Guideline Value for Madurai Veeran Koil Street

Madurai Veeran Koil Street guideline value

The current guideline value of Madurai Veeran Koil Street is Rs 2,420 per sq.ft, effective from 1 July 2024. This street is located in Chengalpattu Town village, under the Chengleput Joint I SRO, and is classified as Residential Class III Type - I.

How the guideline value of Madurai Veeran Koil Street has changed

Over the years, the guideline value of Madurai Veeran Koil Street has seen several revisions. The earliest recorded figure is from 2007, where it was Rs 450 per sq.ft. This increased significantly to Rs 2,200 per sq.ft in 2012, marking a rise of 389%. However, from 2012 to 2017, the value decreased to Rs 1,474 per sq.ft, a drop of 33%. The value then rose again to Rs 2,200 per sq.ft in 2023, showing a 49% increase. The most recent revision in 2024 set the value at Rs 2,420 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no recorded figures for Madurai Veeran Koil Street in the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 438%.

Guideline values in Chengalpattu Town

In Chengalpattu Town, there are 55 streets under the Chengleput Joint I SRO that have a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median value is Rs 3,025 per sq.ft, which means that the guideline value of Madurai Veeran Koil Street is below this median.

• Melamaiyur Pillaiyar Kovil Street: Rs 2,750 per sq.ft (2024)
• Municipal Colony: Rs 2,475 per sq.ft (2024)
• Kandiban Vedachalam Street: Rs 4,125 per sq.ft (2024)
• Old G.S.T.Road 1: Rs 3,025 per sq.ft (2024)
• Old G.S.T.Road 2: Rs 3,025 per sq.ft (2024)
• Old G.S.T.Road 3: Rs 3,025 per sq.ft (2024)

Stamp duty and registration fee for property in Madurai Veeran Koil Street

For a 1,000 sq.ft plot at the current rate of Rs 2,420 per sq.ft, the guideline value would be Rs 24,20,000. The stamp duty at 7% would amount to Rs 1,69,400, and the registration fee at 2% would be Rs 48,400, totaling Rs 2,17,800. 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 further calculations.

Which Sub Registrar Office covers Madurai Veeran Koil Street?

The Sub Registrar Office that covers Madurai Veeran Koil Street is the Chengleput Joint I Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Chengalpattu Town. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property. Buyers and sellers should be aware of the guideline value to ensure they comply with legal requirements during the transaction.

When a property is sold, the guideline value is considered to ensure that the transaction is recorded accurately. This helps in maintaining transparency and legality in property dealings within the region.

Frequently asked questions

What is the current guideline value of Madurai Veeran Koil Street?

The current guideline value of Madurai Veeran Koil Street is Rs 2,420 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 to Rs 2,420 per sq.ft in 2024, showing significant increases and some decreases in between.

What is the median guideline value in Chengalpattu Town?

The median guideline value in Chengalpattu Town is Rs 3,025 per sq.ft, with Madurai Veeran Koil Street's current value being below this median.

What are the stamp duty and registration fees for property in Madurai Veeran Koil Street?

For a property valued at Rs 24,20,000, the stamp duty would be Rs 1,69,400, and the registration fee would be Rs 48,400, totaling Rs 2,17,800.

Where is the Sub Registrar Office for Madurai Veeran Koil Street located?

The Sub Registrar Office for Madurai Veeran Koil Street is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone.