Guideline Value for Madha Koil Street

Madha Koil Street guideline value

The current guideline value of Madha Koil Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in 1. Nolambur village under the Villivakkam SRO, 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 2017 revision set the value at Rs 3,350 per sq.ft. In 2023, it increased to Rs 5,000 per sq.ft, marking a significant rise of 49%. The latest revision in 2024 brought the value to Rs 5,500 per sq.ft, which is a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in 1. Nolambur

In 1. Nolambur, there are 73 streets under the Villivakkam SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 8,800 per sq.ft, with a median value of Rs 7,100 per sq.ft. Madha Koil Street's 2024 figure is below this median.

• Madha Koil Street 1 to 8: Rs 5,500 per sq.ft (2024)
• Mani Nagar: Rs 7,100 per sq.ft (2024)
• M.C.K. Layout: Rs 5,500 per sq.ft (2024)
• Mogappair West Garden: Rs 7,100 per sq.ft (2024)
• Moon Enclave: Rs 7,100 per sq.ft (2024)
• Kgeyes Apoorvaa: Rs 7,100 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 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, totaling Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, 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 Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more details.

How the guideline value is used when you buy or sell in 1. Nolambur

The guideline value is a crucial factor in the registration process when buying or selling property in 1. Nolambur. 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 is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Madha Koil Street?

The current guideline value of Madha Koil Street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 3,350 per sq.ft in 2017 to Rs 5,500 per sq.ft in 2024, which is a total increase of 64% over the years.

What are the stamp duty rates for properties in Madha Koil Street?

The stamp duty for properties in Madha Koil Street is charged at 7% of the guideline value or the 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 Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.

What is the land classification for Madha Koil Street?

Madha Koil Street is classified as Residential Class I Type - I under the Villivakkam SRO.