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Guideline Value

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Guideline Value for T.N.S.C Bank Quarters (Ward-05)

₹1600/sq.ft.

The guideline value for T.n.s.c Bank Quarters (ward-05) in Madhavaram village (Madhavaram SRO, Chennai zone) is Rs 1600 per sq.ft, effective 1 July 2024. It was Rs 1500 per sq.ft from 1 April 2023, a 7% change. The land classification is Residential Class Ii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Madhavaram

Village

Madhavaram

SRO

Residential Class II Type - I
History
Period Guideline Value
From 1-7-2024 ₹1600 /sq.ft.
From 1-4-2023 ₹1500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1005 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹1500 /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 T.n.s.c Bank Quarters (ward-05)

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T.N.S.C Bank Quarters (Ward-05) guideline value

The current guideline value for T.N.S.C Bank Quarters (Ward-05) is Rs 1,600 per sq.ft, effective from 1 July 2024. This property is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class II Type - I.

How the guideline value of T.N.S.C Bank Quarters (Ward-05) has changed

The guideline value for T.N.S.C Bank Quarters has undergone several revisions over the years. In 2012, the value was Rs 1,500 per sq.ft, which decreased to Rs 1,005 per sq.ft in 2017. Following this, the value saw a significant increase to Rs 1,500 per sq.ft in 2023, and then to Rs 1,600 per sq.ft in 2024, marking a 7% increase from the previous year.

From 2017 to 2023, the increase was substantial at 49%. Overall, from 2012 to 2024, the guideline value has increased by 7%. The register has no 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. The median guideline value for these streets is Rs 1,600 per sq.ft, which matches the current value for T.N.S.C Bank Quarters (Ward-05).

Stamp duty and registration fee for property in T.N.S.C Bank Quarters (Ward-05)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total to Rs 1,44,000. 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 detailed calculations.

Which Sub Registrar Office covers T.N.S.C Bank Quarters (Ward-05)?

The T.N.S.C Bank Quarters (Ward-05) is covered by 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 in the registration process when buying or selling property in Madhavaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of registration.

When a property is sold, the guideline value is used to ensure that the transaction is recorded accurately and that the appropriate taxes are collected. Buyers should be aware of the current guideline value to understand their financial obligations during the property transaction.

Frequently asked questions

What is the current guideline value for T.N.S.C Bank Quarters (Ward-05)?

The current guideline value for T.N.S.C Bank Quarters (Ward-05) is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed as follows: Rs 1,500 per sq.ft in 2012, Rs 1,005 per sq.ft in 2017, Rs 1,500 per sq.ft in 2023, and Rs 1,600 per sq.ft in 2024. The most significant increase was from 2017 to 2023, with a 49% rise.

What is the land classification for T.N.S.C Bank Quarters (Ward-05)?

The land classification for T.N.S.C Bank Quarters (Ward-05) is Residential Class II Type - I. This classification indicates the type of development permissible in the area.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles the registration of properties in the area.

How is stamp duty calculated for properties in Madhavaram?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, for a property valued at Rs 16,00,000, the stamp duty would be calculated at 7% of that amount.