Guideline Value for Madha Koil Street

Madha Koil Street guideline value

The current guideline value of Madha Koil Street is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Selaiyur village and falls under the Selaiyur SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Madha Koil Street has changed

The guideline value for Madha Koil Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which decreased to Rs 1,005 per sq.ft in the 2017 revision. This was a significant drop of 33%. However, the value rose sharply to Rs 1,500 per sq.ft in the 2023 revision, marking a 49% increase. The most recent 2024 revision has further increased the guideline value to Rs 1,600 per sq.ft, reflecting a 7% rise from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 7%.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 6,500 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value of Madha Koil Street is below this median.

• Madambakkam Camp Road: Rs 2,200 per sq.ft (2024)
• Madras Christian College: Rs 850 per sq.ft (2024)
• Madura Kavi Street: Rs 2,400 per sq.ft (2024)
• Mahadevan Nagar: Rs 850 per sq.ft (2024)
• LIC Colony: Rs 2,200 per sq.ft (2024)
• Leelavathy Nagar: Rs 2,900 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 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, leading to a total of Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Madha Koil Street?

The Sub Registrar Office that covers Madha Koil Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor when registering property transactions in Selaiyur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the registration fees and stamp duties are calculated fairly based on this established value.

When buying or selling property, it is crucial to be aware of the current guideline value, as it directly impacts the financial obligations associated with the transaction. Buyers and sellers should always refer to the latest revisions to ensure compliance with the registration process.

Frequently asked questions

What is the current guideline value of Madha Koil Street?

The current guideline value of Madha Koil Street is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,600 per sq.ft in 2024.

What is the land classification for Madha Koil Street?

Madha Koil Street is classified as Residential Class II Type - II, indicating its designation for residential use within the area.

What are the stamp duty rates for properties in Selaiyur?

The stamp duty for properties in Selaiyur is charged at a rate of 7% on the guideline value or the sale price, whichever is higher.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.