Guideline Value for Medo Villas

Medo Villas guideline value

The current guideline value of Medo Villas is Rs 3,960 per sq.ft, effective from 1 July 2024. This property is located in Perungalathur village, under the Padappai SRO, and is classified as Commercial Class I Type - I.

How the guideline value of Medo Villas has changed

Over the years, the guideline value of Medo Villas has seen significant changes. The 2007 revision set the value at Rs 460 per sq.ft, which increased dramatically to Rs 3,600 per sq.ft in the 2012 revision, marking a rise of 683%. However, the value then dropped to Rs 2,412 per sq.ft in 2017, a decrease of 33%. Following this, the value rose to Rs 3,600 per sq.ft in 2023, and has now reached Rs 3,960 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year. Notably, the register has no figures for this street in 2002 and 2003.

From the 2017 revision to the 2023 revision, there was a substantial increase of 49%. Overall, from 2007 to 2024, the guideline value has increased by 761%, showcasing the fluctuations and revisions over the years.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 5,500 per sq.ft, with a median value of Rs 2,310 per sq.ft. Medo Villas' current value of Rs 3,960 per sq.ft is above this median, indicating its relative standing in the area.

• Meenakshi Avenue: Rs 1,980 per sq.ft (2024)
• Meera Nagar: Rs 1,980 per sq.ft (2024)
• M.A.V.Ramraja Avenue: Rs 2,970 per sq.ft (2024)
• Masoothi Street: Rs 1,650 per sq.ft (2024)
• Metro Classic City: Rs 2,310 per sq.ft (2024)
• Mettu Theru: Rs 2,640 per sq.ft (2024)

Stamp duty and registration fee for property in Medo Villas

For a 1,000 sq.ft plot at the current guideline value of Rs 3,960 per sq.ft, the total guideline value amounts to Rs 39,60,000. The stamp duty at 7% would be Rs 2,77,200, and the registration fee at 2% would be Rs 79,200, making the total charges Rs 3,56,400. 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 Medo Villas?

The Sub Registrar Office that covers Medo Villas is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Perungalathur. It determines the minimum value at which properties can be registered and is used to calculate the applicable stamp duty and registration fees.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, helping to maintain transparency in real estate dealings. This value is essential for both buyers and sellers to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Medo Villas?

The current guideline value of Medo Villas is Rs 3,960 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 460 per sq.ft in 2007 to Rs 3,960 per sq.ft in 2024, showing an overall increase of 761% over this period.

What is the stamp duty for property in Medo Villas?

The stamp duty for a property in Medo Villas is 7% of the guideline value. For example, on a plot valued at Rs 39,60,000, the stamp duty would be Rs 2,77,200.

Which office handles property registrations for Medo Villas?

The Padappai Sub Registrar Office handles property registrations for Medo Villas, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

What is the median guideline value in Perungalathur?

The median guideline value in Perungalathur is Rs 2,310 per sq.ft, with Medo Villas' value of Rs 3,960 per sq.ft being above this median.