Guideline Value for Mondiamman Koil Street

Mondiamman Koil Street guideline value

The current guideline value of Mondiamman Koil Street is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Padiyanallur village under the Redhills SRO, classified as Residential Special Type - I.

How the guideline value of Mondiamman Koil Street has changed

The guideline value for Mondiamman Koil Street has seen several revisions over the years. The earliest recorded figure is from 2003, where it was Rs 223 per sq.ft. This increased significantly to Rs 600 per sq.ft in 2007, marking a 169% rise. In 2012, the value remained at Rs 1,200 per sq.ft, which was a 100% increase from the previous revision. However, there was a decrease to Rs 804 per sq.ft in 2017, a decline of 33%. The value then rose to Rs 1,200 per sq.ft in 2023, followed by a further increase to Rs 1,320 per sq.ft in 2024, which is a 10% rise.

Notably, there is no figure recorded for Mondiamman Koil Street in the 2002 revision. Overall, from 2003 to 2024, the guideline value has increased by 492%.

Guideline values in Padiyanallur

In Padiyanallur, 132 streets under the Redhills SRO have a 2024 guideline value ranging from Rs 385 to Rs 2,750 per sq.ft, with a median value of Rs 770 per sq.ft. The guideline value of Mondiamman Koil Street is above this median.

• Moovendhar Street: Rs 770 per sq.ft (2024)
• M.G.R. Street: Rs 660 per sq.ft (2024)
• Munuswamy Koil Street: Rs 770 per sq.ft (2024)
• Meenakshi Nagar: Rs 385 per sq.ft (2024)
• Muthu Mari Amman Street: Rs 770 per sq.ft (2024)
• Matha Koil Street: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Mondiamman Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, and the registration fee at 2% would be Rs 26,400, making the total fees Rs 1,18,800. 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 accurate calculations.

Which Sub Registrar Office covers Mondiamman Koil Street?

The Sub Registrar Office that covers Mondiamman Koil Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration process when buying or selling property in Padiyanallur. It serves as a benchmark for determining the stamp duty and registration fees that must be paid to the government.

When a property is registered, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Mondiamman Koil Street?

The current guideline value of Mondiamman Koil Street is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 223 per sq.ft in 2003 to Rs 1,320 per sq.ft in 2024, reflecting an overall increase of 492% over the years.

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

Other streets in Padiyanallur include Moovendhar Street at Rs 770 per sq.ft, M.G.R. Street at Rs 660 per sq.ft, and Munuswamy Koil Street at Rs 770 per sq.ft, among others.

How is stamp duty calculated for properties in Mondiamman Koil Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft property at the current guideline value would incur a stamp duty of Rs 92,400.

Where can I find the Sub Registrar Office for Mondiamman Koil Street?

The Sub Registrar Office for Mondiamman Koil Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.