Guideline Value for East Madaveethi

East Madaveethi guideline value

The current guideline value of East Madaveethi is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Kovur village under the Kunrathur SRO and is classified as Residential Special Type - II.

How the guideline value of East Madaveethi has changed

The guideline value for East Madaveethi has seen several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which then decreased to Rs 804 per sq.ft in 2017. Following this, the value rose significantly to Rs 1,200 per sq.ft in 2023, and currently stands at Rs 1,320 per sq.ft from the 2024 revision. The register has no figures for the years 2002, 2003, and 2007 for this street.

From the 2012 revision to the 2017 revision, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The most recent increase from 2023 to 2024 is 10%. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Kovur

Kovur village has a total of 91 streets under the Kunrathur SRO, with guideline values ranging from Rs 1,320 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, making East Madaveethi's 2024 figure below this median.

• Eswaran Nagar: Rs 1,320 per sq.ft (2024)
• Eswaran Nagar Annex: Rs 1,320 per sq.ft (2024)
• Dharmaraja koil Street: Rs 1,650 per sq.ft (2024)
• Dharmalingam Avenue: Rs 1,650 per sq.ft (2024)
• Deivarathinam Nagar: Rs 1,430 per sq.ft (2024)
• Gangadhran street: Rs 2,300 per sq.ft (2024)

Stamp duty and registration fee for property in East Madaveethi

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total to Rs 1,18,800. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers East Madaveethi?

The Sub Registrar Office covering East Madaveethi is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is an important factor in the registration process when buying or selling property in Kovur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value is used to calculate the applicable duties, ensuring that the transaction is registered at a fair value as determined by the local authorities. This helps in maintaining transparency in property transactions.

Frequently asked questions

What is the current guideline value of East Madaveethi?

The current guideline value of East Madaveethi is Rs 1,320 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, then increased to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What is the land classification of East Madaveethi?

East Madaveethi is classified as Residential Special Type - II under the Kunrathur SRO.

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

Other streets in Kovur include Eswaran Nagar and Eswaran Nagar Annex at Rs 1,320 per sq.ft, Dharmaraja koil Street and Dharmalingam Avenue at Rs 1,650 per sq.ft, and Deivarathinam Nagar at Rs 1,430 per sq.ft.

Where can I find the Sub Registrar Office for East Madaveethi?

The Sub Registrar Office for East Madaveethi is located at No.59, Road Street, Kundrathur, Chennai -600 069.