Guideline Value for East Mada Street

East Mada Street guideline value

The current guideline value of East Mada Street is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village under the Selaiyur SRO, classified as Residential Class I 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 2012, the value was set at Rs 1,600 per sq.ft. This figure remained unchanged until the 2017 revision, where it decreased to Rs 1,072 per sq.ft, marking a decline of 33%. The value then rose to Rs 1,600 per sq.ft in the 2023 revision, and subsequently increased to Rs 1,700 per sq.ft in the 2024 revision, reflecting a 6% increase.

From 2017 to 2023, the guideline value saw a significant increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 6%. The register does not provide figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO, with guideline values in 2024 ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value for these streets is Rs 2,400 per sq.ft, placing East Mada Street's 2024 figure below this median.

• East Main Road: Rs 1,300 per sq.ft (2024)
• Dwaragapuri: Rs 2,750 per sq.ft (2024)
• Erattaimalai Srinivasan Street: Rs 1,300 per sq.ft (2024)
• Esthar Garden 1st Cross Street: Rs 1,900 per sq.ft (2024)
• Esthar Garden 1st Street: Rs 1,900 per sq.ft (2024)
• Esthar Garden 2nd Cross Street: Rs 1,900 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 1,700 per sq.ft, the total guideline value amounts to Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total to Rs 1,53,000. 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 further assistance.

Which Sub Registrar Office covers East Mada Street?

The Sub Registrar Office that covers East Mada Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Madambakkam. It serves as a benchmark for determining the minimum value of a property for registration purposes. Buyers and sellers must consider this value to ensure compliance with local regulations during property transactions.

When registering a property, the guideline value influences the calculation of stamp duty and registration fees. The fees are based on the higher of the guideline value or the sale price, ensuring that the government receives appropriate 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 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,600 per sq.ft in 2012 to Rs 1,072 per sq.ft in 2017, then to Rs 1,600 per sq.ft in 2023, and finally to Rs 1,700 per sq.ft in 2024.

What is the median guideline value in Madambakkam?

The median guideline value for streets in Madambakkam is Rs 2,400 per sq.ft, which is above the current value of East Mada Street.

What are the stamp duty rates for properties in East Mada Street?

The stamp duty for properties in East Mada Street is charged at 7% of the guideline value or sale price, whichever is higher.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.