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 661 per sq.ft, effective from 1 July 2024. This street is located in Peramanoor 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 has undergone several revisions over the years. The oldest recorded figure is from 2012, where the value was Rs 600 per sq.ft. In 2017, it decreased to Rs 402 per sq.ft, showing a decline of 33%. The value then increased significantly to Rs 600 per sq.ft in 2023, followed by a further rise to Rs 661 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2012 to 2024, the overall change in the guideline value is an increase of 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Peramanoor

In Peramanoor, there are 430 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 550 to Rs 2,200 per sq.ft. The median guideline value in this area is Rs 1,100 per sq.ft, placing Madha Koil Street's 2024 figure below this median.

• Maha Ngar Phase -1,2,3 (Pa): Rs 661 per sq.ft (2024)
• Main Street (Ward -8): Rs 1,320 per sq.ft (2024)
• Lakshmi Nagar (Pa): Rs 550 per sq.ft (2024)
• Malar Aveunue (N): Rs 661 per sq.ft (2024)
• K V Vines Nagar (Sa): Rs 550 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 661 per sq.ft, the total guideline value would be Rs 6,61,000. The stamp duty at 7% would amount to Rs 46,270, and the registration fee at 2% would be Rs 13,220, totaling Rs 59,490. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For further calculations, 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 information.

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

The guideline value is a crucial factor when buying or selling property in Peramanoor. It serves as the basis for calculating the stamp duty and registration fees that are payable during the transaction. Buyers and sellers must be aware that the guideline value may differ from the actual sale price, and the higher of the two will be used for calculating the applicable duties.

When registering a property, it is essential to refer to the latest guideline value to ensure compliance with local regulations. This value is periodically revised, reflecting changes in the real estate market and land classification.

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 661 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 661 per sq.ft in 2024.

What is the classification of Madha Koil Street?

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

Where can I find the Chengleput Joint II Sub Registrar Office?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Madha Koil Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 661 per sq.ft, the stamp duty would be Rs 46,270.