Guideline Value for ANDAL KOIL STREET (MADANANKUPPAM)

Andal Koil Street (Madanankuppam) guideline value

The current guideline value of Andal Koil Street (Madanankuppam) is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Korattur village and falls under the Villivakkam SRO. The land classification for this area is Residential Class III Type - III.

How the guideline value of Andal Koil Street (Madanankuppam) has changed

The guideline value for Andal Koil Street has seen several revisions over the years. In the 2007 revision, the value was Rs 150 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in the 2012 revision. However, it then decreased to Rs 1,005 per sq.ft in the 2017 revision. The 2023 revision marked a rise to Rs 1,500 per sq.ft, and the latest 2024 revision has set the value at Rs 1,600 per sq.ft.

Between the revisions, there have been notable changes. From 2007 to 2012, the value increased by 900%. However, it dropped by 33% from 2012 to 2017. The value then surged by 49% from 2017 to 2023. The most recent change from 2023 to 2024 reflects a 7% increase. Overall, from 2007 to 2024, the guideline value has risen by 967%.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 8,200 per sq.ft, with a median value of Rs 2,500 per sq.ft. Andal Koil Street's 2024 figure of Rs 1,600 per sq.ft is below this median.

• Andal Nagar: Rs 1,300 per sq.ft (2024)
• Anbu Nagar: Rs 2,100 per sq.ft (2024)
• Ananthalakshmi Nagar Extension: Rs 1,600 per sq.ft (2024)
• Ananthalakshmi Nagar: Rs 1,600 per sq.ft (2024)
• Anand Garden: Rs 1,600 per sq.ft (2024)
• Amman Koil Street @ Nagathamman Koil Street (Thanthankuppam): Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Andal Koil Street (Madanankuppam)

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, totaling Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Andal Koil Street (Madanankuppam)?

The Sub Registrar Office that covers Andal Koil Street (Madanankuppam) is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

The guideline value is a critical factor during the registration of property transactions. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property in Korattur, the guideline value will determine the minimum value at which the property can be registered. This ensures that the property is not sold for less than the established guideline value, safeguarding the interests of both the buyer and the state.

Frequently asked questions

What is the current guideline value of Andal Koil Street (Madanankuppam)?

The current guideline value of Andal Koil Street (Madanankuppam) is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 150 per sq.ft in 2007 to Rs 1,600 per sq.ft in 2024, reflecting an overall increase of 967% over the years.

What is the land classification for Andal Koil Street (Madanankuppam)?

The land classification for Andal Koil Street (Madanankuppam) is Residential Class III Type - III.

Where is the Sub Registrar Office located for Andal Koil Street (Madanankuppam)?

The Villivakkam Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the stamp duty calculated for property in Andal Koil Street (Madanankuppam)?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For a plot of 1,000 sq.ft, the stamp duty would be Rs 1,12,000 based on the current guideline value.