Guideline Value for Survey No.881/4

Survey No.881/4 guideline value

The current guideline value for Survey No.881/4 in Madhavaram village, under the Madhavaram SRO, is Rs 3,000 per sq.ft, effective from 1 July 2024. This property falls under the Commercial Class I Type - II land classification.

How the guideline value of Survey No.881/4 has changed

The guideline value for Survey No.881/4 has seen several revisions over the years. In 2012, the value was set at Rs 2,800 per sq.ft. This figure changed to Rs 1,876 per sq.ft in 2017, marking a decrease of 33%. However, from 2017 to 2023, the value significantly increased by 49% to reach Rs 2,800 per sq.ft. The latest revision in 2024 shows a further increase of 7%, bringing the current guideline value to Rs 3,000 per sq.ft.

It is important to note that there are no registered figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 7%.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO, with the 2024 guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value in the village is Rs 1,600 per sq.ft, making the current value of Survey No.881/4 above this median.

• Survey No.821/1: Rs 1,600 per sq.ft (2024)
• Survey No.750/2A, 751: Rs 2,700 per sq.ft (2024)
• Survey No.727/PART, 724, 728/1, 684/2B: Rs 1,300 per sq.ft (2024)
• Survey No.725/1,2B, 727/2: Rs 1,300 per sq.ft (2024)
• Survey No.701/2A: 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.881/4

For a 1,000 sq.ft plot at the current guideline value of Rs 3,000 per sq.ft, the total guideline value would be Rs 30,00,000. The stamp duty at 7% would amount to Rs 2,10,000, and the registration fee at 2% would be Rs 60,000. Together, the total costs would be Rs 2,70,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating your costs, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Survey No.881/4?

The Sub Registrar Office covering Survey No.881/4 is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for additional assistance.

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

The guideline value is a crucial factor when registering property transactions in Madhavaram. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value is used to calculate the stamp duty, which is charged at a percentage of either the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Survey No.881/4?

The current guideline value for Survey No.881/4 is Rs 3,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,800 per sq.ft in 2012 to Rs 1,876 per sq.ft in 2017, then back to Rs 2,800 per sq.ft in 2023, and finally to Rs 3,000 per sq.ft in 2024.

What is the land classification for Survey No.881/4?

Survey No.881/4 is classified as Commercial Class I Type - II land.

Where can I find the Madhavaram Sub Registrar Office?

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

How is stamp duty calculated for properties in Madhavaram?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. The current rate is 7% for stamp duty and 2% for the registration fee.