Guideline Value for P.K. Street

P.K. Street guideline value

The current guideline value of P.K. Street in Madhavaram village, under the Madhavaram SRO, is Rs 1,300 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class III Type - I land classification.

How the guideline value of P.K. Street has changed

The guideline value for P.K. Street has undergone several revisions over the years. The register shows that the guideline value was Rs 1,200 per sq.ft in 2012, and it remained the same in 2023. The most recent revision in 2024 increased the guideline value to Rs 1,300 per sq.ft, reflecting an 8% increase from the previous year.

Notably, there are no figures available for the years 2002, 2003, 2007, and 2017 for this street. Overall, from 2012 to 2024, the guideline value has increased by 8%.

Guideline values in Madhavaram

Madhavaram village has a total of 1,946 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value for these streets is Rs 1,600 per sq.ft, placing P.K. Street's current value below this median.

• Pillaiyar Koil st (Ward No.9): Rs 1,300 per sq.ft (2024)
• Pillaiyar Koil st (Ward No.12): Rs 1,300 per sq.ft (2024)
• Pillaiyar Koil Street (Ward 18): Rs 1,300 per sq.ft (2024)
• Ponniamman Koil st (Ward No.22): Rs 1,600 per sq.ft (2024)
• Ponniammanmedu 100 Feet Road (Ward-24): Rs 2,200 per sq.ft (2024)
• Ponniamman Medu 1st Cross Street: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in P.K. Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total to Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers P.K. Street?

P.K. Street is covered by the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Madhavaram. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that both buyers and sellers adhere to the established rates.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures transparency and fairness in the property registration process, as these fees are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of P.K. Street?

The current guideline value of P.K. Street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value of P.K. Street changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 1,300 per sq.ft in 2024, marking an 8% increase. There are no figures available for the years 2002, 2003, 2007, and 2017.

What is the median guideline value in Madhavaram?

The median guideline value for streets in Madhavaram is Rs 1,600 per sq.ft. P.K. Street's current value is below this median.

What are the stamp duty and registration fees for property in P.K. Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 13,00,000, resulting in a stamp duty of Rs 91,000 and a registration fee of Rs 26,000, totaling Rs 1,17,000.

Which office handles registrations for P.K. Street?

The Madhavaram Sub Registrar Office handles registrations for P.K. Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.