Guideline Value for Madura Vasal Street

Madura Vasal Street guideline value

The current guideline value of Madura Vasal Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Muthiyalpet village, under the Sowcarpet SRO, and is classified as Residential Class I Type - I.

How the guideline value of Madura Vasal Street has changed

The guideline value for Madura Vasal Street has seen significant changes over the years. In 2003, the value was Rs 920 per sq.ft, which increased to Rs 1,200 per sq.ft in 2007, marking a rise of 30%. The value further surged to Rs 4,000 per sq.ft in 2012, reflecting a considerable increase of 233%. However, the value dropped to Rs 2,680 per sq.ft in 2017, a decrease of 33%. The value then rose to Rs 4,000 per sq.ft in 2023, before reaching the current value of Rs 4,400 per sq.ft in 2024, an increase of 10%.

It is important to note that the register has no figure for Madura Vasal Street in 2002. Overall, from 2003 to 2024, the guideline value has increased by 378%.

Guideline values in Muthiyalpet

Muthiyalpet village has a total of 357 streets under the Sowcarpet SRO, with the 2024 guideline values ranging from Rs 3,800 to Rs 16,500 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, which is equal to the current guideline value of Madura Vasal Street.

• Madura Vasal Lane: Rs 4,400 per sq.ft (2024)
• Mabuskhan Garden Street: Rs 4,900 per sq.ft (2024)
• Lendriyan Devidson Street: Rs 6,000 per sq.ft (2024)
• Malaiya Perumal Street: Rs 8,800 per sq.ft (2024)
• Malaiyappan Street: Rs 4,400 per sq.ft (2024)
• Lawyer Chinna Thambi Mudali Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Madura Vasal Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, totaling Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Madura Vasal Street?

The Sub Registrar Office that covers Madura Vasal Street is the Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01. You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Muthiyalpet, as it determines the amount of stamp duty and registration fees payable. Buyers and sellers must refer to the current guideline value to understand their financial obligations during the registration process.

When a property is registered, the guideline value is used to calculate the stamp duty, which is charged at a specified percentage. This ensures that both buyers and sellers are aware of the financial implications of their transactions based on the established guideline values.

Frequently asked questions

What is the current guideline value of Madura Vasal Street?

The current guideline value of Madura Vasal Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, with the value rising from Rs 920 per sq.ft in 2003 to Rs 4,400 per sq.ft in 2024, marking an overall increase of 378% over this period.

What is the median guideline value for streets in Muthiyalpet?

The median guideline value for streets in Muthiyalpet is Rs 4,400 per sq.ft, which is the same as the current guideline value for Madura Vasal Street.

Where can I find the Sub Registrar Office for Madura Vasal Street?

The Sub Registrar Office for Madura Vasal Street is located at No.11, Davidson Street, Sowcarpet, Chennai-01.

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 property valued at Rs 44,00,000, the stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000.