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Guideline Value

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Guideline Value for Survey No.701/1A, 701/1B, 701/2B

₹1300/sq.ft.

The guideline value for Survey No.701/1a, 701/1b, 701/2b 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.701/1a, 701/1b, 701/2b

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Survey No.701/1A, 701/1B, 701/2B guideline value

The current guideline value for Survey No.701/1A, 701/1B, and 701/2B 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.701/1A, 701/1B, 701/2B has changed

The guideline value for this property has undergone several revisions over the years. The earliest recorded figure is from 2012, which was Rs 1,200 per sq.ft. This was followed by a decrease to Rs 804 per sq.ft in 2017. The value then increased significantly to Rs 1,200 per sq.ft in 2023, and finally, it rose to Rs 1,300 per sq.ft in the 2024 revision, marking an 8% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2012 figure to the current 2024 figure, there has been an 8% increase. There are no recorded figures for the years 2002, 2003, and 2007 for this street.

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.701/1A, 701/1B, and 701/2B is below this median.

Stamp duty and registration fee for property in Survey No.701/1A, 701/1B, 701/2B

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total 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, making the total cost for these fees Rs 1,17,000. Duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Survey No.701/1A, 701/1B, 701/2B?

The property falls under the jurisdiction of 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 crucial factor during the registration process when buying or selling property in Madhavaram. It serves as a benchmark to determine the stamp duty and registration fees that need to be paid, ensuring that the transaction is recorded at a fair value.

Frequently asked questions

What is the current guideline value for Survey No.701/1A, 701/1B, 701/2B?

The current guideline value for Survey No.701/1A, 701/1B, and 701/2B 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 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 these properties?

The land classification for Survey No.701/1A, 701/1B, and 701/2B is Residential Class III Type - I.

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

The stamp duty is 7% and the registration fee is 2%. For a 1,000 sq.ft plot at the current guideline value, the total fees would be Rs 1,17,000.

Which office handles registrations for this area?

The Madhavaram Sub Registrar Office handles registrations for Survey No.701/1A, 701/1B, and 701/2B, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.