Guideline Value for East Mada Street

East Mada Street guideline value

The current guideline value of East Mada Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Aminjikarai village and falls under the AnnaNagar SRO, classified as Residential Class II Type - II.

How the guideline value of East Mada Street has changed

The guideline value for East Mada Street has undergone several revisions over the years. In 2007, the value was Rs 1,200 per sq.ft, which increased significantly to Rs 4,000 per sq.ft in 2012, marking a rise of 233%. However, from 2012 to 2017, the value decreased to Rs 2,680 per sq.ft, reflecting a decline of 33%. The value then saw a substantial increase to Rs 4,000 per sq.ft in 2023, a rise of 49% from the previous figure.

The most recent revision in 2024 set the guideline value at Rs 4,400 per sq.ft, representing a 10% increase from the 2023 figure. Overall, from 2007 to 2024, the guideline value has increased by 267%. Notably, there are no figures available for the revisions in 2002 and 2003 for this street.

Guideline values in Aminjikarai

Aminjikarai has a total of 99 streets under the AnnaNagar SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 16,500 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, which aligns with the 2024 figure for East Mada Street.

• East Mada Lane: Rs 4,400 per sq.ft (2024)
• East Park Road: Rs 14,300 per sq.ft (2024)
• East Club Road: Rs 14,300 per sq.ft (2024)
• East Arasamaram Street: Rs 4,400 per sq.ft (2024)
• Gajalakshmi Colony: Rs 5,500 per sq.ft (2024)
• Gajapathy Lane: Rs 5,500 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 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total charges to Rs 3,96,000. 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 details.

Which Sub Registrar Office covers East Mada Street?

The East Mada Street falls under the jurisdiction of the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Aminjikarai. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold. Buyers and sellers must be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

When engaging in property transactions, it is essential to understand that the guideline value is periodically revised and reflects the prevailing market conditions. Therefore, staying updated with the latest figures is important for accurate financial planning during 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 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, increasing from Rs 1,200 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, an overall increase of 267%.

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

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total charges would amount to Rs 3,96,000.

Which Sub Registrar Office covers East Mada Street?

The AnnaNagar Sub Registrar Office covers East Mada Street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the guideline value used in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It is essential to calculate these fees based on the higher of the guideline value or the sale price.