Guideline Value for Medavakkam Main Road

Medavakkam Main Road guideline value

The current guideline value of Medavakkam Main Road in Kilkattalai village is Rs 5,500 per sq.ft, effective from 1 July 2024. This area falls under the Pallavaram SRO and is classified as Commercial Class I Type - I.

How the guideline value of Medavakkam Main Road has changed

The guideline value for Medavakkam Main Road has seen significant changes over the years. In the 2003 revision, the value was Rs 406 per sq.ft, which increased to Rs 1,500 per sq.ft in 2007, marking a substantial rise of 269%. The 2012 revision saw the value at Rs 5,000 per sq.ft, a 233% increase from the previous revision. However, in 2017, the value dropped to Rs 3,350 per sq.ft, reflecting a decrease of 33%. The value then rose to Rs 5,000 per sq.ft in 2023, before reaching the current value of Rs 5,500 per sq.ft in the 2024 revision, which is a 10% increase.

Overall, from the 2003 revision to the 2024 revision, the guideline value has increased by 1255%. It is important to note that there is no figure available for this street in the 2002 revision.

Guideline values in Kilkattalai

Kilkattalai village has 194 streets under the Pallavaram SRO, with guideline values ranging from Rs 1,080 to Rs 5,500 per sq.ft as of 2024. The median value for these streets is Rs 2,530 per sq.ft, placing Medavakkam Main Road's 2024 figure above this median.

• Mariamman Koil Street: Rs 2,200 per sq.ft (2024)
• Marden Avenue, Sumuga Vinayagar Koil Street: Rs 1,980 per sq.ft (2024)
• Marden Avenue, Ganga Nagar Ext: Rs 1,980 per sq.ft (2024)
• Manoharan Street: Rs 2,200 per sq.ft (2024)
• MK Nagar & Extn.: Rs 2,160 per sq.ft (2024)
• Manikandan Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Medavakkam Main Road

For a 1,000 sq.ft plot at the current rate of Rs 5,500 per sq.ft, the guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, totaling Rs 4,95,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more assistance.

Which Sub Registrar Office covers Medavakkam Main Road?

The Sub Registrar Office that covers Medavakkam Main Road is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration of property transactions in Kilkattalai. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value serves as a benchmark for calculating the applicable duties. Buyers should be aware that the stamp duty and registration fees are charged based on the guideline value or the sale price, whichever is higher, ensuring transparency in property transactions.

Frequently asked questions

What is the current guideline value of Medavakkam Main Road?

The current guideline value of Medavakkam Main Road is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 406 per sq.ft in 2003 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 1255% over this period.

What are the other streets in Kilkattalai and their guideline values?

Other streets in Kilkattalai include Mariamman Koil Street at Rs 2,200 per sq.ft, Marden Avenue, Sumuga Vinayagar Koil Street at Rs 1,980 per sq.ft, and several others, with values ranging from Rs 1,980 to Rs 2,200 per sq.ft.

Where is the Sub Registrar Office located?

The Pallavaram Sub Registrar Office is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

How is stamp duty calculated on properties in Kilkattalai?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, for a property valued at Rs 55,00,000, the stamp duty would be calculated at 7% of this amount.