Guideline Value for MAGILAM POO STREET

Magilam Poo Street guideline value

The current guideline value of Magilam Poo Street is Rs 626 per sq.ft, effective from 1 July 2024. This street is located in Kakkalur village under the Tiruvallur Joint 1 SRO, classified as Residential Class II Type - III.

How the guideline value of Magilam Poo Street has changed

In the 2007 revision, the guideline value was Rs 200 per sq.ft. It increased significantly to Rs 625 per sq.ft in 2012, marking a 213% rise. However, between 2012 and 2017, there was a decrease of 33%, bringing the value down to Rs 419 per sq.ft. The value saw a notable increase of 49% from 2017 to 2023, reaching Rs 626 per sq.ft. The 2024 revision maintained this value at Rs 626 per sq.ft, showing no change from the previous year.

The register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 213%.

Guideline values in Kakkalur

Kakkalur village has a total of 133 streets under the Tiruvallur Joint 1 SRO, with 2024 guideline values ranging from Rs 400 to Rs 3,000 per sq.ft. The median guideline value is Rs 626 per sq.ft, which is the same as the current value for Magilam Poo Street.

• Maaveeran Durai Samy Nagar: Rs 626 per sq.ft (2024)
• Maligai Street: Rs 626 per sq.ft (2024)
• Manoranjitham Street: Rs 626 per sq.ft (2024)
• Mariannai Street: Rs 626 per sq.ft (2024)
• Kuvalai Malai Street: Rs 626 per sq.ft (2024)
• Kuruni Poo Street: Rs 626 per sq.ft (2024)

Stamp duty and registration fee for property in Magilam Poo Street

For a 1,000 sq.ft plot at the current rate of Rs 626 per sq.ft, the guideline value amounts to Rs 6,26,000. The stamp duty at 7% would be Rs 43,820, and the registration fee at 2% would be Rs 12,520, totaling Rs 56,340. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Magilam Poo Street?

The Sub Registrar Office covering Magilam Poo Street is the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Kakkalur, as it determines the base value for registration purposes. When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees, ensuring compliance with local regulations.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the overall cost of the transaction. Accurate knowledge of the guideline value helps in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Magilam Poo Street?

The current guideline value of Magilam Poo Street is Rs 626 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has experienced various changes, increasing from Rs 200 per sq.ft in 2007 to Rs 626 per sq.ft in 2024. The most significant change occurred between 2012 and 2017, where it decreased by 33% before rising again.

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

Several other streets in Kakkalur have the same guideline value of Rs 626 per sq.ft, including Maaveeran Durai Samy Nagar, Maligai Street, Manoranjitham Street, Mariannai Street, Kuvalai Malai Street, and Kuruni Poo Street.

What is the stamp duty for property in Magilam Poo Street?

The stamp duty for property in Magilam Poo Street is calculated at 7% of the guideline value. For a plot valued at Rs 6,26,000, the stamp duty would amount to Rs 43,820.

Which office do I need to visit for registration?

The registration for properties in Magilam Poo Street is handled by the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001.