Guideline Value for East Mada Veedhi

East Mada Veedhi guideline value

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

How the guideline value of East Mada Veedhi has changed

Over the years, the guideline value of East Mada Veedhi has seen significant changes. The 2007 revision listed the value at Rs 1,000 per sq.ft, which increased to Rs 2,345 per sq.ft in 2017, marking a change of +135%. The value rose further to Rs 3,500 per sq.ft in 2023, reflecting an increase of +49%. The most recent revision in 2024 set the value at Rs 3,900 per sq.ft, an increase of +11% from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2012 for this street. Overall, from 2007 to 2024, the guideline value has increased by +290%.

Guideline values in Nandhambakkam

Nandhambakkam has a range of guideline values across its 76 streets under the Alandur SRO, with values ranging from Rs 2,200 to Rs 8,300 per sq.ft. The median guideline value for the area is Rs 3,900 per sq.ft, which is the same as the current value for East Mada Veedhi.

• East Mada Street: 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 Veedhi

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, bringing the total fees to 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 precise calculations.

Which Sub Registrar Office covers East Mada Veedhi?

The East Mada Veedhi falls under the jurisdiction of the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. For more information, you can find your SRO.

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

The guideline value is a crucial factor in property transactions in Nandhambakkam. It serves as a benchmark for the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees that are mandatory during the sale or purchase of any property.

When buying or selling property, it is essential to consider the guideline value as it impacts the overall cost of registration. Buyers should ensure that the sale price is not lower than the guideline value to avoid any legal complications during the registration process.

Frequently asked questions

What is the current guideline value of East Mada Veedhi?

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

How much has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 1,000 per sq.ft to Rs 3,900 per sq.ft in 2024, showing an overall increase of +290%.

What is the land classification of East Mada Veedhi?

East Mada Veedhi is classified as Residential Class II Type - I.

Where can I find the Sub Registrar Office for East Mada Veedhi?

The Alandur Sub Registrar Office covers East Mada Veedhi, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is the stamp duty calculated for properties in Nandhambakkam?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 39,00,000, the stamp duty at 7% would be Rs 2,73,000.