Guideline Value for Survey No.679

Survey No.679 guideline value

The current guideline value of Survey No.679 in Madhavaram village, under the Madhavaram SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. This property is classified as Commercial Class I Type - I.

How the guideline value of Survey No.679 has changed

The guideline value for Survey No.679 has seen several revisions over the years. In 2012, the value was set at Rs 3,000 per sq.ft, which then decreased to Rs 2,010 per sq.ft in 2017. However, from 2017 to 2024, the value has increased significantly to Rs 3,300 per sq.ft, marking a change of +64%. Overall, from 2012 to 2024, there has been a slight increase of +10%.

It is important to note that there are no recorded figures for the years 2002, 2003, 2007, and 2023 for this street. The changes in the guideline values highlight the fluctuations in property valuation over the years.

Guideline values in Madhavaram

In Madhavaram, there are a total of 1,946 streets under the Madhavaram SRO with a 2024 guideline value range from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value for these streets is Rs 1,600 per sq.ft, placing Survey No.679's 2024 figure above this median.

• Survey No.656/2, 682/1 & 686/1C: Rs 1,300 per sq.ft (2024)
• Survey No.689/2: Rs 1,300 per sq.ft (2024)
• Survey No.656/2: Rs 1,300 per sq.ft (2024)
• Survey No.701/1A, 701/1B, 701/2B: Rs 1,300 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.701/1B, 702/1C: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Survey No.679

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Survey No.679?

The Sub Registrar Office covering Survey No.679 is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060, within the Chennai registration zone. 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 during the registration of property transactions in Madhavaram. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives appropriate revenue from property sales.

When buying or selling property, the guideline value is referenced to determine the minimum value at which the property can be registered. This ensures transparency and helps in maintaining a standard valuation across similar properties in the region.

Frequently asked questions

What is the current guideline value of Survey No.679?

The current guideline value of Survey No.679 is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, and then increased to Rs 3,300 per sq.ft in 2024. Overall, from 2012 to 2024, there has been a +10% change.

What is the land classification for Survey No.679?

Survey No.679 is classified as Commercial Class I Type - I, indicating its designation for commercial use.

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

For a property valued at Rs 33,00,000, the stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000.

Where is the Sub Registrar Office for Survey No.679 located?

The Sub Registrar Office for Survey No.679 is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.