Guideline Value for MADHAKOVIL EAST 1st LANE

MADHAKOVIL EAST 1st LANE guideline value

The current guideline value for MADHAKOVIL EAST 1st LANE in Uthukottai village is Rs 500 per sq.ft, effective from 1 July 2024. This falls under the jurisdiction of the Oothukkottai SRO and is classified as Residential Class I Type - I.

How the guideline value of MADHAKOVIL EAST 1st LANE has changed

Over the years, the guideline value for MADHAKOVIL EAST 1st LANE has seen several revisions. The 2012 revision set the value at Rs 500 per sq.ft, which was then followed by a decrease to Rs 335 per sq.ft in 2017. However, from 2017 to 2023, the value increased significantly by 49%, bringing it back to Rs 500 per sq.ft. The 2024 revision maintains this rate, showing no change from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street. Therefore, the revisions we have are from 2012, 2017, 2023, and the current 2024 figure.

Guideline values in Uthukottai

In Uthukottai, there are 120 streets under the Oothukkottai SRO that carry a guideline value for 2024, ranging from Rs 200 to Rs 1,000 per sq.ft. The median value is Rs 500 per sq.ft, which is equal to the current guideline value of MADHAKOVIL EAST 1st LANE.

• MADHAKOVIL EAST 2nd LANE: Rs 500 per sq.ft (2024)
• Madhakovil Main Street: Rs 500 per sq.ft (2024)
• Madhakovil West Lane: Rs 500 per sq.ft (2024)
• K.V.D.Nagar: Rs 500 per sq.ft (2024)
• Kumari Theater Street: Rs 500 per sq.ft (2024)
• Matha Mandapam Street: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in MADHAKOVIL EAST 1st LANE

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value would be Rs 5,00,000. The stamp duty at 7% would amount to Rs 35,000, and the registration fee at 2% would be Rs 10,000, totaling Rs 45,000. 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 MADHAKOVIL EAST 1st LANE?

The MADHAKOVIL EAST 1st LANE falls under the Oothukkottai Sub Registrar Office, located near the government hospital in Uthukottai, 602026, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of property in Uthukottai. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property. The guideline value reflects the minimum value at which the property can be registered.

When a property is sold, the sale price and the guideline value are compared. The higher of the two is used to calculate the applicable duties and fees, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of MADHAKOVIL EAST 1st LANE?

The current guideline value of MADHAKOVIL EAST 1st LANE is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2012 to Rs 335 per sq.ft in 2017, then back to Rs 500 per sq.ft in 2023 and remains the same in 2024.

What is the land classification for MADHAKOVIL EAST 1st LANE?

MADHAKOVIL EAST 1st LANE is classified as Residential Class I Type - I.

Where is the Oothukkottai Sub Registrar Office located?

The Oothukkottai Sub Registrar Office is located near the government hospital in Uthukottai, 602026, Chennai registration zone.

How is stamp duty calculated for properties in Uthukottai?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. The current rate is 7% for stamp duty and 2% for the registration fee.