Guideline Value for MADHA KOIL STREET

Madha Koil Street guideline value

The current guideline value of Madha Koil Street is Rs 3,800 per sq.ft, effective from 1 July 2024. This street is located in Puliyur village, under the Kodambakkam SRO, and is classified as Residential Class IV Type - III.

How the guideline value of Madha Koil Street has changed

The guideline value for Madha Koil Street has undergone several revisions over the years. In 2002, the value was Rs 553 per sq.ft, which increased to Rs 608 per sq.ft in 2003. Following this, the value rose significantly to Rs 900 per sq.ft in 2007, and then to Rs 3,500 per sq.ft in 2012. However, it decreased to Rs 2,345 per sq.ft in 2017. The value then increased to Rs 3,500 per sq.ft in 2023 before reaching the current value of Rs 3,800 per sq.ft in 2024.

From 2017 to 2023, there was a notable increase of 49%. The value saw a significant drop of 33% from 2012 to 2017. The increase from 2007 to 2012 was substantial at 289%, and there was a 48% rise from 2003 to 2007. Overall, from 2002 to 2024, the guideline value has increased by 587%. The register has no figure for the years not mentioned in the revisions.

Guideline values in Puliyur

In Puliyur, there are 648 streets under the Kodambakkam SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 14,300 per sq.ft, with a median value of Rs 5,800 per sq.ft. Madha Koil Street's 2024 guideline value is below this median.

• Loganathan Puram: Rs 3,300 per sq.ft (2024)
• Loganathan Nagar 3rd Street: Rs 6,300 per sq.ft (2024)
• Loganathan Nagar 2nd Street: Rs 6,300 per sq.ft (2024)
• Loganathan Nagar 1st Street: Rs 6,300 per sq.ft (2024)
• Lic Colony: Rs 4,600 per sq.ft (2024)
• Lakshmipuram Main Road: Rs 5,000 per sq.ft (2024)

Stamp duty and registration fee for property in Madha Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,800 per sq.ft, the total guideline value amounts to Rs 38,00,000. The stamp duty at 7% would be Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, bringing the total fees to Rs 3,42,000. Please note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Madha Koil Street?

The Sub Registrar Office that covers Madha Koil Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Puliyur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

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

Frequently asked questions

What is the current guideline value of Madha Koil Street?

The current guideline value of Madha Koil Street is Rs 3,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 553 per sq.ft in 2002 to Rs 3,800 per sq.ft in 2024, reflecting a significant overall increase of 587%.

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

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot, the total fees would amount to Rs 3,42,000.

Which office handles property registrations for Madha Koil Street?

The Kodambakkam Sub Registrar Office handles property registrations for Madha Koil Street, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

What is the land classification of Madha Koil Street?

Madha Koil Street is classified as Residential Class IV Type - III, indicating its designation for residential use within the area.