Guideline Value for MADAM STREET

Madam Street guideline value

The current guideline value of Madam Street in Pudupet village is Rs 500 per sq.ft, effective from 1 July 2024. This street falls under the Pallipattu SRO and is classified as Residential Special Type - II.

How the guideline value of Madam Street has changed

The guideline value for Madam Street has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 500 per sq.ft, which remains unchanged from the 2023 revision. Prior to that, in 2017, the guideline value was Rs 402 per sq.ft, marking a 24% increase from 2017 to 2023, and an overall increase of 24% from 2017 to 2024.

There are no figures available for the years 2002, 2003, 2007, and 2012 in the register for Madam Street. Thus, the only revisions that provide a guideline value are from 2017, 2023, and 2024.

Guideline values in Pudupet

In Pudupet, there are 42 streets under the Pallipattu SRO that have a guideline value for 2024, ranging from Rs 102 to Rs 600 per sq.ft, with a median value of Rs 350 per sq.ft. Madam Street's 2024 guideline value of Rs 500 per sq.ft is above this median.

• Main Road: Rs 600 per sq.ft (2024)
• Kulakarai Street: Rs 350 per sq.ft (2024)
• Meyanstreet: Rs 126 per sq.ft (2024)
• Kollapuriyamman Koilstreet: Rs 500 per sq.ft (2024)
• K.K. Nagar: Rs 200 per sq.ft (2024)
• Munireddykandigai: Rs 126 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 500 per sq.ft, the total guideline value amounts to Rs 5,00,000. The stamp duty at 7% would be Rs 35,000, and the registration fee at 2% would be Rs 10,000, totaling Rs 45,000. It is important to note that the 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 Pallipattu Sub Registrar Office, located at Nagiri Road, Surajapettai, Pallipattu Taluk, Thiruvallur District-631 207, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Pudupet. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When registering a property, the guideline value is referenced to ensure that the appropriate taxes are assessed. Buyers and sellers must be aware of this value as it directly impacts the costs associated with property transactions.

Frequently asked questions

What is the current guideline value of Madam Street?

The current guideline value of Madam Street is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value of Madam Street changed over the years?

The guideline value has changed from Rs 402 per sq.ft in 2017 to Rs 500 per sq.ft in 2024, reflecting a 24% increase over this period. There were no figures available for the years 2002, 2003, 2007, and 2012.

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

For a property valued at Rs 5,00,000, the stamp duty would be Rs 35,000 and the registration fee would be Rs 10,000, totaling Rs 45,000. These fees are based on the higher of the guideline value or the sale price.

Which Sub Registrar Office covers Madam Street?

The Pallipattu Sub Registrar Office covers Madam Street, located at Nagiri Road, Surajapettai, Pallipattu Taluk, Thiruvallur District-631 207, Chennai registration zone.

What is the land classification of Madam Street?

Madam Street is classified as Residential Special Type - II, indicating its designation for residential use within the area.