Guideline Value for Madras Chritian College

Madras Chritian College guideline value

The current guideline value for Madras Chritian College in Irumpuliyur village is Rs 3,850 per sq.ft, effective from 1 July 2024. This property falls under the Tambaram Joint 1 SRO and is classified as Commercial Class I Type - II.

How the guideline value of Madras Chritian College has changed

The guideline value for Madras Chritian College has seen several revisions over the years. The 2012 revision set the value at Rs 3,500 per sq.ft, which was a decrease of 33% from the previous revision in 2017, where the value was Rs 2,345 per sq.ft. The register has no figures for the years 2002, 2003, and 2007 for this street.

In the subsequent revisions, the guideline value increased significantly. The 2023 revision raised the value to Rs 3,500 per sq.ft, and the latest 2024 revision has further increased it to Rs 3,850 per sq.ft, marking a 10% increase from the previous year. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Irumpuliyur

In Irumpuliyur, there are 218 streets under the Tambaram Joint 1 SRO with a 2024 guideline value ranging from Rs 880 to Rs 6,600 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing the Madras Chritian College guideline value above this median.

• Mahalakshmi Street: Rs 2,530 per sq.ft (2024)
• Mallika nagar: Rs 3,850 per sq.ft (2024)
• Mangalapuram 1-st St: Rs 1,650 per sq.ft (2024)
• Mangalapuram 2-nd St: Rs 3,850 per sq.ft (2024)
• Mangalapuram 3-rd St: Rs 1,650 per sq.ft (2024)
• Mangalapuram Main Road: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Madras Chritian College

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, and the registration fee at 2% would be Rs 77,000. Together, the total cost for stamp duty and registration fees would be Rs 3,46,500. It is important to note that 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 further calculations.

Which Sub Registrar Office covers Madras Chritian College?

The Madras Chritian College is covered by the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in property transactions in Irumpuliyur, as it determines the minimum value at which properties can be registered. Buyers and sellers must consider the guideline value when negotiating sale prices, as the registration office will use this value to calculate applicable duties and fees.

When registering a property, the guideline value ensures transparency and standardization in property transactions. It helps in assessing the stamp duty and registration fees, which are calculated based on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value of Madras Chritian College?

The current guideline value of Madras Chritian College is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with the most recent increase being from Rs 3,500 per sq.ft in 2023 to Rs 3,850 per sq.ft in 2024, a 10% increase. The overall change from 2012 to 2024 is a 10% increase.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500 and the registration fee would be Rs 77,000, totaling Rs 3,46,500. These fees are based on the guideline value or the sale price, whichever is higher.

Which registration office covers Madras Chritian College?

The Tambaram Joint 1 Sub Registrar Office covers Madras Chritian College, located at No.26, Mes Road, East Tambaram, Chennai-600059.

What is the land classification for Madras Chritian College?

Madras Chritian College is classified as Commercial Class I Type - II, which indicates its use and potential for commercial activities.