Guideline Value for S.V.Koil st ( Ward No.10 )

S.V.Koil st ( Ward No.10 ) guideline value

The current guideline value of S.V.Koil st ( Ward No.10 ) 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.V.Koil st ( Ward No.10 ) has changed

The guideline value for S.V.Koil st has seen several revisions over the years. In 2012, the guideline value was set at Rs 1,200 per sq.ft. This figure decreased to Rs 804 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 1,200 per sq.ft, representing a 49% rise. The most recent revision in 2024 has further increased the value to Rs 1,300 per sq.ft, an 8% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street.

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 guideline value in the village is Rs 1,600 per sq.ft, placing S.V.Koil st's 2024 figure below this median.

• Surya Road: Rs 1,600 per sq.ft (2024)
• Surya Nagar (Ward-29): Rs 1,300 per sq.ft (2024)
• Surya Nagar Annex extension: Rs 3,300 per sq.ft (2024)
• Surya Nagar: Rs 1,300 per sq.ft (2024)
• Surya Garden (Ward-01): Rs 1,300 per sq.ft (2024)
• Swamy Nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in S.V.Koil st ( Ward No.10 )

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 at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total to Rs 1,17,000. 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 S.V.Koil st ( Ward No.10 )?

The S.V.Koil st ( Ward No.10 ) 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 determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value serves as a reference point for both parties involved in the transaction. It is essential to be aware of the current guideline value to understand the financial implications of the transaction, including the costs associated with registration.

Frequently asked questions

What is the current guideline value of S.V.Koil st ( Ward No.10 )?

The current guideline value of S.V.Koil st ( Ward No.10 ) 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 back 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.V.Koil st ( Ward No.10 )?

S.V.Koil st ( Ward No.10 ) 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 stamp duty calculated for properties in S.V.Koil st ( Ward No.10 )?

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