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 Sattamangalam village, 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 since 2012. The 2012 revision set the rate at Rs 600 per sq.ft, which then dropped to Rs 402 per sq.ft in 2017, marking a decrease of 33%. However, the value significantly increased to Rs 600 per sq.ft in the 2023 revision, and further rose to Rs 660 per sq.ft in the 2024 revision, reflecting an increase of 10% from the previous year.

From 2017 to 2023, the guideline value saw a substantial increase of 49%. Overall, comparing the 2012 and 2024 revisions, there has been a 10% increase in the guideline value, indicating fluctuations over the years. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Sattamangalam

In Sattamangalam, there are 425 streets under the Chengleput Joint II SRO that have a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft. The median guideline value in this area is Rs 1,100 per sq.ft, which means that Madha Koil Street's 2024 figure is below this 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 Avenue (N): Rs 660 per sq.ft (2024)
• K V Vines Nagar (Sa): Rs 660 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 rate of Rs 660 per sq.ft, the guideline value would be Rs 6,60,000. The stamp duty, charged at 7%, would amount to Rs 46,200, while the registration fee at 2% would be Rs 13,200, bringing the total to Rs 59,400. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

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

The Chengleput Joint II Sub Registrar Office covers Madha Koil Street (Ward -18). The office is 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 Sattamangalam

The guideline value is a crucial factor in the registration process when buying or selling property in Sattamangalam. It determines the minimum value at which a property transaction can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When a property is sold, the guideline value is compared with the sale price. The higher of the two values is used to calculate the stamp duty and registration fees, ensuring that both the buyer and seller comply with the legal requirements during the transaction.

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 seen several changes, from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then rising to Rs 600 per sq.ft in 2023 and finally to Rs 660 per sq.ft in 2024.

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 registrations for Madha Koil Street?

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

What is the land classification of Madha Koil Street?

Madha Koil Street is classified as Residential Class I Type - III, indicating its suitability for residential purposes.