Guideline Value for MADHANA GOPAL STREET

Madhana Gopal Street guideline value

The current guideline value of Madhana Gopal Street is Rs 8,800 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village, which falls under the Mylapore SRO. The land classification for this area is Residential Class III Type - III.

How the guideline value of Madhana Gopal Street has changed

The guideline value for Madhana Gopal Street has seen significant changes over the years. The earliest recorded figure is from 2002, which was Rs 988 per sq.ft. This rose to Rs 1,098 per sq.ft in 2003, marking an increase of 11%. Following this, in 2007, the value surged to Rs 1,540 per sq.ft, a 40% rise from the previous figure. The 2012 revision maintained the value at Rs 8,000 per sq.ft, showing no change from 2012 to 2023. In 2023, the guideline value was again set at Rs 8,000 per sq.ft, and the latest revision in 2024 has increased it to Rs 8,800 per sq.ft, reflecting a 10% increase.

Notably, there was no figure recorded for Madhana Gopal Street in the 2017 revision. Overall, from 2002 to 2024, the guideline value has increased by 791%, highlighting the substantial changes in this area over the years.

Guideline values in Mylapore

Mylapore village features a range of guideline values across its 883 streets, with the 2024 figures ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median guideline value is Rs 8,800 per sq.ft, which aligns with the current value of Madhana Gopal Street.

• Madhavan Nagar 1st Street: Rs 8,800 per sq.ft (2024)
• Madhavan Nagar 2nd Street: Rs 8,800 per sq.ft (2024)
• Madhava Perumal Koil 1st Lane (G.N.Chetty Street): Rs 8,800 per sq.ft (2024)
• Madhava Perumal Koil 2nd Lane: Rs 8,800 per sq.ft (2024)
• Madhava Perumal Koil Street: Rs 8,800 per sq.ft (2024)
• Madha Church Road: Rs 8,800 per sq.ft (2024)

Stamp duty and registration fee for property in Madhana Gopal Street

For a 1,000 sq.ft plot at the current guideline value of Rs 8,800 per sq.ft, the total guideline value would be Rs 88,00,000. The stamp duty at 7% would be Rs 6,16,000, and the registration fee at 2% would be Rs 1,76,000. Together, these costs would amount to Rs 7,92,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Madhana Gopal Street?

The Sub Registrar Office that covers Madhana Gopal Street is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Mylapore. When buying or selling property, the guideline value serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. It ensures that the government receives the appropriate revenue from property sales.

During the registration process, the buyer and seller must declare the sale price, and the duty is charged on the higher of the guideline value or the sale price. This practice helps maintain transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Madhana Gopal Street?

The current guideline value of Madhana Gopal Street is Rs 8,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 988 per sq.ft in 2002 to Rs 8,800 per sq.ft in 2024, marking an overall increase of 791% over the years.

What is the stamp duty for properties on Madhana Gopal Street?

The stamp duty for properties on Madhana Gopal Street is 7% of the guideline value or sale price, whichever is higher.

Where is the nearest Sub Registrar Office?

The nearest Sub Registrar Office for Madhana Gopal Street is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.

What are the other streets in Mylapore with the same guideline value?

Other streets in Mylapore that share the same guideline value of Rs 8,800 per sq.ft include Madhavan Nagar 1st Street, Madhavan Nagar 2nd Street, Madhava Perumal Koil 1st Lane, Madhava Perumal Koil 2nd Lane, Madhava Perumal Koil Street, and Madha Church Road.