Guideline Value for S.P. KOIL NORTH MADA VEETHI

S.P. Koil North Mada Veethi guideline value

The current guideline value of S.P. Koil North Mada Veethi is Rs 5,300 per sq.ft, effective from 1 July 2024. This street is located in Puliyur village under the Kodambakkam SRO and is classified as Residential Class II Type - I.

How the guideline value of S.P. Koil North Mada Veethi has changed

The guideline value for S.P. Koil North Mada Veethi has undergone several revisions over the years. In 2007, the guideline value was Rs 1,500 per sq.ft, which increased significantly to Rs 4,900 per sq.ft in 2012, marking a rise of 227%. However, it then decreased to Rs 3,283 per sq.ft in 2017, a decline of 33%. The value saw a substantial increase to Rs 4,900 per sq.ft in 2023, followed by another rise to Rs 5,300 per sq.ft in 2024, reflecting an 8% increase.

From 2017 to 2023, there was a notable increase of 49%. Overall, from 2007 to 2024, the guideline value has increased by 253%. The register has no figures for the years 2002 and 2003 regarding this street.

Guideline values in Puliyur

In Puliyur village, there are 648 streets under the Kodambakkam SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 14,300 per sq.ft. The median guideline value in this area is Rs 5,800 per sq.ft, placing S.P. Koil North Mada Veethi's 2024 figure below the median.

• Sowrashtra Nagar Main Road: Rs 7,100 per sq.ft (2024)
• Sowrashtra Nagar 9th Street: Rs 7,100 per sq.ft (2024)
• Sowrashtra Nagar 8th Street: Rs 7,100 per sq.ft (2024)
• Sowrashtra Nagar 7th Street: Rs 7,100 per sq.ft (2024)
• Sowrashtra Nagar 6th Street: Rs 7,100 per sq.ft (2024)
• Sowrashtra Nagar 5th Street: Rs 7,100 per sq.ft (2024)

Stamp duty and registration fee for property in S.P. Koil North Mada Veethi

For a 1,000 sq.ft plot at the current guideline value of Rs 5,300 per sq.ft, the total guideline value amounts to Rs 53,00,000. The stamp duty at 7% would be Rs 3,71,000, and the registration fee at 2% would be Rs 1,06,000, bringing the total cost for these charges to Rs 4,77,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers S.P. Koil North Mada Veethi?

The Sub Registrar Office that covers S.P. Koil North Mada Veethi is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value is a critical factor in property transactions in Puliyur. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the stamp duty and registration fees are calculated 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 S.P. Koil North Mada Veethi?

The current guideline value of S.P. Koil North Mada Veethi is Rs 5,300 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 1,500 per sq.ft in 2007 to Rs 5,300 per sq.ft in 2024, reflecting an overall increase of 253% over the years.

What are the other streets in Puliyur with their guideline values?

Other streets in Puliyur under the Kodambakkam SRO have guideline values ranging from Rs 7,100 per sq.ft, such as Sowrashtra Nagar Main Road and Sowrashtra Nagar 9th Street.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 53,00,000 would incur a stamp duty of Rs 3,71,000 and a registration fee of Rs 1,06,000.

Where is the Kodambakkam Sub Registrar Office located?

The Kodambakkam Sub Registrar Office is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.