Guideline Value for MADAM STREET

Madam Street guideline value

The current guideline value of Madam Street in Thiruporur village, under the Thiruporur SRO, is Rs 880 per sq.ft as per the 2024 revision effective from 1 July 2024. The land classification for this area is Residential Class I Type - I.

How the guideline value of Madam Street has changed

The guideline value of Madam Street has undergone several revisions over the years. Starting from the 2002 revision, the guideline value was Rs 145 per sq.ft. In 2003, it increased to Rs 162 per sq.ft, marking a 12% rise. The value continued to rise, reaching Rs 300 per sq.ft in 2007, a significant increase of 85%. The 2012 revision saw the value remain at Rs 800 per sq.ft, which was a 167% increase from the previous revision. However, in 2017, the guideline value decreased to Rs 536 per sq.ft, showing a decline of 33%.

From 2017 to 2023, the guideline value saw a substantial increase to Rs 800 per sq.ft, which was a 49% rise. The most recent revision in 2024 set the value at Rs 880 per sq.ft, reflecting a 10% increase from the 2023 figure. There are no figures available for any other revisions for this street.

Guideline values in Thiruporur

In Thiruporur, there are 31 streets under the Thiruporur SRO that carry a 2024 guideline value ranging from Rs 495 to Rs 4,500 per sq.ft. The median guideline value is Rs 880 per sq.ft, which is the same as the current guideline value for Madam Street.

• Narayani Nagar: Rs 1,870 per sq.ft (2024)
• Navidan @ New Street: Rs 880 per sq.ft (2024)
• Kacheri Santhu Street: Rs 770 per sq.ft (2024)
• North Mada Street: Rs 880 per sq.ft (2024)
• Old Mamallapuram Salai: Rs 2,205 per sq.ft (2024)
• Iyampettai Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Madam Street

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value amounts to Rs 8,80,000. The stamp duty at 7% would be Rs 61,600, and the registration fee at 2% would be Rs 17,600, totaling Rs 79,200. It is important to note that the stamp duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Madam Street?

The Sub Registrar Office that covers Madam Street is the Thiruporur Sub Registrar Office, located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor when registering property transactions in Thiruporur. It serves as the basis for calculating stamp duty and registration fees, ensuring that these costs are aligned with the official valuation of the property.

When buying or selling property, the guideline value provides a standardized measure that helps both parties understand the financial implications of the transaction. It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of Madam Street?

The current guideline value of Madam Street is Rs 880 per sq.ft as per the 2024 revision effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 145 per sq.ft in 2002 to Rs 880 per sq.ft in 2024, reflecting an overall increase of 507% over the years.

What is the land classification for Madam Street?

Madam Street is classified as Residential Class I Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for a property in Madam Street?

For a property valued at Rs 8,80,000, the stamp duty would be Rs 61,600, and the registration fee would be Rs 17,600, totaling Rs 79,200.

Where is the Sub Registrar Office for Madam Street located?

The Thiruporur Sub Registrar Office is located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone.