Guideline Value for MAADA STREET

Maada Street guideline value

The current guideline value of Maada Street is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Korattur village under the Villivakkam SRO, classified as Residential Class III Type - III.

How the guideline value of Maada Street has changed

The guideline value for Maada Street has seen revisions over the years. The 2012 revision recorded a value of Rs 1,500 per sq.ft. From 2012 to the 2024 revision, the guideline value increased by 7%, resulting in the current value of Rs 1,600 per sq.ft. The register has no figures for the years 2002, 2003, 2007, 2017, and 2023 for this street.

In summary, the only recorded revisions for Maada Street are from 2012 and the current 2024 revision. The earlier years have no figures available in the register.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 8,200 per sq.ft. The median value for these streets is Rs 2,500 per sq.ft, indicating that Maada Street's 2024 figure is below this median.

• Ma.Chandran Nagar: Rs 1,300 per sq.ft (2024)
• Madhanakuppam Road: Rs 2,100 per sq.ft (2024)
• Madhava Nagar: Rs 1,300 per sq.ft (2024)
• Maduravoyal Service Road: Rs 2,900 per sq.ft (2024)
• Mahalakshmi Nagar: Rs 1,600 per sq.ft (2024)
• Lakshmi Nagar: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Maada Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, totaling Rs 1,44,000. 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 more details.

Which Sub Registrar Office covers Maada Street?

The Sub Registrar Office that covers Maada Street is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Korattur. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the government collects appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the legal framework of the transaction. It is essential to be aware of the current guideline value to ensure compliance with local regulations and to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Maada Street?

The current guideline value of Maada Street is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 1,500 per sq.ft in 2012 to Rs 1,600 per sq.ft in 2024, marking a 7% increase. There are no figures available for the years 2002, 2003, 2007, 2017, and 2023 for this street.

What is the median guideline value in Korattur?

The median guideline value for streets in Korattur is Rs 2,500 per sq.ft. Maada Street's current value is below this median.

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. The registration fee is charged at 2% of the guideline value.

Where is the Sub Registrar Office for Maada Street located?

The Villivakkam Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.