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 Panangottur village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Class I Type - III.

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

The guideline value for Madha Koil Street has undergone several revisions over the years. 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, representing a decline of 33%. The value then increased significantly to Rs 600 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 has set the guideline value at Rs 660 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, comparing the figures from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Panangottur

In Panangottur, there are 419 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 2,200 per sq.ft. The median guideline value in this village is Rs 990 per sq.ft, placing Madha Koil Street's 2024 figure below that median.

• 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)
• Mamarathu Gate Union Road (Per): Rs 990 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, while the registration fee at 2% would be Rs 13,200, making the total cost for these fees Rs 59,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more detailed calculations.

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

The Sub Registrar Office covering 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 information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Panangottur. It is used to determine the stamp duty and registration fees that must be paid during the transaction. Buyers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

Understanding the guideline value is essential for both buyers and sellers, as it ensures compliance with local regulations and helps in estimating the total cost involved in property transactions. It is advisable to check the most current guideline values before proceeding with any property dealings.

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 Panangottur?

The median guideline value in Panangottur is Rs 990 per sq.ft, with Madha Koil Street's current value being below this median.

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

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees amount to Rs 59,400, calculated based on the guideline value of Rs 6,60,000.

Which office handles the registration for Madha Koil Street?

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