Guideline Value for East Mada Street

East Mada Street guideline value

The current guideline value of East Mada Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Nandhambakkam village under the Alandur SRO, classified as Residential Class II Type - I.

How the guideline value of East Mada Street has changed

The guideline value for East Mada Street has seen several revisions over the years. In 2007, the value was Rs 1,000 per sq.ft, which increased significantly to Rs 3,500 per sq.ft in 2012. However, this value dropped to Rs 2,345 per sq.ft in 2017, marking a decrease of 33%. From 2017 to 2023, the value rose sharply by 49% to reach Rs 3,500 per sq.ft, and the latest revision in 2024 set it at Rs 3,900 per sq.ft, reflecting an increase of 11%.

It is important to note that the register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 290%.

Guideline values in Nandhambakkam

Nandhambakkam has a total of 76 streets under the Alandur SRO, with the 2024 guideline values ranging from Rs 2,200 to Rs 8,300 per sq.ft. The median value for these streets is Rs 3,900 per sq.ft, which is equal to the guideline value of East Mada Street.

• East Mada Veedhi: Rs 3,900 per sq.ft (2024)
• East Kulakkarai Street: Rs 3,900 per sq.ft (2024)
• Eshwaran Koil Street: Rs 3,900 per sq.ft (2024)
• Ganapathi Nagar first Street: Rs 3,900 per sq.ft (2024)
• Ganapathi Puram 2nd Street: Rs 3,900 per sq.ft (2024)
• Ganapathipuram 3rd Street: Rs 3,900 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 3,900 per sq.ft, the total guideline value amounts to Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, making the total charges Rs 3,51,000. 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 detailed calculations.

Which Sub Registrar Office covers East Mada Street?

The Sub Registrar Office that covers East Mada Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Nandhambakkam. It serves as a benchmark for determining the minimum value of the property for registration purposes, ensuring that the transaction is recorded at an appropriate value.

When you register a property, 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 correct revenue from property transactions.

Frequently asked questions

What is the current guideline value of East Mada Street?

The current guideline value of East Mada Street is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2007 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of 290%.

What is the Alandur SRO?

The Alandur SRO is the Sub Registrar Office responsible for property registrations in the Alandur area, including Nandhambakkam village.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 39,00,000, the total fees would amount to Rs 3,51,000.

Where can I find more information about the guideline values?

You can find more information about the guideline values from the Registration Department's guideline value register (TNReginet).