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 Ninna Karai village and falls under the Chengleput Joint II SRO with a land classification of Residential Class I Type - III.

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

Over the years, the guideline value of Madha Koil Street has seen several revisions. The earliest recorded figure is from 2012, which was Rs 600 per sq.ft. This was followed by a decrease to Rs 402 per sq.ft in 2017. However, the value increased significantly to Rs 600 per sq.ft in 2023, and further rose to Rs 660 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2017 to 2023, the increase was 49%, while the change from 2012 to 2017 showed a decline of 33%. Overall, from 2012 to 2024, there has been a 10% increase in the guideline value. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Ninna Karai

Ninna Karai village comprises 449 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 3,500 per sq.ft. The median guideline value in this village is Rs 1,100 per sq.ft, placing Madha Koil Street's 2024 figure below this median.

• Mahalakshmi Enclave: Rs 990 per sq.ft (2024)
• Maha Ngar Phase -1,2,3 (Pa): Rs 660 per sq.ft (2024)
• Main Street (Ward -8): Rs 1,321 per sq.ft (2024)
• Lakshmi Nagar (Pa): Rs 440 per sq.ft (2024)
• Malar Avenue (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 guideline value of Rs 660 per sq.ft, the total 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, bringing the total to Rs 59,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

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, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Ninna Karai. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When a property is sold, the guideline value is compared with the sale price, and the higher value is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

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 increased to Rs 600 per sq.ft in 2023, and finally to Rs 660 per sq.ft in 2024.

What is the median guideline value in Ninna Karai?

The median guideline value in Ninna Karai is Rs 1,100 per sq.ft, which is higher than the current value of Madha Koil Street.

What are the stamp duty and registration fees for a property in Madha Koil Street?

For a property valued at Rs 6,60,000, the stamp duty would be Rs 46,200 and the registration fee would be Rs 13,200, totaling Rs 59,400.

Which office handles property registrations for Madha Koil Street?

The Chengleput Joint II Sub Registrar Office handles property registrations for Madha Koil Street (Ward -18), located at 10, Kancheepuram Main Road, Chengalpattu 603 002.