Guideline Value for EAST MADA STREET

East Mada Street guideline value

The current guideline value of East Mada Street in Thiruporur village, under the Thiruporur SRO, is Rs 880 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class I Type - I.

How the guideline value of East Mada Street has changed

Since the 2002 revision, the guideline value for East Mada Street has seen significant changes. In 2002, the value was Rs 136 per sq.ft, which increased to Rs 152 per sq.ft in 2003, marking a 12% rise. The value then rose to Rs 300 per sq.ft in 2007, a substantial increase of 97%. Following this, the value jumped to Rs 800 per sq.ft in 2012, reflecting a 167% increase. However, it decreased to Rs 536 per sq.ft in 2017, a decline of 33%. The value then rose to Rs 800 per sq.ft in 2023, before reaching the current figure of Rs 880 per sq.ft in 2024, which is a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 547%. There are no figures available for the revisions in years other than those mentioned above.

Guideline values in Thiruporur

In Thiruporur, there are 31 streets under the Thiruporur SRO that carry a 2024 guideline value, ranging from Rs 495 to Rs 4,500 per sq.ft. The median value is Rs 880 per sq.ft, which is equal to the current guideline value of East Mada Street.

• Eri Karai Street: Rs 660 per sq.ft (2024)
• Gandhi Street: Rs 880 per sq.ft (2024)
• Chengalpattu Road: Rs 770 per sq.ft (2024)
• Gokul Avenue: Rs 1,320 per sq.ft (2024)
• Harijan Colony: Rs 495 per sq.ft (2024)
• Illalore Road: Rs 880 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 880 per sq.ft, the total guideline value would be Rs 8,80,000. The stamp duty at 7% would amount to Rs 61,600, and the registration fee at 2% would be Rs 17,600, making a total of Rs 79,200. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers East Mada Street?

The Sub Registrar Office that covers East Mada Street is the Thiruporur Sub Registrar Office, located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone. You can find your SRO for additional information.

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

The guideline value is a crucial factor during the registration of property transactions in Thiruporur. It serves as a benchmark for determining the stamp duty and registration fees payable when buying or selling property.

When a property is registered, the guideline value is compared with the sale price. The higher of the two values is used to calculate the applicable duties and fees, ensuring that the government receives the correct revenue based on the property's worth.

Frequently asked questions

What is the current guideline value of East Mada Street?

The current guideline value of East Mada Street is Rs 880 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2002, the guideline value has increased from Rs 136 per sq.ft to Rs 880 per sq.ft in 2024, reflecting an overall increase of 547%.

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

For a 1,000 sq.ft property at the current guideline value, the total stamp duty would be Rs 61,600, and the registration fee would be Rs 17,600, totaling Rs 79,200.

Which office handles property registrations for East Mada Street?

The Thiruporur Sub Registrar Office handles property registrations for East Mada Street, located at No.29, South Mada Street, Thiruporur-603110.

How does the guideline value affect property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. The higher of the guideline value or the sale price is used for calculating these fees.