Guideline Value for M.A.Koil 3rd Street

M.A.Koil 3rd Street guideline value

The current guideline value of M.A.Koil 3rd Street is Rs 1,950 per sq.ft, effective from 1 July 2024. This street is located in Ramapuram village and falls under the Chennai South Joint II SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of M.A.Koil 3rd Street has changed

The guideline value for M.A.Koil 3rd Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,750 per sq.ft, which was a decrease of 33% from the previous revision in 2017, where the value was Rs 1,172 per sq.ft. The 2023 revision increased the value to Rs 1,750 per sq.ft, and the most recent 2024 revision raised it further to Rs 1,950 per sq.ft, marking an 11% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for M.A.Koil 3rd Street. Overall, from 2012 to 2024, the guideline value has increased by 11%.

Guideline values in Ramapuram

In Ramapuram, there are 394 streets under the Chennai South Joint II SRO that carry a 2024 guideline value ranging from Rs 1,950 to Rs 6,600 per sq.ft, with a median value of Rs 3,100 per sq.ft. M.A.Koil 3rd Street's 2024 figure is below this median.

• Mahavishnu Street: Rs 3,100 per sq.ft (2024)
• Maha Vishnu Salai: Rs 3,100 per sq.ft (2024)
• Mahaver Garden: Rs 3,550 per sq.ft (2024)
• Mandaiveli Amman Kovil Street: Rs 2,750 per sq.ft (2024)
• Maharaja Garden: Rs 3,550 per sq.ft (2024)
• Mahalakshmi Nagar Main Road: Rs 3,100 per sq.ft (2024)

Stamp duty and registration fee for property in M.A.Koil 3rd Street

For a 1,000 sq.ft plot at the current rate of Rs 1,950 per sq.ft, the guideline value amounts to Rs 19,50,000. The stamp duty at 7% would be Rs 1,36,500, and the registration fee at 2% would be Rs 39,000, totaling Rs 1,75,500. 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 information.

Which Sub Registrar Office covers M.A.Koil 3rd Street?

The Sub Registrar Office that covers M.A.Koil 3rd Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035, Chennai registration zone.

To find your SRO, visit find your SRO.

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

The guideline value is a crucial factor when registering property transactions in Ramapuram. It serves as a benchmark for determining 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 property, the guideline value helps in calculating the stamp duty and registration fees, which are based on either the guideline value or the sale price, whichever is higher. This ensures transparency in property transactions within the region.

Frequently asked questions

What is the current guideline value of M.A.Koil 3rd Street?

The current guideline value of M.A.Koil 3rd Street is Rs 1,950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,750 per sq.ft in 2023 to Rs 1,950 per sq.ft in 2024. It was Rs 1,172 per sq.ft in 2017 and Rs 1,750 per sq.ft in 2012, showing various fluctuations over the years.

Which Sub Registrar Office covers M.A.Koil 3rd Street?

The Chennai South Joint II Sub Registrar Office covers M.A.Koil 3rd Street. It is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

What is the stamp duty for property in M.A.Koil 3rd Street?

The stamp duty for property in M.A.Koil 3rd Street is calculated at 7% of the guideline value. For a 1,000 sq.ft plot, this amounts to Rs 1,36,500.

What is the land classification for M.A.Koil 3rd Street?

The land classification for M.A.Koil 3rd Street is Residential Class III Type - I, indicating its designation for residential use within the area.