Guideline Value for Chelliamman Koil Street (Ward-6)

Chelliamman Koil Street (Ward-6) guideline value

The current guideline value of Chelliamman Koil Street (Ward-6) 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 Chelliamman Koil Street (Ward-6) has changed

Over the years, the guideline value of Chelliamman Koil Street has seen several revisions. The earliest recorded value is from 2012, which was Rs 1,200 per sq.ft. This figure changed to Rs 1,005 per sq.ft in the 2017 revision, marking a decrease of 16%. However, from 2017 to the 2024 revision, the value increased significantly by 59%, bringing it to the current rate of Rs 1,600 per sq.ft. The register has no figures for the years 2002, 2003, 2007, and 2023.

When considering the overall change from 2012 to 2024, the guideline value has increased by 33%. This reflects the adjustments made in the recent revisions, particularly the notable increase from 2017 to 2024.

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, with the median being Rs 1,600 per sq.ft. Chelliamman Koil Street's 2024 figure aligns with this median.

• Chelliamman Koil St (Ward-07): Rs 1,600 per sq.ft (2024)
• Chelliamman Nagar: Rs 1,600 per sq.ft (2024)
• Chellaiya Nagar , Ponniammanmedu (Ward-23): Rs 1,600 per sq.ft (2024)
• Chellaiya Nagar: Rs 1,600 per sq.ft (2024)
• Chandra Prabu Colony: Rs 1,600 per sq.ft (2024)
• Chandraprabhu Layout 3rd Main Road ( Ward No.20 ): Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Chelliamman Koil Street (Ward-6)

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, leading to a total cost of Rs 1,44,000 for these fees. It is important to note that 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 Chelliamman Koil Street (Ward-6)?

The Sub Registrar Office that covers Chelliamman Koil Street (Ward-6) 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 sold or purchased, ensuring transparency in property dealings.

When registering a property, the guideline value helps in calculating the applicable stamp duty and registration fees, which are essential for the legal transfer of ownership. Buyers and sellers must be aware of this value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Chelliamman Koil Street (Ward-6)?

The current guideline value of Chelliamman Koil Street (Ward-6) 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 from Rs 1,200 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, and then to Rs 1,600 per sq.ft in 2024. The register has no figures for the years 2002, 2003, 2007, and 2023.

What is the land classification of Chelliamman Koil Street?

Chelliamman Koil Street is classified as Residential Class II Type - I according to the current land classification standards.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000 and the registration fee would be Rs 32,000, totaling Rs 1,44,000. These fees are based on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office should I visit for transactions in Madhavaram?

The Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060, covers Chelliamman Koil Street (Ward-6) for property registration and related services.