Guideline Value for MADHA KOIL STREET (WARD -18)

Madha Koil Street (Ward -18) guideline value

The current guideline value of Madha Koil Street (Ward -18) is Rs 660 per sq.ft, effective from 1 July 2024. This street is located in Kattankollatur village and falls under the Chengleput Joint II SRO, classified as Residential Class I Type - III.

How the guideline value of Madha Koil Street (Ward -18) has changed

The guideline value for Madha Koil Street (Ward -18) has undergone several revisions over the years. The 2012 revision set the value at Rs 600 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 402 per sq.ft, marking a decrease of 33%. The subsequent 2023 revision saw a significant increase to Rs 600 per sq.ft, followed by the latest 2024 revision which raised it to Rs 660 per sq.ft, reflecting a 10% increase from the previous year.

From the 2017 revision to 2023, there was a notable increase of 49%. Overall, comparing the 2012 revision to the current 2024 figure, the guideline value has increased by 10%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Kattankollatur

In Kattankollatur, there are 453 streets under the Chengleput Joint II SRO that have a 2024 guideline value ranging from Rs 440 to Rs 3,612 per sq.ft. The median guideline value in the village is Rs 1,100 per sq.ft, making the current value of Madha Koil Street (Ward -18) below that median.

• Lingeswaran Nagar: Rs 1,980 per sq.ft (2024)
• Maha Ngar Phase -1,2,3 (Pa): Rs 660 per sq.ft (2024)
• Main Street (Ward -8): Rs 1,320 per sq.ft (2024)
• Lakshmi Nagar (Pa): Rs 440 per sq.ft (2024)
• Malar Aveunue (N): Rs 660 per sq.ft (2024)
• K V Vines Nagar (Sa): Rs 440 per sq.ft (2024)

Stamp duty and registration fee for property in Madha Koil Street (Ward -18)

For a 1,000 sq.ft plot at the current rate of Rs 660 per sq.ft, the guideline value amounts to Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, and the registration fee at 2% would be Rs 13,200, totaling Rs 59,400. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Madha Koil Street (Ward -18)?

The Sub Registrar Office that covers Madha Koil Street (Ward -18) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Kattankollatur. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing a property. This value is set by the government and can vary from one street to another within the same village.

When selling a property, the guideline value is also important as it helps establish a baseline for the sale price. Buyers and sellers should be aware of the current guideline value to ensure that they are compliant with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of Madha Koil Street (Ward -18)?

The current guideline value of Madha Koil Street (Ward -18) is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then back to Rs 600 per sq.ft in 2023, and finally to Rs 660 per sq.ft in 2024.

What is the land classification for Madha Koil Street?

Madha Koil Street is classified as Residential Class I Type - III under the Chengleput Joint II SRO.

How does the guideline value compare to other streets in Kattankollatur?

The guideline value of Rs 660 per sq.ft for Madha Koil Street is below the median value of Rs 1,100 per sq.ft in Kattankollatur. Other streets in the area have varying rates, with some higher and some lower.

Where can I find the Sub Registrar Office for Madha Koil Street?

The Sub Registrar Office for Madha Koil Street is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.