 2017 revision, the value decreased by 33%. However, from 2017 to 2023, there was a substantial increase of 49%. Overall, comparing the 2012 and 2024 revisions, 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 of Survey No.656/1, 657/1, 657/2, 681, 682/1, 686/1C is below this median.

Stamp duty and registration fee for property in Survey No.656/1, 657/1, 657/2, 681, 682/1, 686/1C

For a 1,000 sq.ft plot at the current rate of Rs 1,300 per sq.ft, the guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, totaling Rs 1,17,000. Duty is charged on the higher of the guideline value or the sale price.

For more details on fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Survey No.656/1, 657/1, 657/2, 681, 682/1, 686/1C?

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 plays a crucial role in the registration process of property transactions in Madhavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with the transfer of property ownership. Buyers should be aware of these values to ensure compliance with legal requirements during the transaction.

Frequently asked questions

What is the current guideline value for Survey No.656/1, 657/1, 657/2, 681, 682/1, 686/1C?

The current guideline value for Survey No.656/1, 657/1, 657/2, 681, 682/1, 686/1C 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?

The land classification for Survey No.656/1, 657/1, 657/2, 681, 682/1, 686/1C is Residential Class III Type - I.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, 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.

Which office handles the registration for this property?

The Madhavaram Sub Registrar Office handles the registration for Survey No.656/1, 657/1, 657/2, 681, 682/1, 686/1C, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.