Guideline Value for MADURAIVEERAN KOIL STREET ANNEX

Maduraiveeran Koil Street Annex guideline value

The current guideline value of Maduraiveeran Koil Street Annex is Rs 1,870 per sq.ft. This street is located in Medavakkam village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Maduraiveeran Koil Street Annex has changed

The guideline value for Maduraiveeran Koil Street Annex has undergone several revisions over the years. The 2012 revision set the value at Rs 1,700 per sq.ft, which was then reduced to Rs 1,139 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 1,700 per sq.ft, and the most recent 2024 revision raised it further to Rs 1,870 per sq.ft.

In terms of percentage changes, the guideline value saw a decrease of 33% from 2012 to 2017. However, it increased by 49% from 2017 to 2023, and then by 10% from 2023 to 2024. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Medavakkam

In Medavakkam, there are 379 streets under the Chennai South Joint I SRO that have a 2024 guideline value ranging from Rs 1,540 to Rs 7,500 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value for Maduraiveeran Koil Street Annex is below this median.

• Madurai Veeran Koil Street: Rs 1,870 per sq.ft (2024)
• Madura Ranganathapuram: Rs 2,200 per sq.ft (2024)
• Madura Vadakku Pattu: Rs 2,750 per sq.ft (2024)
• Magastic Phase I: Rs 2,750 per sq.ft (2024)
• L.R. Avenue: Rs 2,200 per sq.ft (2024)
• Malles Ahaana: Rs 5,090 per sq.ft (2024)

Stamp duty and registration fee for property in Maduraiveeran Koil Street Annex

For a 1,000 sq.ft plot at the current guideline value of Rs 1,870 per sq.ft, the total guideline value would be Rs 18,70,000. The stamp duty at 7% would amount to Rs 1,30,900, and the registration fee at 2% would be Rs 37,400, leading to a total of Rs 1,68,300. It is important to note that 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 detailed calculations.

Which Sub Registrar Office covers Maduraiveeran Koil Street Annex?

The Sub Registrar Office that covers Maduraiveeran Koil Street Annex is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Medavakkam, as it determines the amount of stamp duty and registration fees that must be paid when buying or selling property. It serves as a benchmark for the minimum value at which properties can be registered.

When a property is sold, the guideline value is assessed, and the stamp duty is calculated based on this value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Maduraiveeran Koil Street Annex?

The current guideline value of Maduraiveeran Koil Street Annex is Rs 1,870 per sq.ft as per the 2024 revision.

How has the guideline value changed over the years?

The guideline value has seen several changes, starting from Rs 1,700 per sq.ft in 2012, decreasing to Rs 1,139 per sq.ft in 2017, and then increasing to Rs 1,700 per sq.ft in 2023, before reaching Rs 1,870 per sq.ft in 2024.

What is the land classification for Maduraiveeran Koil Street Annex?

The land classification for Maduraiveeran Koil Street Annex is Residential Class III Type - I.

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

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 1,68,300, which includes Rs 1,30,900 for stamp duty and Rs 37,400 for registration fees.

Which Sub Registrar Office covers this street?

The Chennai South Joint I Sub Registrar Office covers Maduraiveeran Koil Street Annex, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.