Guideline Value for MAVADI VINAYAGAR KOIL STREET

Mavadi Vinayagar Koil Street guideline value

The current guideline value of Mavadi Vinayagar Koil Street is Rs 7,100 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village, under the Mylapore SRO, and is classified as Residential Class IV Type - III.

How the guideline value of Mavadi Vinayagar Koil Street has changed

Over the years, the guideline value for Mavadi Vinayagar Koil Street has seen significant changes. The 2007 revision recorded a guideline value of Rs 900 per sq.ft, which surged to Rs 6,500 per sq.ft in both the 2012 and 2023 revisions. The most recent revision in 2024 shows a further increase to Rs 7,100 per sq.ft, marking a 9% rise from the previous year.

Notably, there are no figures available for the revisions in 2002, 2003, and 2017 for this street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 689%.

Guideline values in Mylapore

In Mylapore village, 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 guideline value for these streets is Rs 8,800 per sq.ft, which means Mavadi Vinayagar Koil Street's 2024 figure is below this median.

• Mayandi Colony 1st Street: Rs 3,300 per sq.ft (2024)
• Mayandi Colony 2nd Street: Rs 3,300 per sq.ft (2024)
• Mayandi Colony 3rd Street: Rs 3,300 per sq.ft (2024)
• Mayandi Colony 4th Street: Rs 3,300 per sq.ft (2024)
• Mayor Ramanathan Street: Rs 8,800 per sq.ft (2024)
• Mathala Narayanan Street: Rs 11,500 per sq.ft (2024)

Stamp duty and registration fee for property in Mavadi Vinayagar Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total guideline value would be Rs 71,00,000. The stamp duty at 7% would amount to Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000, bringing the total to Rs 6,39,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mavadi Vinayagar Koil Street?

The Mavadi Vinayagar Koil Street falls under the jurisdiction of the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during the registration of property transactions in Mylapore. It serves as a benchmark for calculating the stamp duty and registration fees that are payable to the government during the sale or purchase of property.

When a property is sold or purchased, the guideline value is used to determine the minimum value on which stamp duty is calculated. This ensures that the government receives the appropriate revenue from property transactions based on the official valuation of the property.

Frequently asked questions

What is the current guideline value of Mavadi Vinayagar Koil Street?

The current guideline value of Mavadi Vinayagar Koil Street is Rs 7,100 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 900 per sq.ft in 2007 to Rs 7,100 per sq.ft in 2024, showing a total increase of 689% over the years.

What is the land classification for Mavadi Vinayagar Koil Street?

Mavadi Vinayagar Koil Street is classified as Residential Class IV Type - III.

What is the registration office for Mavadi Vinayagar Koil Street?

The registration office covering Mavadi Vinayagar Koil Street is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018.

How is the stamp duty calculated for properties in Mavadi Vinayagar Koil Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 71,00,000, the stamp duty would be Rs 4,97,000 at a rate of 7%.