Guideline Value for Madha Street

Madha Street guideline value

The current guideline value of Madha Street, located in Madambakkam village under the Selaiyur SRO, is Rs 1,100 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 Madha Street has changed

The guideline value for Madha Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,000 per sq.ft, which was then reduced to Rs 670 per sq.ft in the 2017 revision, marking a decrease of 33%. However, the value rose significantly to Rs 1,000 per sq.ft in the 2023 revision, followed by a further increase to Rs 1,100 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year.

There are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft, with a median value of Rs 2,400 per sq.ft. Madha Street's 2024 guideline value is below this median.

• Madhura Nuthanchery: Rs 2,200 per sq.ft (2024)
• Mada Vilaga Street: Rs 1,100 per sq.ft (2024)
• Mada Veethi Street: Rs 1,700 per sq.ft (2024)
• Madambakkam Sudalai Salai: Rs 2,200 per sq.ft (2024)
• Madambakkam-Nuthancheri Main Road: Rs 2,200 per sq.ft (2024)
• Madambakkam Main Road: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Madha Street

For a 1,000 sq.ft plot at the current rate of Rs 1,100 per sq.ft, the guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Madha Street?

The Sub Registrar Office that covers Madha Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Madambakkam. It is the minimum value set by the government for property registration, ensuring that the property is not sold below this value. When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher.

This system helps maintain transparency in property transactions and ensures that the government receives appropriate revenue from property sales. Buyers and sellers should be aware of the guideline values to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Madha Street?

The current guideline value of Madha Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then back to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the land classification for Madha Street?

Madha Street is classified under Residential Class III Type - I according to the guideline value register.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is stamp duty calculated for properties in Madha Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 11,00,000 would incur a stamp duty of Rs 77,000.