Guideline Value for MADHAVA PERUMAL KOIL STREET

Madhava Perumal Koil Street guideline value

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

How the guideline value of Madhava Perumal Koil Street has changed

The guideline value for Madhava Perumal Koil Street has seen significant changes over the years. In 2002, the value was Rs 872 per sq.ft, which increased to Rs 969 per sq.ft in 2003, marking an increase of 11%. The value then rose to Rs 1,540 per sq.ft in 2007, reflecting a 59% increase. Following that, there was a substantial jump to Rs 8,000 per sq.ft in 2012, a remarkable 419% increase. The value remained unchanged at Rs 8,000 per sq.ft until 2023.

In 2023, the guideline value was revised to Rs 8,000 per sq.ft, and then it increased to Rs 8,800 per sq.ft in 2024, representing a 10% increase. Notably, there is no figure available for the 2017 revision for this street in the register. Overall, from 2002 to 2024, the guideline value has increased by 909%.

Guideline values in Mylapore

In Mylapore, there are 883 streets under the Mylapore SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median value is Rs 8,800 per sq.ft, which is equal to the current guideline value of Madhava Perumal Koil Street.

• Madhava Perumal Koil 2nd Lane: Rs 8,800 per sq.ft (2024)
• MADHAVA PERUMAL KOIL 1ST LANE (G.N.Chetty Street): Rs 8,800 per sq.ft (2024)
• Madhavan Nagar 2nd Street: Rs 8,800 per sq.ft (2024)
• Madhavan Nagar 1st Street: Rs 8,800 per sq.ft (2024)
• Madhana Gopal 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 Madhava Perumal Koil Street

For a 1,000 sq.ft plot at the current guideline value, the total guideline value would be Rs 88,00,000. The stamp duty at 7% would amount to Rs 6,16,000, and the registration fee at 2% would be Rs 1,76,000, resulting in a total of 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 Madhava Perumal Koil Street?

The Sub Registrar Office that covers Madhava Perumal Koil 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 additional information.

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

The guideline value plays a crucial role during the registration process when buying or selling property in Mylapore. It is used to determine the stamp duty and registration fees that need to be paid, ensuring that all transactions are in compliance with the local regulations.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two 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 Madhava Perumal Koil Street?

The current guideline value of Madhava Perumal Koil 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 significantly from Rs 872 per sq.ft in 2002 to Rs 8,800 per sq.ft in 2024, representing an overall increase of 909%.

What is the land classification for Madhava Perumal Koil Street?

The land classification for Madhava Perumal Koil Street is Residential Class III Type - III.

Where can I find the Mylapore Sub Registrar Office?

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

How is stamp duty calculated for properties in Mylapore?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, at the current guideline value of Rs 88,00,000, the stamp duty would be Rs 6,16,000 at 7%.