Guideline Value for Madhava Perumal East Street

Madhava Perumal East Street guideline value

The current guideline value of Madhava Perumal East Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Parangimalai village and falls under the Chennai South Joint II SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Madhava Perumal East Street has changed

The guideline value for Madhava Perumal East Street has undergone several revisions over the years. Starting from the 2002 revision, the value was Rs 465 per sq.ft. In 2003, it increased to Rs 668 per sq.ft, marking a 44% rise. The 2007 revision saw a further increase to Rs 800 per sq.ft, which was a 20% change. By 2012, the value had significantly risen to Rs 3,000 per sq.ft, reflecting a 275% increase from the previous revision. However, in 2017, the value dropped to Rs 2,010 per sq.ft, a decrease of 33%. The 2023 revision brought the value back up to Rs 3,000 per sq.ft, followed by a 10% increase to the current value of Rs 3,300 per sq.ft in the 2024 revision.

Overall, from 2002 to 2024, the guideline value has increased by 610%. There are no revisions with figures missing for this street in the register.

Guideline values in Parangimalai

In Parangimalai, there are 233 streets under the Chennai South Joint II SRO that carry a 2024 guideline value, ranging from Rs 2,750 to Rs 11,000 per sq.ft. The median guideline value in this area is Rs 3,850 per sq.ft, placing Madhava Perumal East Street's 2024 figure below that median.

• Madhava Perumal Central Street: Rs 3,300 per sq.ft (2024)
• Madhava Perumal North Street: Rs 3,300 per sq.ft (2024)
• Madhava Perumal South Street: Rs 3,300 per sq.ft (2024)
• Madhava Perumal West Street: Rs 3,300 per sq.ft (2024)
• Madhammal Koil Street: Rs 2,750 per sq.ft (2024)
• Madurai Naicken Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Madhava Perumal East Street

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Madhava Perumal East Street?

The Sub Registrar Office that covers Madhava Perumal East Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Parangimalai. It serves as a reference for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the fair valuation of the property. It is essential to be aware of the guideline value to avoid disputes during the registration process.

Frequently asked questions

What is the current guideline value of Madhava Perumal East Street?

The current guideline value of Madhava Perumal East Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 465 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, representing an overall increase of 610% over this period.

What is the land classification for Madhava Perumal East Street?

The land classification for Madhava Perumal East Street is Residential Class II Type - II.

What are the stamp duty and registration fees for a property here?

For a 1,000 sq.ft property at the current guideline value, the total stamp duty and registration fees would amount to Rs 2,97,000, based on the current rates.

Which office handles registrations for Madhava Perumal East Street?

The Chennai South Joint II Sub Registrar Office handles registrations for Madhava Perumal East Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.