Guideline Value for Madha Koil Street

Madha Koil Street guideline value

The current guideline value of Madha Koil Street in Nemili village is Rs 210 per sq.ft, effective from 1 July 2024. This street falls under the Sriperumpudur SRO and is classified as Residential Class III Type - I.

How the guideline value of Madha Koil Street has changed

The guideline value for Madha Koil Street has undergone several revisions over the years. The 2012 revision set the value at Rs 200 per sq.ft, which was then reduced to Rs 134 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 200 per sq.ft, and the latest 2024 revision has raised it to Rs 210 per sq.ft, marking a 5% increase from the previous year.

From the 2017 revision to 2023, there was a significant increase of 49%. Overall, comparing the 2012 revision to the 2024 revision, the guideline value has seen a modest increase of 5%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Nemili

In Nemili, there are 66 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 150 to Rs 1,000 per sq.ft, with a median value of Rs 250 per sq.ft. Madha Koil Street's current guideline value of Rs 210 per sq.ft is below this median.

• Lucky Land: Rs 250 per sq.ft (2024)
• Lakshmi Amman Koil Street: Rs 250 per sq.ft (2024)
• Manasa Devi Nagar: Rs 250 per sq.ft (2024)
• Kumaran Street: Rs 210 per sq.ft (2024)
• Marshal Share: Rs 300 per sq.ft (2024)
• Marthamman Koil Street: Rs 210 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 210 per sq.ft, the total guideline value amounts to Rs 2,10,000. The stamp duty at 7% would be Rs 14,700, and the registration fee at 2% would be Rs 4,200, bringing the total to Rs 18,900. It is important to note that the 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 Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

When buying or selling property in Nemili, the guideline value plays a crucial role in determining the stamp duty and registration fees. The guideline value is used as a benchmark for calculating these fees, ensuring that they are based on official valuations rather than fluctuating market prices.

At the time of property registration, the buyer must pay the stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. 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?

The current guideline value of Madha Koil Street is Rs 210 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2012 to Rs 134 per sq.ft in 2017, then to Rs 200 per sq.ft in 2023, and finally to Rs 210 per sq.ft in 2024.

What is the land classification of Madha Koil Street?

Madha Koil Street is classified as Residential Class III Type - I.

What are the stamp duty and registration fees for Madha Koil Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 2,10,000, resulting in a stamp duty of Rs 14,700 and a registration fee of Rs 4,200, totaling Rs 18,900.

Which Sub Registrar Office covers this area?

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