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Guideline Value

Corporate

Guideline Value for Teachers Colony 2nd Layout, Lakshmipuram (Ward-26)

₹2450/sq.ft.

The guideline value for Teachers Colony 2nd 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 2nd Layout, Lakshmipuram (ward-26)

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Teachers Colony 2nd Layout, Lakshmipuram (Ward-26) guideline value

The current guideline value of Teachers Colony 2nd Layout, Lakshmipuram (Ward-26) is Rs 2,450 per sq.ft, effective from 1 July 2024. This area falls under Madhavaram village and is classified as Industries Type - I. The relevant registration office is the Madhavaram Sub Registrar Office.

How the guideline value of Teachers Colony 2nd Layout, Lakshmipuram (Ward-26) has changed

The guideline value for this area has seen several revisions over the years. In 2012, the value was Rs 2,000 per sq.ft, which decreased to Rs 1,541 per sq.ft in 2017. Following this, the value increased significantly to Rs 2,300 per sq.ft in 2023. The most recent revision in 2024 has set the guideline value at Rs 2,450 per sq.ft.

From 2012 to 2017, there was a decrease of 23%. However, from 2017 to 2023, the value increased by 49%. The overall change from 2012 to 2024 reflects an increase of 23%. 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, with 2024 guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median value is Rs 1,600 per sq.ft, placing the guideline value of Teachers Colony 2nd Layout, Lakshmipuram (Ward-26) above this median.

Stamp duty and registration fee for property in Teachers Colony 2nd 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 is 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, making the total fees together Rs 2,20,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Teachers Colony 2nd Layout, Lakshmipuram (Ward-26)?

The Madhavaram Sub Registrar Office covers Teachers Colony 2nd Layout, Lakshmipuram (Ward-26). The office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for further assistance.

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

The guideline value is a crucial factor during property registration in Madhavaram. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives its due revenue from property transactions.

When buying or selling property, the guideline value serves as a reference point for both buyers and sellers. It helps in establishing a baseline for negotiations and ensures transparency in the transaction process.

Frequently asked questions

What is the current guideline value of Teachers Colony 2nd Layout, Lakshmipuram (Ward-26)?

The current guideline value of Teachers Colony 2nd 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 are the stamp duty and registration fees for property in this area?

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value or the sale price, whichever is higher. For a 1,000 sq.ft plot, the total fees would be Rs 2,20,500.

Which office handles registrations for this area?

The Madhavaram Sub Registrar Office handles registrations for Teachers Colony 2nd Layout, Lakshmipuram (Ward-26). The office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What is the land classification for Teachers Colony 2nd Layout, Lakshmipuram?

The land classification for Teachers Colony 2nd Layout, Lakshmipuram (Ward-26) is Industries Type - I.