Guideline Value for Madhurai Veeran Street

Madhurai Veeran Street guideline value

The current guideline value of Madhurai Veeran Street is Rs 200 per sq.ft, effective from 1 July 2024. This street is located in Vellarai village, under the Sriperumpudur SRO, and is classified as Residential Special Type - III.

How the guideline value of Madhurai Veeran Street has changed

The guideline value for Madhurai Veeran Street has seen several revisions over the years. In 2012, the guideline value was Rs 200 per sq.ft, which then decreased to Rs 134 per sq.ft in 2017. From 2017 to 2023, the value increased by 49%, bringing it back to Rs 200 per sq.ft. The most recent revision in 2024 maintained this value at Rs 200 per sq.ft, reflecting a change of 0% from the previous year.

There are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Vellarai

In Vellarai, there are 20 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 110 to Rs 1,500 per sq.ft. The median value for these streets is Rs 300 per sq.ft, placing Madhurai Veeran Street's 2024 figure below that median.

• Manavala Nagar: Rs 200 per sq.ft (2024)
• Manimozhi Nagar: Rs 200 per sq.ft (2024)
• Mettu Street: Rs 110 per sq.ft (2024)
• Pokkisham Nagar: Rs 300 per sq.ft (2024)
• Galaxy Nagar: Rs 300 per sq.ft (2024)
• Enlight - III: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Madhurai Veeran Street

For a 1,000 sq.ft plot at the current rate of Rs 200 per sq.ft, the guideline value would be Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, making the total Rs 18,000. 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 details.

Which Sub Registrar Office covers Madhurai Veeran Street?

The Sub Registrar Office that covers Madhurai Veeran Street is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Vellarai. It determines the base value on which stamp duty and registration fees are calculated, ensuring that all transactions are documented accurately.

When a property is sold, the guideline value helps in assessing the appropriate taxes due at the time of registration. This ensures transparency in property transactions and helps the government in collecting the necessary revenue.

Frequently asked questions

What is the current guideline value of Madhurai Veeran Street?

The current guideline value of Madhurai Veeran Street is Rs 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 200 per sq.ft in 2012 to Rs 134 per sq.ft in 2017, then back to Rs 200 per sq.ft in 2023, and remains at Rs 200 per sq.ft in 2024.

What is the median guideline value for streets in Vellarai?

The median guideline value for streets in Vellarai is Rs 300 per sq.ft, which is higher than the current value of Madhurai Veeran Street.

What fees are associated with buying property on Madhurai Veeran Street?

The fees include a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Madhurai Veeran Street?

The Sub Registrar Office for Madhurai Veeran Street is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.