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Guideline Value

Corporate

Guideline Value for Teachers Colony 1st Layout, Lakshmipuram (Ward-26)

₹2450/sq.ft.

The guideline value for Teachers Colony 1st Layout, Lakshmipuram (ward-26) in Madhavaram village (Madhavaram SRO, Chennai zone) is Rs 2450 per sq.ft, effective 1 July 2024. It was Rs 2300 per sq.ft from 1 April 2023, a 7% change. The land classification is Industries Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Madhavaram

Village

Madhavaram

SRO

Industries Type - I
History
Period Guideline Value
From 1-7-2024 ₹2450 /sq.ft.
From 1-4-2023 ₹2300 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1541 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹2000 /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 Teachers Colony 1st Layout, Lakshmipuram (ward-26)

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Teachers Colony 1st Layout, Lakshmipuram (Ward-26) guideline value

The current guideline value for Teachers Colony 1st Layout, Lakshmipuram (Ward-26) is Rs 2,450 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village under the Madhavaram SRO, classified as Industries Type - I.

How the guideline value of Teachers Colony 1st Layout, Lakshmipuram (Ward-26) has changed

The guideline value for Teachers Colony 1st Layout has seen several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which changed to Rs 1,541 per sq.ft in 2017, marking a decrease of 23%. Following this, the value rose significantly to Rs 2,300 per sq.ft in 2023, and most recently to Rs 2,450 per sq.ft in the 2024 revision, reflecting an increase of 7% from the previous year. Notably, there are no figures available for the years 2002, 2003, and 2007 for this street.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 23%. The jump from Rs 1,541 per sq.ft in 2017 to Rs 2,300 per sq.ft in 2023 represents a substantial increase of 49%.

Guideline values in Madhavaram

In Madhavaram, the guideline values for 2024 range 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 Teachers Colony 1st Layout is above this median, indicating a higher valuation compared to many other streets in the area.

Stamp duty and registration fee for property in Teachers Colony 1st Layout, Lakshmipuram (Ward-26)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,450 per sq.ft, the total guideline value would be Rs 24,50,000. The stamp duty at 7% would amount to Rs 1,71,500, and the registration fee at 2% would be Rs 49,000, bringing the total cost for these fees to Rs 2,20,500. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Teachers Colony 1st Layout, Lakshmipuram (Ward-26)?

The Sub Registrar Office that covers Teachers Colony 1st Layout, Lakshmipuram (Ward-26) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process of property transactions in Madhavaram. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property, ensuring that these fees are based on a standardized value set by the authorities.

When selling property, the guideline value can impact the sale price, as it provides a benchmark for both buyers and sellers. It is essential for both parties to be aware of the current guideline value to facilitate a smooth transaction.

Frequently asked questions

What is the current guideline value for Teachers Colony 1st Layout?

The current guideline value for Teachers Colony 1st Layout, Lakshmipuram (Ward-26) is Rs 2,450 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,541 per sq.ft in 2017, then increased to Rs 2,300 per sq.ft in 2023, and finally to Rs 2,450 per sq.ft in 2024.

What is the land classification for Teachers Colony 1st Layout?

Teachers Colony 1st Layout, Lakshmipuram (Ward-26) is classified as Industries Type - I.

Where can I find information on stamp duty and registration fees?

Information on stamp duty and registration fees can be found using the stamp duty and registration fee calculator.

Which office handles registrations for Teachers Colony 1st Layout?

The Madhavaram Sub Registrar Office handles registrations for Teachers Colony 1st Layout, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.