Guideline Value for MADAM STREET

Madam Street guideline value

The current guideline value of Madam Street in Podaturpet village, under the Pallipattu SRO, is Rs 202 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class III Type - I land classification.

How the guideline value of Madam Street has changed

The guideline value for Madam Street has seen notable changes over the years. In the 2017 revision, the value was Rs 100 per sq.ft. This increased significantly to Rs 200 per sq.ft in the 2023 revision, marking a 100% rise. The latest revision in 2024 set the value at Rs 202 per sq.ft, reflecting a 1% increase from the previous year.

It is important to note that there are no figures available for Madam Street in the revisions from the years 2002, 2003, 2007, and 2012. Overall, from 2017 to 2024, the guideline value has increased by 102%.

Guideline values in Podaturpet

In Podaturpet, there are 47 streets under the Pallipattu SRO with a 2024 guideline value ranging from Rs 100 to Rs 300 per sq.ft. The median value among these streets is Rs 250 per sq.ft, indicating that Madam Street's current guideline value is below this median.

• Malepothatur Reddy Street: Rs 126 per sq.ft (2024)
• Mangalam Kezhar Street: Rs 250 per sq.ft (2024)
• Kudiyanavar Street: Rs 250 per sq.ft (2024)
• Meenakshi Nagar: Rs 200 per sq.ft (2024)
• Krishna Nandhar Street: Rs 250 per sq.ft (2024)
• Mettu Street: Rs 202 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 202 per sq.ft, the total guideline value amounts to Rs 2,02,000. The stamp duty at 7% would be Rs 14,140, and the registration fee at 2% would be Rs 4,040, bringing the total to Rs 18,180. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Madam Street?

The Sub Registrar Office that covers Madam Street is the Pallipattu Sub Registrar Office, located at Nagiri Road, Surajapettai, Pallipattu Taluk, Thiruvallur District-631 207. For more information, you can find your SRO.

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

The guideline value plays a crucial role during the registration process when buying or selling property in Podaturpet. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that the transaction is recorded accurately.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Madam Street?

The current guideline value of Madam Street is Rs 202 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 100 per sq.ft in 2017 to Rs 200 per sq.ft in 2023, and then to Rs 202 per sq.ft in 2024. Overall, this represents a 102% increase from 2017 to 2024.

Are there any years without a guideline value for Madam Street?

Yes, there are no figures available for Madam Street in the revisions from the years 2002, 2003, 2007, and 2012.

What is the registration office for Madam Street?

The registration office for Madam Street is the Pallipattu Sub Registrar Office, located at Nagiri Road, Surajapettai, Pallipattu Taluk, Thiruvallur District-631 207.

How is the stamp duty calculated for properties in Podaturpet?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a plot valued at Rs 2,02,000, the stamp duty would be 7% of that amount, along with a registration fee of 2%.