Guideline Value for Amman Koil st ( Ward No.23 )

Amman Koil st ( Ward No.23 ) guideline value

The current guideline value for Amman Koil st ( Ward No.23 ) 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 Amman Koil st ( Ward No.23 ) has changed

The guideline value for Amman Koil st ( Ward No.23 ) has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 1,500 per sq.ft. This figure decreased to Rs 1,005 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to the 2024 revision, the value increased significantly to Rs 1,600 per sq.ft, representing a rise of 59%.

Overall, comparing the 2012 revision to the 2024 revision, there has been a slight increase of 7%. It is important to note that the register has no figures for the years 2023, 2007, 2003, and 2002 for this street.

Guideline values in Madhavaram

Madhavaram village features 1,946 streets under the Madhavaram SRO, with the 2024 guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median value in this area is Rs 1,600 per sq.ft, which aligns with the current guideline value for Amman Koil st ( Ward No.23 ).

• Amman Koil st ( Ward No.29 ): Rs 1,600 per sq.ft (2024)
• Amman Koil Street (Lakshmipuram) (Ward-27): Rs 1,600 per sq.ft (2024)
• Ambujammal Street (Ward-22): Rs 1,600 per sq.ft (2024)
• Ambujamaal St (Ponniamman Medu) (Ward-22): Rs 1,600 per sq.ft (2024)
• Ambethkar Nagar (Ward-13): Rs 1,300 per sq.ft (2024)
• Ambedkhar 6th St 6th Sub Division (Ward 13): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Amman Koil st ( Ward No.23 )

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to 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.

You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Amman Koil st ( Ward No.23 )?

The Sub Registrar Office that covers Amman Koil st ( Ward No.23 ) 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 critical factor in property transactions in Madhavaram. It determines the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling a property, the guideline value serves as a benchmark for calculating the applicable stamp duty and registration fees. Buyers should be aware that these costs are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value for Amman Koil st ( Ward No.23 )?

The current guideline value for Amman Koil st ( Ward No.23 ) is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has fluctuated, with the 2012 revision at Rs 1,500 per sq.ft, dropping to Rs 1,005 per sq.ft in 2017, and then rising to Rs 1,600 per sq.ft in 2024.

What is the land classification for Amman Koil st ( Ward No.23 )?

Amman Koil st ( Ward No.23 ) is classified as Residential Class II Type - I.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is stamp duty calculated for properties in Madhavaram?

Stamp duty 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%.