Guideline Value for EAST MADA VEEDHI

East Mada Veedhi guideline value

The current guideline value of East Mada Veedhi is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Purasaivakkam village, under the Purasaivakkam SRO, and is classified as Residential Class V Type - III.

How the guideline value of East Mada Veedhi has changed

The guideline value for East Mada Veedhi has seen several revisions over the years. In 2007, the guideline value was Rs 650 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012. However, in 2017, it dropped to Rs 1,675 per sq.ft. The value then rose to Rs 2,500 per sq.ft in 2023, and the latest revision in 2024 set the value at Rs 2,700 per sq.ft, reflecting an 8% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 315%. Notably, there are no figures available for the years 2002 and 2003 for this street.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 18,100 per sq.ft. The median guideline value in this area is Rs 5,500 per sq.ft, placing East Mada Veedhi's 2024 figure below that median.

• Edward Park Street: Rs 4,400 per sq.ft (2024)
• Dr. Muniappa Road: Rs 8,800 per sq.ft (2024)
• Emi Street: Rs 4,900 per sq.ft (2024)
• Dr. Azhagappa Chettiar Road: Rs 8,800 per sq.ft (2024)
• Erron Street: Rs 5,500 per sq.ft (2024)
• E.S.I. Hospital Staff Quarters: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in East Mada Veedhi

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, making the total charges Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers East Mada Veedhi?

The Sub Registrar Office covering East Mada Veedhi is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Purasaivakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a property is sold, the guideline value is compared to the sale price, and the higher value is used to calculate the applicable duties and fees. This ensures that the government receives the correct amount of revenue from property transactions.

Frequently asked questions

What is the current guideline value of East Mada Veedhi?

The current guideline value of East Mada Veedhi is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 650 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, with various revisions occurring in between.

What is the median guideline value in Purasaivakkam?

The median guideline value in Purasaivakkam is Rs 5,500 per sq.ft, with East Mada Veedhi's 2024 figure being below this median.

What are the stamp duty rates in East Mada Veedhi?

The stamp duty rate for property transactions in East Mada Veedhi is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for East Mada Veedhi located?

The Purasaivakkam Sub Registrar Office is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.