Guideline Value for Madha Koil Street Nedunsalai

Madha Koil Street Nedunsalai guideline value

The current guideline value of Madha Koil Street Nedunsalai is Rs 300 per sq.ft, effective from 1 July 2024. This street is located in Mevaloorkuppam B village, under the jurisdiction of the Sriperumpudur SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Madha Koil Street Nedunsalai has changed

The guideline value for Madha Koil Street Nedunsalai has undergone several revisions over the years. The oldest available figure is from the 2017 revision, which was Rs 201 per sq.ft. In the subsequent 2023 revision, the value remained unchanged at Rs 300 per sq.ft. The latest revision in 2024 also maintains this figure at Rs 300 per sq.ft, indicating no percentage change from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 49%. However, there are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street.

Guideline values in Mevaloorkuppam B

In Mevaloorkuppam B, there are 84 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 6,200 per sq.ft. The median value for these streets is Rs 400 per sq.ft, placing the guideline value of Madha Koil Street Nedunsalai below this median.

• Manthoppu Street: Rs 100 per sq.ft (2024)
• Kulanthaivelu Nagar: Rs 100 per sq.ft (2024)
• Kulakkarai Street: Rs 700 per sq.ft (2024)
• Mayana Salai: Rs 100 per sq.ft (2024)
• Mekkar Street: Rs 300 per sq.ft (2024)
• Mettu Street: Rs 100 per sq.ft (2024)

Stamp duty and registration fee for property in Madha Koil Street Nedunsalai

For a 1,000 sq.ft plot at the current guideline value of Rs 300 per sq.ft, the total guideline value would be Rs 3,00,000. The stamp duty at 7% would amount to Rs 21,000, and the registration fee at 2% would be Rs 6,000, bringing the total cost for these fees to Rs 27,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more accurate calculations based on your specific property details.

Which Sub Registrar Office covers Madha Koil Street Nedunsalai?

The Sub Registrar Office that covers Madha Koil Street Nedunsalai is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. For more information, you can find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Mevaloorkuppam B. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When you register a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Madha Koil Street Nedunsalai?

The current guideline value of Madha Koil Street Nedunsalai is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 300 per sq.ft from 2023 to 2024. It increased from Rs 201 per sq.ft in 2017 to Rs 300 per sq.ft in 2023, marking a 49% increase overall from 2017 to 2024.

What is the median guideline value in Mevaloorkuppam B?

The median guideline value for streets in Mevaloorkuppam B is Rs 400 per sq.ft, which is higher than the current value of Madha Koil Street Nedunsalai.

What are the stamp duty rates applicable?

The stamp duty for property transactions is charged at 7% of the guideline value or sale price, whichever is higher. The registration fee is charged at 2% of the same amount.

Where can I find the Sub Registrar Office for Madha Koil Street Nedunsalai?

The Sub Registrar Office covering Madha Koil Street Nedunsalai is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.