Guideline Value for Madha Koil Street

Madha Koil Street guideline value

The current guideline value of Madha Koil Street in Tondaiarpet village, under the Royapuram SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class I 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 earliest recorded revision is from 2007, where the guideline value was Rs 900 per sq.ft. This increased significantly to Rs 2,000 per sq.ft in 2012, marking a rise of 122%. However, from 2012 to 2017, the value decreased to Rs 1,340 per sq.ft, a drop of 33%. The subsequent revision in 2017 saw a substantial increase to Rs 2,000 per sq.ft in 2023, representing a 49% rise. The most recent revision in 2024 has set the guideline value at Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no recorded figures for Madha Koil Street in the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 144%.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO, with the 2024 guideline values ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median guideline value for these streets is Rs 1,600 per sq.ft, positioning Madha Koil Street's current value above this median.

• Lotus Ramasamy Street: Rs 3,800 per sq.ft (2024)
• Limekiln Road (Sunnambu Kaalvai Road): Rs 1,300 per sq.ft (2024)
• Lal Bhadur Sastri Nagar: Rs 1,300 per sq.ft (2024)
• Manali Road: Rs 2,200 per sq.ft (2024)
• Manigandan 1st Street: Rs 2,200 per sq.ft (2024)
• Manigandan 2nd Street: Rs 2,200 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 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is essential 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 detailed calculations.

Which Sub Registrar Office covers Madha Koil Street?

The Sub Registrar Office that covers Madha Koil Street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Tondaiarpet. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official register.

When a property is sold, the guideline value is used to calculate applicable fees such as stamp duty and registration charges. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Madha Koil Street?

The current guideline value of Madha Koil Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 900 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 144% over the years.

What are the stamp duty rates applicable in Madha Koil Street?

The stamp duty rate for property transactions in Madha Koil Street is 7% of the guideline value or sale price, whichever is higher.

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

The Sub Registrar Office for Madha Koil Street is located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

What is the median guideline value for streets in Tondaiarpet?

The median guideline value for streets in Tondaiarpet is Rs 1,600 per sq.ft, with Madha Koil Street's value being above this median.