Guideline Value for S.S.V.Koil St ( Ward No.8 )

S.S.V.Koil St ( Ward No.8 ) guideline value

The current guideline value of S.S.V.Koil St ( Ward No.8 ) 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.V.Koil St ( Ward No.8 ) has changed

Over the years, the guideline value of S.S.V.Koil St has seen several revisions. The 2012 revision set the value at Rs 1,200 per sq.ft, which was then reduced to Rs 804 per sq.ft in 2017. Following that, the value increased to Rs 1,200 per sq.ft in 2023 and finally reached Rs 1,300 per sq.ft in the 2024 revision. Notably, there are no figures in the register for the years 2002, 2003, and 2007 for this street.

In terms of percentage changes, the guideline value increased by 49% from 2017 to 2023, while it decreased by 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 8%.

Guideline values in Madhavaram

In Madhavaram, 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. The median value for these streets is Rs 1,600 per sq.ft, indicating that S.S.V.Koil St's 2024 figure is below this median.

• S.S. Vasan Street: Rs 1,300 per sq.ft (2024)
• S.S. Nagar (Ward-02): Rs 1,300 per sq.ft (2024)
• S.S. Nagar (Ward-01): Rs 1,300 per sq.ft (2024)
• S.S. Koil Street: Rs 1,300 per sq.ft (2024)
• St. Francis Colony: Rs 2,200 per sq.ft (2024)
• St.Francis Colony ( Ward No.19 ): Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in S.S.V.Koil St ( Ward No.8 )

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

Which Sub Registrar Office covers S.S.V.Koil St ( Ward No.8 )?

The S.S.V.Koil St ( Ward No.8 ) is covered by 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 serves as a benchmark for property transactions in Madhavaram. When buying or selling property, it is essential to refer to this value as it determines the stamp duty and registration fees applicable during the registration process.

At the time of registration, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of S.S.V.Koil St ( Ward No.8 )?

The current guideline value of S.S.V.Koil St ( Ward No.8 ) 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 2012 to Rs 804 per sq.ft in 2017, then increased to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,300 per sq.ft in 2024.

What is the land classification for S.S.V.Koil St ( Ward No.8 )?

S.S.V.Koil St ( Ward No.8 ) is classified as Residential Class III Type - I.

Where can I find the Madhavaram Sub Registrar Office?

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.V.Koil St ( Ward No.8 )?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000.