Guideline Value for MADHAKOVIL EAST 2nd LANE

MADHAKOVIL EAST 2nd LANE guideline value

The current guideline value of MADHAKOVIL EAST 2nd LANE is Rs 500 per sq.ft, effective from 1 July 2024. This street is located in Uthukottai village under the Oothukkottai SRO, classified as Residential Class I Type - I.

How the guideline value of MADHAKOVIL EAST 2nd LANE has changed

Over the years, the guideline value for MADHAKOVIL EAST 2nd LANE has undergone several revisions. The 2012 revision set the value at Rs 500 per sq.ft, which remained unchanged in the subsequent 2017 revision, where it was recorded at Rs 335 per sq.ft. The 2023 revision brought it back to Rs 500 per sq.ft, and the same value was retained in the 2024 revision, indicating a 49% increase from 2017 to 2023. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

From 2012 to 2017, the guideline value decreased by 33%, but from 2012 to 2024, there has been no overall change. The 2024 figure is consistent with the 2023 figure, showing a 0% change between these two revisions.

Guideline values in Uthukottai

In Uthukottai, there are 120 streets under the Oothukkottai SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 1,000 per sq.ft. The median value is Rs 500 per sq.ft, placing MADHAKOVIL EAST 2nd LANE at this median level.

• MADHAKOVIL EAST 1st 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 2nd LANE

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value amounts to Rs 5,00,000. The stamp duty at 7% would be Rs 35,000, and the registration fee at 2% would be Rs 10,000, resulting in a total of Rs 45,000. It is important to 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 information.

Which Sub Registrar Office covers MADHAKOVIL EAST 2nd LANE?

The Sub Registrar Office that covers MADHAKOVIL EAST 2nd LANE is 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 when registering property transactions in Uthukottai. It serves as a benchmark for determining the stamp duty and registration fees applicable to a property sale, ensuring compliance with local regulations.

When you buy or sell a property, the guideline value is used to calculate the required fees, which are based on either the guideline value or the sale price, whichever is higher. This ensures that the transaction is recorded accurately in the official registry.

Frequently asked questions

What is the current guideline value of MADHAKOVIL EAST 2nd LANE?

The current guideline value of MADHAKOVIL EAST 2nd 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 seen several revisions, with the most recent being Rs 500 per sq.ft in 2024 and 2023. There was a 49% increase from 2017 to 2023, while the value decreased by 33% from 2012 to 2017.

Which Sub Registrar Office covers MADHAKOVIL EAST 2nd LANE?

The Oothukkottai Sub Registrar Office covers MADHAKOVIL EAST 2nd LANE, located near the government hospital in Uthukottai, 602026, Chennai registration zone.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 5,00,000, the stamp duty would be Rs 35,000, and the registration fee would be Rs 10,000, totaling Rs 45,000. These fees are calculated based on the higher of the guideline value or the sale price.

What is the land classification of MADHAKOVIL EAST 2nd LANE?

MADHAKOVIL EAST 2nd LANE is classified as Residential Class I Type - I, indicating its suitability for residential development.