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

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

The current guideline value for Survey No.656/2, 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, classified as Residential Class III Type - I.

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

The guideline value for this property has seen several revisions over the years. In 2012, the value was Rs 1,200 per sq.ft, which decreased to Rs 804 per sq.ft in 2017. However, from 2017 to 2024, the value increased significantly to Rs 1,300 per sq.ft, marking a 62% rise. Overall, from 2012 to 2024, the guideline value has increased by 8%.

There are no figures available for the years 2002, 2003, 2007, and 2023 for this street in the register.

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.656/2, 682/1 & 686/1C is below this median.

• Survey No.656/2: Rs 1,300 per sq.ft (2024)
• Survey No.679: Rs 3,300 per sq.ft (2024)
• Survey No.656/1, 657/1, 657/2, 681, 682/1, 686/1C: Rs 1,300 per sq.ft (2024)
• Survey No.689/2: Rs 1,300 per sq.ft (2024)
• Survey No.656/1: Rs 1,300 per sq.ft (2024)
• Survey No.701/1A, 701/1B, 701/2B: Rs 1,300 per sq.ft (2024)

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

The Sub Registrar Office that covers Survey No.656/2, 682/1 & 686/1C is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for further assistance.

How the guideline value is used when you buy or sell in Madhavaram

The guideline value is a crucial factor when it comes to the registration of properties in Madhavaram. It determines the minimum value at which the property can be registered, ensuring that the transaction is documented accurately and transparently.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. This ensures that both parties are aware of the financial implications of the transaction based on the established guideline values.

Frequently asked questions

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

The current guideline value for Survey No.656/2, 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?

Over the years, the guideline value for this property has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, and then increased to Rs 1,300 per sq.ft in 2024.

What is the land classification for Survey No.656/2, 682/1 & 686/1C?

The land classification for Survey No.656/2, 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, the total stamp duty and registration fees would amount to Rs 1,17,000, calculated based on the guideline value of Rs 13,00,000.

Which office handles the registration for this property?

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