Guideline Value for North MadaKoil Street

North MadaKoil Street guideline value

The current guideline value of North MadaKoil Street is Rs 3,800 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village, under the Royapuram SRO, and is classified as Commercial Class I Type - I.

How the guideline value of North MadaKoil Street has changed

The guideline value for North MadaKoil Street has undergone several revisions over the years. In 2007, the value was Rs 900 per sq.ft, which increased significantly to Rs 3,500 per sq.ft in 2012, marking a rise of 289%. However, from 2012 to 2017, the value dropped to Rs 2,345 per sq.ft, a decrease of 33%. The most recent revision in 2024 set the guideline value at Rs 3,800 per sq.ft, reflecting a substantial increase of 62% from the 2017 figure.

It is important to note that there are no figures available for the years 2023, 2003, and 2002 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 322%.

Guideline values in Tondaiarpet

In Tondaiarpet village, there are 1,384 streets under the Royapuram SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median guideline value for these streets is Rs 1,600 per sq.ft, placing North MadaKoil Street's 2024 figure above this median.

• North Mada Street: Rs 3,800 per sq.ft (2024)
• North Mada Street Extension: Rs 3,800 per sq.ft (2024)
• North Railway Eriyuttu street: Rs 1,300 per sq.ft (2024)
• North Railway Terminal salai (Harbour Area): Rs 1,300 per sq.ft (2024)
• North Terminus Road: Rs 1,600 per sq.ft (2024)
• New Vinoba Nagar 3rd street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in North MadaKoil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,800 per sq.ft, the total guideline value amounts to Rs 38,00,000. The stamp duty at 7% would be Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, bringing the total fees together to Rs 3,42,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers North MadaKoil Street?

The Sub Registrar Office that covers North MadaKoil Street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of property in Tondaiarpet. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue based on the property's value.

Frequently asked questions

What is the current guideline value of North MadaKoil Street?

The current guideline value of North MadaKoil Street is Rs 3,800 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 900 per sq.ft in 2007 to Rs 3,800 per sq.ft in 2024, reflecting an overall increase of 322% over the years.

What are the other streets in Tondaiarpet with similar guideline values?

Other streets in Tondaiarpet with similar guideline values include North Mada Street and North Mada Street Extension, both at Rs 3,800 per sq.ft as of 2024.

What are the stamp duty and registration fees for properties in North MadaKoil Street?

For a property valued at Rs 38,00,000, the stamp duty would be Rs 2,66,000 and the registration fee would be Rs 76,000, totaling Rs 3,42,000.

Which office handles the registration for North MadaKoil Street?

The registration for North MadaKoil Street is handled by the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.