Guideline Value for Madhava Perumal South Street

Madhava Perumal South Street guideline value

The current guideline value of Madhava Perumal South 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 South Street has changed

The guideline value for Madhava Perumal South Street has seen several revisions over the years. In 2002, the guideline value was Rs 340 per sq.ft. This increased to Rs 668 per sq.ft in 2003, marking a change of +96%. The value continued to rise, reaching Rs 800 per sq.ft in 2007, which was a +20% increase. However, between 2007 and 2012, the value dropped to Rs 3,000 per sq.ft, reflecting a decrease of -275%. The 2017 revision set the value at Rs 2,010 per sq.ft, showing an increase of +49% from the previous figure. The 2023 revision brought the value up to Rs 3,000 per sq.ft, and the latest revision in 2024 has set it at Rs 3,300 per sq.ft, which is a +10% increase.

There are no figures available for the revisions in the years not listed above. Overall, from 2002 to 2024, the guideline value has increased by +871%.

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 value for these streets is Rs 3,850 per sq.ft, making the guideline value for Madhava Perumal South Street below that median.

• Madhava Perumal North Street: Rs 3,300 per sq.ft (2024)
• Madhava Perumal West Street: Rs 3,300 per sq.ft (2024)
• Madhava Perumal East Street: Rs 3,300 per sq.ft (2024)
• Madhava Perumal Central 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 South Street

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the guideline value totals 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, bringing the total to 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 South Street?

The Madhava Perumal South Street is covered by 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. To find your SRO, you can visit find your SRO.

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 benchmark for determining the stamp duty and registration fees that must be paid during the buying or selling process.

When you buy or sell property, the guideline value helps ensure that the transaction is recorded accurately and fairly. It is essential to be aware of the current guideline value to understand the financial implications of your property transaction.

Frequently asked questions

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

The current guideline value of Madhava Perumal South 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 increased from Rs 340 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of +871%.

What is the land classification for Madhava Perumal South Street?

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

Where can I find the registration office for this street?

The registration office covering Madhava Perumal South 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.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 3,300 per sq.ft, the total guideline value is Rs 33,00,000, leading to specific fees based on that amount.