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Guideline Value

Corporate

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

₹2200/sq.ft.

The guideline value for Teachers Colony, Lakshmipuram (ward-26) in Madhavaram village (Madhavaram SRO, Chennai zone) is Rs 2200 per sq.ft, effective 1 July 2024. It was Rs 2000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class I Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Madhavaram

Village

Madhavaram

SRO

Residential Class I Type - I
History
Period Guideline Value
From 1-7-2024 ₹2200 /sq.ft.
From 1-4-2023 ₹2000 /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, Lakshmipuram (ward-26)

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Teachers Colony, Lakshmipuram (Ward-26) guideline value

The current guideline value for Teachers Colony, Lakshmipuram (Ward-26) is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village and falls under the Madhavaram SRO. The land classification for this locality is Residential Class I Type - I.

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

In the 2012 revision, the guideline value was Rs 2,000 per sq.ft. This figure remained unchanged in the 2023 revision, where it continued to be Rs 2,000 per sq.ft. However, in the 2024 revision, the guideline value increased to Rs 2,200 per sq.ft, reflecting a 10% rise from the previous year. Overall, from 2012 to 2024, the guideline value has increased by 10%.

The register does not provide figures for the years 2002, 2003, 2007, and 2017 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, with a median value of Rs 1,600 per sq.ft. The guideline value for Teachers Colony, Lakshmipuram (Ward-26) is above this median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, leading to a total cost of Rs 1,98,000. 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 details.

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

The Sub Registrar Office that covers Teachers Colony, 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 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 of property transactions in Madhavaram. It serves as the basis for calculating the stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value is compared to the sale price. The higher of the two figures is used to determine the stamp duty and registration fees, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value for Teachers Colony, Lakshmipuram (Ward-26)?

The current guideline value for Teachers Colony, Lakshmipuram (Ward-26) is Rs 2,200 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 2,000 per sq.ft in 2023, and then increased to Rs 2,200 per sq.ft in 2024, reflecting a 10% rise from the previous year.

What is the land classification for Teachers Colony, Lakshmipuram (Ward-26)?

The land classification for Teachers Colony, Lakshmipuram (Ward-26) is Residential Class I Type - I, indicating its designation for residential use.

What are the stamp duty and registration fees based on the guideline value?

Stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For a plot valued at Rs 22,00,000, the total stamp duty and registration fees would be Rs 1,98,000.

Where can I find the Sub Registrar Office for Teachers Colony, Lakshmipuram (Ward-26)?

The Sub Registrar Office for Teachers Colony, Lakshmipuram (Ward-26) is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles property registrations in the area.