Guideline Value for EAST MADA STREET

East Mada Street guideline value

The current guideline value for East Mada Street in Puliyur village, under the Kodambakkam SRO, is Rs 5,300 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class II Type - I.

How the guideline value of East Mada Street has changed

The guideline value for East Mada Street has seen significant changes over the years. In the 2002 revision, the value was Rs 736 per sq.ft. This increased to Rs 808 per sq.ft in 2003, marking a rise of approximately 10%. The value continued to rise, reaching Rs 1,300 per sq.ft in 2007, which was an increase of 61%. However, in the 2012 revision, the value dropped to Rs 4,900 per sq.ft, a decrease of 33%. The 2017 revision saw a substantial increase to Rs 3,283 per sq.ft, reflecting a rise of 49% from the previous revision.

In the 2023 revision, the guideline value further increased to Rs 4,900 per sq.ft. The most recent revision in 2024 set the value at Rs 5,300 per sq.ft, which is an 8% increase from 2023. Overall, from 2002 to 2024, the guideline value has increased by 620%.

Guideline values in Puliyur

In Puliyur, there are 648 streets under the Kodambakkam SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 14,300 per sq.ft, with a median value of Rs 5,800 per sq.ft. The guideline value for East Mada Street is below this median.

• Easwara Nagar 1st Street: Rs 4,600 per sq.ft (2024)
• Easwara Nagar 2nd Street: Rs 4,600 per sq.ft (2024)
• Easwara Nagar 3rd Street: Rs 6,300 per sq.ft (2024)
• Easwara Nagar 4th Street: Rs 4,600 per sq.ft (2024)
• Easwara Nagar 5th Street: Rs 4,600 per sq.ft (2024)
• East Avenue: Rs 7,700 per sq.ft (2024)

Stamp duty and registration fee for property in East Mada Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,300 per sq.ft, the total guideline value amounts to Rs 53,00,000. The stamp duty at 7% would be Rs 3,71,000, and the registration fee at 2% would be Rs 1,06,000, totaling Rs 4,77,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers East Mada Street?

The Sub Registrar Office covering East Mada Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Puliyur. It serves as a benchmark for determining the minimum price at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is registered, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of East Mada Street?

The current guideline value of East Mada Street is Rs 5,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 736 per sq.ft in 2002 to Rs 5,300 per sq.ft in 2024, reflecting an overall increase of 620% over this period.

What are the stamp duty and registration fees for property in East Mada Street?

For a property valued at Rs 53,00,000, the stamp duty would be Rs 3,71,000 and the registration fee would be Rs 1,06,000, totaling Rs 4,77,000.

Which office should I visit for registration in Puliyur?

The Kodambakkam Sub Registrar Office is the designated office for property registration in Puliyur, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

What is the land classification for East Mada Street?

The land classification for East Mada Street is Residential Class II Type - I, indicating the type of development allowed in this area.