Guideline Value for Maduranthottam Street

Maduranthottam Street guideline value

The current guideline value of Maduranthottam Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in the 2nd Division village under the Kanchipuram Joint IV SRO, classified as Residential Class I Type - I.

How the guideline value of Maduranthottam Street has changed

The guideline value for Maduranthottam Street has seen several revisions over the years. In the 2012 revision, the value was set at Rs 2,000 per sq.ft. This figure remained unchanged in the 2017 revision, where it dropped to Rs 1,340 per sq.ft, marking a decrease of 33%. The 2023 revision increased the value to Rs 2,000 per sq.ft, followed by the latest 2024 revision, which raised it to Rs 2,200 per sq.ft, reflecting a 10% increase.

There are no figures available for the revisions in 2002, 2003, and 2007 for Maduranthottam Street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in 2nd Division

In the 2nd Division, there are 101 streets under the Kanchipuram Joint IV SRO with a 2024 guideline value ranging from Rs 800 to Rs 11,000 per sq.ft. The median value is Rs 1,650 per sq.ft, placing Maduranthottam Street's 2024 figure above this median.

• Lalakuttai Street: Rs 1,100 per sq.ft (2024)
• Manjal Neer Kalvai: Rs 1,650 per sq.ft (2024)
• Kumar Street: Rs 1,650 per sq.ft (2024)
• Kumarasamy Avenue: Rs 3,300 per sq.ft (2024)
• Kumarai Chetty Street: Rs 1,650 per sq.ft (2024)
• Masuthi Santhu: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Maduranthottam Street

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. It is important to note that the 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 Maduranthottam Street?

The Sub Registrar Office covering Maduranthottam Street is the Kanchipuram Joint IV Sub Registrar Office, located at Kamarajar Road, Taluk Office Campus, Kanchipuram-631 501, 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 2nd Division

The guideline value is a crucial factor in property transactions within the 2nd Division. It serves as a benchmark for determining the minimum value at which properties can be registered. This value is used to calculate the stamp duty and registration fees payable during the transaction.

When buying or selling property, the guideline value ensures that transactions are conducted transparently and fairly. It helps in assessing the value of the property for legal and taxation purposes, thus safeguarding the interests of both buyers and sellers.

Frequently asked questions

What is the current guideline value of Maduranthottam Street?

The current guideline value of Maduranthottam Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then back to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for Maduranthottam Street?

Maduranthottam Street is classified as Residential Class I Type - I, indicating it is primarily designated for residential use.

Where can I find the Sub Registrar Office for Maduranthottam Street?

The Sub Registrar Office for Maduranthottam Street is the Kanchipuram Joint IV Sub Registrar Office, located at Kamarajar Road, Taluk Office Campus, Kanchipuram-631 501.

How is stamp duty calculated for properties in Maduranthottam Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 at a rate of 7%.