Guideline Value for MADHA CHURCH ROAD

Madha Church Road guideline value

The current guideline value of Madha Church Road is Rs 8,800 per sq.ft, effective from 1 July 2024. This road is located in Mylapore village, under the Mylapore SRO, and is classified as Residential Class III Type - III.

How the guideline value of Madha Church Road has changed

The guideline value for Madha Church Road has seen significant changes over the years. The earliest recorded figure is from 2002, which was Rs 994 per sq.ft. This value increased to Rs 1,104 per sq.ft in 2003, marking an 11% rise. In 2007, the value jumped to Rs 1,540 per sq.ft, reflecting a 39% increase from the previous revision. The 2012 revision saw a substantial increase to Rs 8,000 per sq.ft, which is a remarkable 419% rise from 2007.

With the latest revision in 2024, the guideline value reached Rs 8,800 per sq.ft, representing a 10% increase from the 2012 figure. Overall, from 2002 to 2024, the guideline value has increased by 785%. Notably, there are no figures for the years 2017 and 2023 for this street.

Guideline values in Mylapore

In Mylapore, there are 883 streets under the Mylapore SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median guideline value is Rs 8,800 per sq.ft, which is equal to the current value of Madha Church Road.

• Madhana Gopal Street: Rs 8,800 per sq.ft (2024)
• Madhavan Nagar 1st Street: Rs 8,800 per sq.ft (2024)
• Madhavan Nagar 2nd Street: Rs 8,800 per sq.ft (2024)
• Madhava Perumal Koil 1st Lane (G.N.Chetty Street): Rs 8,800 per sq.ft (2024)
• Madhava Perumal Koil 2nd Lane: Rs 8,800 per sq.ft (2024)
• Madhava Perumal Koil Street: Rs 8,800 per sq.ft (2024)

Stamp duty and registration fee for property in Madha Church Road

For a 1,000 sq.ft plot at the current guideline value of Rs 8,800 per sq.ft, the total guideline value amounts to Rs 88,00,000. The stamp duty at 7% would be Rs 6,16,000, and the registration fee at 2% would be Rs 1,76,000, bringing the total cost for these fees to Rs 7,92,000. It is important to note that the 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 Madha Church Road?

The Sub Registrar Office that covers Madha Church Road is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Mylapore. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees applicable to the transaction. This ensures that the fees are calculated based on an official valuation rather than the sale price alone.

Additionally, the guideline value is important for buyers and sellers to understand the official valuation of properties in the area. It provides a benchmark for property transactions and helps in ensuring transparency in the registration process.

Frequently asked questions

What is the current guideline value of Madha Church Road?

The current guideline value of Madha Church Road is Rs 8,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2002, the guideline value has increased from Rs 994 per sq.ft to Rs 8,800 per sq.ft in 2024, marking an overall increase of 785% over the years.

What are the other streets with the same guideline value in Mylapore?

Other streets in Mylapore with the same guideline value of Rs 8,800 per sq.ft include Madhana Gopal Street, Madhavan Nagar 1st Street, Madhavan Nagar 2nd Street, Madhava Perumal Koil 1st Lane, Madhava Perumal Koil 2nd Lane, and Madhava Perumal Koil Street.

What fees are associated with buying property on Madha Church Road?

When purchasing property on Madha Church Road, buyers should expect to pay stamp duty at 7% and a registration fee at 2% of the guideline value. For example, a 1,000 sq.ft plot would incur a total fee of Rs 7,92,000.

Where can I find the Sub Registrar Office for Madha Church Road?

The Mylapore Sub Registrar Office covers Madha Church Road and is located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018.