Guideline Value for Madha Koil Street

Madha Koil Street guideline value

The current guideline value of Madha Koil Street is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Pammal village, under the Pammal SRO, and is classified as Residential Class II Type - II.

How the guideline value of Madha Koil Street has changed

The guideline value for Madha Koil Street has seen significant changes over the years. In 2002, the value was Rs 187 per sq.ft, which increased to Rs 212 per sq.ft in 2003, marking a change of +13%. The value then rose to Rs 360 per sq.ft in 2007, representing a +70% increase. By 2017, the guideline value reached Rs 1,206 per sq.ft, a substantial increase of +235%. The 2023 revision set the value at Rs 1,800 per sq.ft, which was a +49% rise from the previous revision. The latest revision in 2024 has increased the value to Rs 1,980 per sq.ft, showing a +10% change from 2023. There is no figure available for the 2012 revision for this street.

Overall, from 2002 to 2024, the guideline value has increased by +959%, reflecting the changes in the property landscape over the years.

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 2,090 per sq.ft, indicating that Madha Koil Street's 2024 value is below this median.

• Madavi Street / Muthamzhi Nagar: Rs 2,475 per sq.ft (2024)
• Madhakoil Street, Nagelkeni: Rs 1,980 per sq.ft (2024)
• Maamalan Street: Rs 1,760 per sq.ft (2024)
• Lurthu Madha Street, Nagelkeni: Rs 1,980 per sq.ft (2024)
• Lurth Madha Street: Rs 1,980 per sq.ft (2024)
• Madhavan Nair Cross Street, Krishna Nagar: Rs 2,530 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 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, leading to a total of Rs 1,78,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Madha Koil Street?

The Sub Registrar Office that covers Madha Koil Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Pammal. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the registration process. This value is set by the government and is updated periodically to reflect changes in the real estate market.

When a property is sold, the buyer and seller must consider the guideline value to ensure that the transaction is registered correctly. The registration office uses this value to calculate the applicable fees, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Madha Koil Street?

The current guideline value of Madha Koil Street is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 187 per sq.ft in 2002 to Rs 1,980 per sq.ft in 2024, marking an overall increase of +959% over the years.

What is the median guideline value for streets in Pammal?

The median guideline value for the 926 streets in Pammal is Rs 2,090 per sq.ft, which indicates that Madha Koil Street's value is below this median.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is charged at 2%. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 1,78,200.

Where is the Sub Registrar Office for Madha Koil Street located?

The Sub Registrar Office for Madha Koil Street is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.