Guideline Value for Madhakoil Street, Nagelkeni

Madhakoil Street, Nagelkeni guideline value

The current guideline value of Madhakoil Street, Nagelkeni is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Pammal village and falls under the Pammal SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Madhakoil Street, Nagelkeni has changed

The guideline value for Madhakoil Street has seen several revisions over the years. In the 2017 revision, the value was set at Rs 1,206 per sq.ft. This increased to Rs 1,800 per sq.ft in the 2023 revision, marking a significant rise of 49%. The current 2024 revision has further increased the guideline value to Rs 1,980 per sq.ft, reflecting a 10% change from the previous year. The register has no figures for the years 2002, 2003, 2007, and 2012.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. This consistent increase highlights the changes in the valuation of properties in this area over the years.

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO, with guideline values ranging from Rs 880 to Rs 3,300 per sq.ft as of 2024. The median guideline value in Pammal is Rs 2,090 per sq.ft, which means that Madhakoil Street's 2024 figure of Rs 1,980 per sq.ft is below the median.

• Madha Koil Street: Rs 1,980 per sq.ft (2024)
• Madavi Street / Muthamzhi Nagar: Rs 2,475 per sq.ft (2024)
• Madhavan Nair Cross Street, Krishna Nagar: Rs 2,530 per sq.ft (2024)
• Madhavan Nair Lane / Muthamzhi Nagar: Rs 2,475 per sq.ft (2024)
• Madhavan Nair Street, Krishna Nagar: Rs 2,530 per sq.ft (2024)
• Madhavan Nair Street /Muthamzhi Nagar: Rs 2,475 per sq.ft (2024)

Stamp duty and registration fee for property in Madhakoil Street, Nagelkeni

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, while the registration fee at 2% would be Rs 39,600, bringing the total fees together to Rs 1,78,200. It's important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Madhakoil Street, Nagelkeni?

The Sub Registrar Office that covers Madhakoil Street, Nagelkeni is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value serves as a benchmark for property transactions in Pammal. It is essential for determining the stamp duty and registration fees applicable when buying or selling property in the area. When registering a property, the guideline value is used to calculate the fees, ensuring that all transactions are assessed fairly based on the established values.

When a property is sold, the guideline value helps in determining the minimum value for registration purposes. This ensures that properties are not undervalued during transactions, which helps maintain transparency in the real estate market.

Frequently asked questions

What is the current guideline value of Madhakoil Street, Nagelkeni?

The current guideline value of Madhakoil Street, Nagelkeni is Rs 1,980 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 1,206 per sq.ft in 2017 to Rs 1,980 per sq.ft in 2024, reflecting an overall increase of 64% over this period.

What are the other guideline values in Pammal?

In Pammal, the guideline values range from Rs 880 to Rs 3,300 per sq.ft, with a median value of Rs 2,090 per sq.ft. Madhakoil Street's value is below this median at Rs 1,980 per sq.ft.

What fees are associated with property transactions in Madhakoil Street?

For a property valued at Rs 19,80,000, the stamp duty would be Rs 1,38,600 and the registration fee would be Rs 39,600, totaling Rs 1,78,200.

Where can I find the Sub Registrar Office for Madhakoil Street?

The Pammal Sub Registrar Office covers Madhakoil Street, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.