Guideline Value for L.N.P. Koil St (Ward-28)

L.N.P. Koil St (Ward-28) guideline value

The current guideline value of L.N.P. Koil St (Ward-28) is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village under the Madhavaram SRO, classified as Residential Class III Type - I.

How the guideline value of L.N.P. Koil St (Ward-28) has changed

In the 2012 revision, the guideline value was Rs 1,200 per sq.ft. This figure decreased to Rs 804 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to the 2024 revision, the guideline value increased significantly to Rs 1,300 per sq.ft, reflecting a rise of 62% over that period. The overall change from 2012 to 2024 shows a slight increase of 8%.

The register has no figures for the years 2023, 2007, 2003, and 2002 for this street.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO, with guideline values 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, placing L.N.P. Koil St (Ward-28) below that median.

• Lingam st (Ward No.30): Rs 1,300 per sq.ft (2024)
• Logammal Nagar (Ward-08): Rs 1,300 per sq.ft (2024)
• Lotus Colony 1st St (Ward-11): Rs 3,000 per sq.ft (2024)
• Lotus Colony 2nd St (Ward-11): Rs 3,000 per sq.ft (2024)
• Lotus Colony 3rd St (Ward-11): Rs 3,000 per sq.ft (2024)
• Lotus Colony (Ward-11): Rs 3,000 per sq.ft (2024)

Stamp duty and registration fee for property in L.N.P. Koil St (Ward-28)

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 fees together 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 calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers L.N.P. Koil St (Ward-28)?

The Sub Registrar Office that covers L.N.P. Koil St (Ward-28) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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 registered, ensuring that the transaction is documented at a fair value.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. This ensures transparency in property transactions and helps in maintaining a standard across the real estate market in the area.

Frequently asked questions

What is the current guideline value of L.N.P. Koil St (Ward-28)?

The current guideline value of L.N.P. Koil St (Ward-28) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2012, the guideline value has seen fluctuations, starting at Rs 1,200 per sq.ft in 2012, dropping to Rs 804 per sq.ft in 2017, and then increasing to Rs 1,300 per sq.ft in 2024.

What is the land classification for L.N.P. Koil St (Ward-28)?

L.N.P. Koil St (Ward-28) is classified as Residential Class III Type - I under the Madhavaram SRO.

What are the stamp duty and registration fees for property transactions here?

For a property valued at Rs 13,00,000, the stamp duty is Rs 91,000, and the registration fee is Rs 26,000, totaling Rs 1,17,000.

Which office handles registrations for L.N.P. Koil St (Ward-28)?

The Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060, handles registrations for L.N.P. Koil St (Ward-28).