Guideline Value for Sundara Vinayagar Koil Street

Sundara Vinayagar Koil Street guideline value

The current guideline value of Sundara Vinayagar 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 Sundara Vinayagar Koil Street has changed

The guideline value for Sundara Vinayagar Koil Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which remained unchanged until the 2023 revision. In 2023, the guideline value was updated to Rs 1,200 per sq.ft, and then increased to Rs 1,300 per sq.ft in the 2024 revision, marking an 8% increase from the previous year.

From 2012 to 2024, the overall change in the guideline value is an increase of 8%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2017 in the register for this street.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO, with the 2024 guideline values 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, placing the 2024 figure for Sundara Vinayagar Koil Street below this median.

• Sundara Varadhan Nagar (Ward-10): Rs 1,300 per sq.ft (2024)
• Sundaravaradan Nagar (Ward-07): Rs 1,300 per sq.ft (2024)
• Sundaramoorthy Salai (Ward-23): Rs 1,300 per sq.ft (2024)
• Sundaram Nagar (Ward-09): Rs 1,300 per sq.ft (2024)
• Sundarababu St. (Ward-11): Rs 1,300 per sq.ft (2024)
• Sumathi Nagar: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Sundara Vinayagar 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, making the total cost for these fees Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can also use the stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Sundara Vinayagar Koil Street?

The Sub Registrar Office that covers Sundara Vinayagar 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 transactions in Madhavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is conducted at a fair rate.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are mandatory costs associated with the registration process. Buyers and sellers should be aware of the guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Sundara Vinayagar Koil Street?

The current guideline value of Sundara Vinayagar 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 1,200 per sq.ft in 2023, and then increased to Rs 1,300 per sq.ft in 2024, marking an overall increase of 8% from 2012 to 2024.

What is the land classification of Sundara Vinayagar Koil Street?

Sundara Vinayagar Koil Street 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 Sundara Vinayagar Koil Street?

Stamp duty is calculated based on 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 at a rate of 7%.