Guideline Value for Madras Christian College

Madras Christian College guideline value

The current guideline value for Madras Christian College in Selaiyur village is Rs 850 per sq.ft, effective from 1 July 2024. This property falls under the Selaiyur SRO and is classified as Residential Class V Type - I.

How the guideline value of Madras Christian College has changed

The guideline value for Madras Christian College has seen several revisions over the years. The 2007 revision set the value at Rs 450 per sq.ft, which increased to Rs 800 per sq.ft in 2012. However, in 2017, the value dropped to Rs 536 per sq.ft before rising again to Rs 800 per sq.ft in 2023. The most recent revision in 2024 has set the guideline value at Rs 850 per sq.ft.

Between these revisions, there have been significant changes. From 2007 to 2012, the value increased by 78%, but then dropped by 33% from 2012 to 2017. The value surged by 49% from 2017 to 2023, and finally, there was a 6% increase from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 89%.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO, with guideline values ranging from Rs 850 to Rs 6,500 per sq.ft. The median guideline value in the village is Rs 2,200 per sq.ft, making the current value for Madras Christian College below this median.

• Madura Kavi Street: Rs 2,400 per sq.ft (2024)
• Mahadevan Nagar: Rs 850 per sq.ft (2024)
• Madha Koil Street: Rs 1,600 per sq.ft (2024)
• Madambakkam Camp Road: Rs 2,200 per sq.ft (2024)
• Mahalakshmi Street: Rs 3,750 per sq.ft (2024)
• LIC Colony: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Madras Christian College

For a 1,000 sq.ft plot at the current guideline value of Rs 850 per sq.ft, the total guideline value would be Rs 8,50,000. The stamp duty at 7% would amount to Rs 59,500, and the registration fee at 2% would be Rs 17,000, bringing the total charges to Rs 76,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Madras Christian College?

The Sub Registrar Office that covers Madras Christian College is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

When buying or selling property in Selaiyur, the guideline value plays a crucial role in determining the registration fees and stamp duty. The guideline value is set by the government and is used as a benchmark for property transactions, ensuring that the taxes collected are based on a standardized value.

During the registration process, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions while providing a transparent method for determining property values.

Frequently asked questions

What is the current guideline value for Madras Christian College?

The current guideline value for Madras Christian College is Rs 850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 450 per sq.ft in 2007, rising to Rs 800 in 2012, dropping to Rs 536 in 2017, increasing to Rs 800 in 2023, and finally reaching Rs 850 in 2024.

What is the classification of land for Madras Christian College?

The land classification for Madras Christian College is Residential Class V Type - I, indicating its designation for residential purposes.

What are the stamp duty and registration fees for a property in Madras Christian College?

For a property valued at Rs 8,50,000, the stamp duty would be Rs 59,500 and the registration fee would be Rs 17,000, totaling Rs 76,500.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.