Guideline Value for Telephone Colony (Ward-08)

Telephone Colony (Ward-08) guideline value

The current guideline value of Telephone Colony (Ward-08) is Rs 1,600 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class II Type - I.

How the guideline value of Telephone Colony (Ward-08) has changed

The guideline value for Telephone Colony (Ward-08) has undergone several revisions over the years. The earliest recorded revision is from 2012, where the guideline value was Rs 1,500 per sq.ft. In 2024, this value was revised to Rs 1,600 per sq.ft, marking an increase of 7% from the 2012 figure. Notably, the register has no figures for the years 2023, 2017, 2007, 2003, and 2002 for this street.

From the 2012 revision to the 2024 revision, the guideline value increased from Rs 1,500 to Rs 1,600 per sq.ft. This consistent increase reflects the adjustments made during the revision periods, aligning with the overall trend observed in the Madhavaram region.

Guideline values in Madhavaram

In Madhavaram village, there are a total of 1,946 streets, with guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft as of the 2024 revision. The median guideline value for the village is Rs 1,600 per sq.ft, which is the same as the current guideline value for Telephone Colony (Ward-08).

• Telephone Colony South ( Ward No.8): Rs 1,600 per sq.ft (2024)
• Telephone Colony (Lakshmipuram): Rs 1,600 per sq.ft (2024)
• Telephone Colony 4th st ( Ward No.8): Rs 1,600 per sq.ft (2024)
• Telephone Colony 3rd st ( Ward No.8): Rs 1,600 per sq.ft (2024)
• Telephone Colony 2nd st ( Ward No.8): Rs 1,600 per sq.ft (2024)
• Telephone Colony 1st st ( Ward No.8): Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Telephone Colony (Ward-08)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, resulting in a total of Rs 1,44,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Telephone Colony (Ward-08)?

The Sub Registrar Office that covers Telephone Colony (Ward-08) 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 during the registration of property transactions in Madhavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, which can significantly impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Telephone Colony (Ward-08)?

The current guideline value of Telephone Colony (Ward-08) is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value changed from Rs 1,500 per sq.ft in 2012 to Rs 1,600 per sq.ft in 2024, which is an increase of 7%. There are no recorded figures for the years 2023, 2017, 2007, 2003, and 2002 for this street.

What is the land classification of Telephone Colony (Ward-08)?

Telephone Colony (Ward-08) is classified as Residential Class II Type - I. This classification indicates the type of development and usage permitted 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 Telephone Colony (Ward-08)?

Stamp duty for properties in Telephone Colony (Ward-08) is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000 at a rate of 7%.