Guideline Value for Madha Koil Street

Madha Koil Street guideline value

The current guideline value of Madha Koil Street is Rs 750 per sq.ft, effective from 1 July 2024. This street is located in Vallam village and falls under the Chengleput Joint I SRO with a land classification of Residential Class III Type - I.

How the guideline value of Madha Koil Street has changed

Over the years, the guideline value for Madha Koil Street has seen several revisions. The earliest recorded figure is from 2007, where the guideline value was Rs 173 per sq.ft. This value increased significantly to Rs 750 per sq.ft in 2012, marking a substantial rise of 334%. However, in the subsequent revision in 2017, the value decreased to Rs 502 per sq.ft, a drop of 33%. The value then rose again to Rs 750 per sq.ft in 2023, remaining unchanged in the 2024 revision.

From 2017 to 2023, there was an increase of 49%, bringing the value back to Rs 750 per sq.ft. The overall change from 2007 to 2024 reflects an increase of 334%. Notably, the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Vallam

In Vallam, there are 30 streets under the Chengleput Joint I SRO that carry a 2024 guideline value ranging from Rs 750 to Rs 1,000 per sq.ft. The median guideline value in the village is Rs 1,000 per sq.ft, placing Madha Koil Street's 2024 figure below this median.

• Mariamman Koil Street: Rs 750 per sq.ft (2024)
• Muthamizh Nagar: Rs 1,000 per sq.ft (2024)
• Kamaraj Nagar: Rs 850 per sq.ft (2024)
• Narayana Avenue: Rs 1,000 per sq.ft (2024)
• Nehru Nagar: Rs 1,000 per sq.ft (2024)
• Pandian Nagar: Rs 1,000 per sq.ft (2024)

Stamp duty and registration fee for property in Madha Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 750 per sq.ft, the total guideline value amounts to Rs 7,50,000. The stamp duty at 7% would be Rs 52,500, and the registration fee at 2% would be Rs 15,000, bringing the total cost for these fees to Rs 67,500. 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 details.

Which Sub Registrar Office covers Madha Koil Street?

The Sub Registrar Office that covers Madha Koil Street is the Chengleput Joint I Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor when registering property transactions in Vallam. It serves as a benchmark for determining the stamp duty and registration fees that buyers and sellers must pay. The guideline value is used to ensure that the property is registered at a fair value, reflecting its market worth.

When you buy or sell property, the guideline value will be compared to the sale price, with the higher of the two being used to calculate the applicable duties and fees. This process helps maintain transparency and standardization in real estate transactions.

Frequently asked questions

What is the current guideline value of Madha Koil Street?

The current guideline value of Madha Koil Street is Rs 750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 173 per sq.ft in 2007, rising to Rs 750 per sq.ft in 2012, dropping to Rs 502 per sq.ft in 2017, and then returning to Rs 750 per sq.ft in 2023 and 2024.

What is the land classification of Madha Koil Street?

Madha Koil Street is classified as Residential Class III Type - I, which indicates its intended use for residential purposes.

How does the guideline value affect property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It ensures that the property is registered at a value that reflects its market worth.

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

The Sub Registrar Office for Madha Koil Street is the Chengleput Joint I Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.