Guideline Value for Srinivasa Perumal Koil Street

Srinivasa Perumal Koil Street guideline value

The current guideline value of Srinivasa Perumal 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 Srinivasa Perumal Koil Street has changed

The guideline value for Srinivasa Perumal Koil Street has undergone several revisions over the years. In the 2012 revision, the guideline value was set at Rs 1,200 per sq.ft. This figure remained unchanged until the 2023 revision, which also recorded a value of Rs 1,200 per sq.ft. However, in the 2024 revision, the guideline value increased to Rs 1,300 per sq.ft, marking an 8% increase from the previous year.

In summary, from 2012 to 2024, the overall change in the guideline value is an increase of 8%. The register has no figures for the revisions in 2002, 2003, 2007, and 2017 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 for these streets is Rs 1,600 per sq.ft, which means that the guideline value for Srinivasa Perumal Koil Street is below this median.

• Srinivasa Perumal Koil st, connecting Road ( Ward No.7 ): Rs 1,300 per sq.ft (2024)
• Srinivasa Perumal Koil st, ( Ward No.7 ): Rs 1,300 per sq.ft (2024)
• Srinivasa P.K. St (Ward-07): Rs 2,200 per sq.ft (2024)
• Srinivasa Nagar (Ward-11): Rs 2,200 per sq.ft (2024)
• Srinivasa Nagar (Ward-07): Rs 2,200 per sq.ft (2024)
• Srinivasa Nagar, Ponniammanmedu (Ward-21): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Srinivasa Perumal Koil 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 fees to Rs 1,17,000. 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 details on fees applicable to your property transaction.

Which Sub Registrar Office covers Srinivasa Perumal Koil Street?

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

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

The guideline value is a crucial factor in property transactions in Madhavaram, as it determines the minimum price at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with the transaction.

It is essential for buyers and sellers to be aware of the guideline value to ensure compliance with registration norms and to avoid any legal issues during the property transfer process.

Frequently asked questions

What is the current guideline value of Srinivasa Perumal Koil Street?

The current guideline value of Srinivasa Perumal 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 2012 to Rs 1,300 per sq.ft in 2024, reflecting an overall increase of 8% over this period.

What are the registration fees associated with buying property in this area?

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000, and the registration fee would be Rs 26,000, totaling Rs 1,17,000.

Which office handles property registration for Srinivasa Perumal Koil Street?

The Madhavaram Sub Registrar Office handles property registration for Srinivasa Perumal Koil Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

Are there other streets with different guideline values in Madhavaram?

Yes, there are several other streets in Madhavaram with varying guideline values, ranging from Rs 1,300 to Rs 7,500 per sq.ft, with the median being Rs 1,600 per sq.ft.