Guideline Value for Telephone Colony 2nd st ( Ward No.8 )

Telephone Colony 2nd st ( Ward No.8 ) guideline value

The current guideline value for Telephone Colony 2nd st ( Ward No.8 ) is Rs 1,600 per sq.ft, effective from 1 July 2024. This street 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 2nd st ( Ward No.8 ) has changed

The guideline value for Telephone Colony 2nd st ( Ward No.8 ) has undergone several revisions over the years. The earliest recorded figure is from the 2012 revision, which set the value at Rs 1,200 per sq.ft. This figure was later revised to Rs 1,600 per sq.ft in 2024, marking an increase of 33% over the 12-year period.

There are no recorded figures for the years 2002, 2003, 2007, 2017, and 2023 for this street. The significant change from 2012 to 2024 indicates a notable adjustment in the guideline value.

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 across these streets is Rs 1,600 per sq.ft, which is equal to the current guideline value for Telephone Colony 2nd st ( Ward No.8 ).

• Telephone Colony 1st 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 4th st ( Ward No.8 ): Rs 1,600 per sq.ft (2024)
• 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 (Ward-08): Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Telephone Colony 2nd st ( Ward No.8 )

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, bringing the total to Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Telephone Colony 2nd st ( Ward No.8 )?

The Sub Registrar Office that covers Telephone Colony 2nd st ( Ward No.8 ) 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 property transactions in Madhavaram. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling property, it is essential to consider the guideline value to ensure compliance with registration requirements.

During the registration process, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher, ensuring that the transaction is appropriately valued for legal and taxation purposes.

Frequently asked questions

What is the current guideline value for Telephone Colony 2nd st ( Ward No.8 )?

The current guideline value for Telephone Colony 2nd st ( Ward No.8 ) is Rs 1,600 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value increased from Rs 1,200 per sq.ft in 2012 to Rs 1,600 per sq.ft in 2024, which is a 33% increase over that period.

Are there any years without recorded guideline values for this street?

Yes, there are no recorded figures for the years 2002, 2003, 2007, 2017, and 2023 for Telephone Colony 2nd st ( Ward No.8 ).

What are the other streets in Madhavaram with the same guideline value?

Other streets in Madhavaram with the same guideline value of Rs 1,600 per sq.ft include Telephone Colony 1st st, 3rd st, 4th st, South, and Lakshmipuram.

Where can I find the Sub Registrar Office for this area?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060, and it covers Telephone Colony 2nd st ( Ward No.8 ).