Guideline Value for Telugu Colony (North)

Telugu Colony (North) guideline value

The current guideline value for Telugu Colony (North) in Madhavaram village is Rs 1,300 per sq.ft, effective from 1 July 2024. This area falls under the Madhavaram Sub Registrar Office (SRO) and is classified as Residential Class III Type - I.

How the guideline value of Telugu Colony (North) has changed

The guideline value for Telugu Colony (North) has seen several revisions over the years. In 2012, the guideline value was Rs 1,200 per sq.ft, which decreased to Rs 804 per sq.ft in 2017. Following this, the value increased significantly in the 2024 revision to Rs 1,300 per sq.ft, marking a 62% rise from the 2017 figure. Overall, from 2012 to 2024, the guideline value has increased by 8%.

It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2023 for this street. Thus, the only available revisions are from 2012, 2017, and 2024.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO with a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value for these streets is Rs 1,600 per sq.ft, indicating that Telugu Colony (North) is below this median.

• Telugu Colony: Rs 1,300 per sq.ft (2024)
• Telugu Colony (Ward-07): Rs 1,300 per sq.ft (2024)
• Telephone Colony (Ward-08): 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 4th st (Ward No.8): Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Telugu Colony (North)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total cost to Rs 1,17,000. It is important to note that the 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 detailed calculations.

Which Sub Registrar Office covers Telugu Colony (North)?

The Telugu Colony (North) area is covered by 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 critical factor in the registration process when buying or selling property in Madhavaram. It serves as a benchmark for determining the minimum sale price of the property, ensuring that the transaction is documented at a fair value.

When registering a property, buyers and sellers must consider the guideline value to calculate applicable stamp duties and registration fees. This ensures compliance with local regulations and helps in the smooth processing of property transactions.

Frequently asked questions

What is the current guideline value for Telugu Colony (North)?

The current guideline value for Telugu Colony (North) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, and then increased to Rs 1,300 per sq.ft in 2024. This represents a 62% increase from 2017 to 2024.

What are the other streets in Madhavaram with their guideline values?

Other streets in Madhavaram include Telugu Colony (Ward-07) and various Telephone Colonies, with guideline values ranging from Rs 1,300 to Rs 1,600 per sq.ft in 2024.

How is stamp duty calculated in Telugu Colony (North)?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 at 7%.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find more details through the provided link.