Guideline Value for S.S. Koil Street

S.S. Koil Street guideline value

The current guideline value of S.S. Koil Street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class III Type - I.

How the guideline value of S.S. Koil Street has changed

Looking at the historical revisions, the guideline value for S.S. Koil Street was Rs 1,200 per sq.ft in 2023, which increased by 8% to Rs 1,300 per sq.ft in 2024. Prior to that, in 2017, the value was Rs 804 per sq.ft, marking a significant increase of 49% to reach Rs 1,200 per sq.ft in 2012. The register has no figures for the years 2002, 2003, and 2007.

In summary, the guideline value has transitioned from Rs 1,200 per sq.ft in 2012 to Rs 1,300 per sq.ft in 2024, reflecting an overall increase of 8% over this period. The value saw a decrease of 33% from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017.

Guideline values in Madhavaram

In Madhavaram village, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft, with a median value of Rs 1,600 per sq.ft. S.S. Koil Street's 2024 guideline value is below this median.

• S.S. Nagar (Ward-01): Rs 1,300 per sq.ft (2024)
• S.S. Nagar (Ward-02): Rs 1,300 per sq.ft (2024)
• S.S. Vasan Street: Rs 1,300 per sq.ft (2024)
• S.S.V.Koil St ( Ward No.8 ): Rs 1,300 per sq.ft (2024)
• Sri Vinayaga Nagar Extension: Rs 1,600 per sq.ft (2024)
• Sri Vinayaga Nagar: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in S.S. Koil Street

For a 1,000 sq.ft plot at the current rate of Rs 1,300 per sq.ft, the guideline value totals 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. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers S.S. Koil Street?

The Sub Registrar Office that covers S.S. Koil Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property in Madhavaram. It serves as a benchmark for determining the minimum value of the property for registration purposes, ensuring that the transaction is recorded at a fair value.

When buying or selling property, the guideline value is used to calculate applicable duties and fees. This ensures that both the buyer and seller are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of S.S. Koil Street?

The current guideline value of S.S. 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 changed from Rs 1,200 per sq.ft in 2023 to Rs 1,300 per sq.ft in 2024, and from Rs 804 per sq.ft in 2017 to Rs 1,200 per sq.ft in 2012.

What is the land classification of S.S. Koil Street?

S.S. Koil Street is classified as Residential Class III Type - I.

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

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is the stamp duty calculated for properties in S.S. Koil Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000.