Guideline Value for Madha Koil Street

Madha Koil Street guideline value

The current guideline value of Madha Koil Street is Rs 330 per sq.ft, effective from 1 July 2024. This street is located in Siruniyam village under the Redhills SRO, classified as Residential Class II Type - I.

How the guideline value of Madha Koil Street has changed

The guideline value of Madha Koil Street has undergone several revisions over the years. The 2007 revision set the value at Rs 200 per sq.ft, which increased to Rs 300 per sq.ft in 2012. However, in 2017, the value dropped to Rs 201 per sq.ft before rising significantly to Rs 300 per sq.ft in 2023. The most recent revision in 2024 has brought the guideline value to Rs 330 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 65%. The register does not contain figures for the years 2002 and 2003 for this street.

Guideline values in Siruniyam

In Siruniyam, there are 32 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 220 to Rs 1,500 per sq.ft, with a median value of Rs 440 per sq.ft. The guideline value for Madha Koil Street is below this median.

• Muthukumaran Nagar Part-I: Rs 1,000 per sq.ft (2024)
• Muthukumaran Nagar Part II: Rs 1,000 per sq.ft (2024)
• Nagathamman Koil Street (Siruniyam Colony): Rs 220 per sq.ft (2024)
• Parthasarathy Nagar: Rs 825 per sq.ft (2024)
• Parthasarathy Nagar Annex: Rs 825 per sq.ft (2024)
• Grish Blue Diamond: Rs 825 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 330 per sq.ft, the total guideline value amounts to Rs 3,30,000. The stamp duty at 7% would be Rs 23,100, and the registration fee at 2% would be Rs 6,600, totaling Rs 29,700. It is important to note that the duty is charged on the higher of the guideline value and 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 Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

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

When a property is sold, the guideline value helps ensure that the transaction is recorded accurately and fairly. Buyers and sellers must be aware of the current guideline value to avoid any discrepancies in 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 330 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 2007 to Rs 330 per sq.ft in 2024, reflecting an overall increase of 65% over this period.

What is the stamp duty for property in Madha Koil Street?

The stamp duty for property in Madha Koil Street is 7% of the guideline value or the sale price, whichever is higher. For a 1,000 sq.ft plot, the stamp duty would amount to Rs 23,100.

Which office handles property registrations for Madha Koil Street?

The Redhills Sub Registrar Office handles property registrations for Madha Koil Street, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the land classification for Madha Koil Street?

Madha Koil Street is classified as Residential Class II Type - I, which is important for understanding the permissible uses of the land.