Guideline Value for Midhantha Vinayagar Koil Street

Midhantha Vinayagar Koil Street guideline value

The current guideline value of Midhantha Vinayagar Koil Street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village under the Selaiyur SRO, classified as Residential Class II Type - II.

How the guideline value of Midhantha Vinayagar Koil Street has changed

The guideline value for Midhantha Vinayagar Koil Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which remained unchanged until the 2023 revision. In 2023, the value was again Rs 1,200 per sq.ft, but in 2024, it increased to Rs 1,300 per sq.ft, marking an 8% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, 2007, and 2017 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 8%.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO, with guideline values ranging from Rs 1,100 to Rs 6,000 per sq.ft as of 2024. The median guideline value in this area is Rs 2,400 per sq.ft, indicating that the 2024 guideline value for Midhantha Vinayagar Koil Street is below this median.

• M.G.R. Street Periyar Nagar: Rs 1,100 per sq.ft (2024)
• M.G.R Street: Rs 1,100 per sq.ft (2024)
• Mohan Avenue: Rs 1,700 per sq.ft (2024)
• Mohan Nagar: Rs 2,400 per sq.ft (2024)
• Mohan Nagar 1st Cross Street: Rs 2,400 per sq.ft (2024)
• Mohan Nagar 1st Main Road: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Midhantha Vinayagar Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total fees together to Rs 1,17,000. Please 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 on fees applicable to your property transaction.

Which Sub Registrar Office covers Midhantha Vinayagar Koil Street?

The Sub Registrar Office that covers Midhantha Vinayagar Koil Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opposite to Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, 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 Madambakkam

The guideline value is an important factor in the registration process when buying or selling property in Madambakkam. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on this value or the sale price, whichever is higher.

When a property is registered, the guideline value helps ensure transparency and consistency in property transactions. Buyers and sellers should be aware of the current guideline value to understand the financial implications of their real estate dealings.

Frequently asked questions

What is the current guideline value of Midhantha Vinayagar Koil Street?

The current guideline value of Midhantha Vinayagar Koil Street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 1,200 per sq.ft from 2012 to 2023, and then increased to Rs 1,300 per sq.ft in 2024, marking an overall increase of 8% from 2012 to 2024.

What is the land classification for Midhantha Vinayagar Koil Street?

Midhantha Vinayagar Koil Street is classified as Residential Class II Type - II.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opposite to Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is the stamp duty calculated for properties in Madambakkam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, on a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 at 7%.