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Guideline Value

Corporate

Guideline Value for Teachers Colony 3rd Layout, Lakshmipuram (Ward-26)

₹2450/sq.ft.

The guideline value for Teachers Colony 3rd 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 N/A
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 3rd Layout, Lakshmipuram (ward-26)

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Teachers Colony 3rd Layout, Lakshmipuram (Ward-26) guideline value

The current guideline value for Teachers Colony 3rd 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 Madhavaram SRO oversees the registration for this locality.

How the guideline value of Teachers Colony 3rd Layout, Lakshmipuram (Ward-26) has changed

The guideline value for Teachers Colony 3rd Layout has seen several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which increased to Rs 2,300 per sq.ft in the 2023 revision. The latest revision in 2024 has raised the guideline value to Rs 2,450 per sq.ft, marking a 7% increase from the previous year. Overall, from 2012 to 2024, the guideline value has increased by 23%.

There are no figures available for the revisions in 2002, 2003, 2007, and 2017 for this street. The increase from 2012 to 2023 was 15%, reflecting a steady rise in the guideline value over this period.

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 value is Rs 1,600 per sq.ft, placing the 2024 guideline value for Teachers Colony 3rd Layout above this median.

Stamp duty and registration fee for property in Teachers Colony 3rd Layout, Lakshmipuram (Ward-26)

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

You can use the stamp duty and registration fee calculator for more information on fees applicable to your property transaction.

Which Sub Registrar Office covers Teachers Colony 3rd Layout, Lakshmipuram (Ward-26)?

The Teachers Colony 3rd Layout, Lakshmipuram (Ward-26) falls under the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in property transactions, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as the registration office will use the guideline value to calculate stamp duty and registration fees.

When a property is sold, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives a fair amount in taxes based on the property's assessed value.

Frequently asked questions

What is the current guideline value for Teachers Colony 3rd Layout?

The current guideline value for Teachers Colony 3rd Layout, Lakshmipuram (Ward-26) is Rs 2,450 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed from 2012 to 2024?

From 2012 to 2024, the guideline value has increased by 23%, rising from Rs 2,000 per sq.ft in 2012 to Rs 2,450 per sq.ft in 2024.

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

For a property valued at Rs 24,50,000, the stamp duty would be Rs 1,71,500, and the registration fee would be Rs 49,000, totaling Rs 2,20,500.

Which Sub Registrar Office handles registrations for this area?

The Madhavaram Sub Registrar Office handles registrations for Teachers Colony 3rd Layout, Lakshmipuram (Ward-26), located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How does the guideline value affect property transactions?

The guideline value affects property transactions by determining the minimum registration value for properties. It is used to calculate stamp duty and registration fees, ensuring that the government receives appropriate taxes based on the property's assessed value.