Guideline Value for NORTH MADA STREET

North Mada Street guideline value

The current guideline value of North Mada Street in Thiruporur village is Rs 880 per sq.ft, effective from 1 July 2024. This street falls under the Thiruporur SRO and is classified as Residential Class I Type - I.

How the guideline value of North Mada Street has changed

The guideline value for North Mada Street has undergone several revisions over the years. In 2002, the value was Rs 136 per sq.ft, which increased to Rs 180 per sq.ft in 2003, marking a 32% rise. The value then rose to Rs 300 per sq.ft in 2007, a significant increase of 67%. Following this, the value jumped to Rs 800 per sq.ft in 2012, reflecting a 167% increase. However, it decreased to Rs 536 per sq.ft in 2017, a drop of 33%. The value was then revised to Rs 800 per sq.ft in 2023, and most recently, it has been set at Rs 880 per sq.ft for 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 547%. There are no figures available for the revisions of the years not mentioned in the register 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 value is Rs 880 per sq.ft, which is equal to the current guideline value of North Mada Street.

• Old Mamallapuram Salai: Rs 2,205 per sq.ft (2024)
• Padavattamman Koil Street: Rs 495 per sq.ft (2024)
• Navidan @ New Street: Rs 880 per sq.ft (2024)
• Narayani Nagar: Rs 1,870 per sq.ft (2024)
• Panguni Medu: Rs 495 per sq.ft (2024)
• Police Line Street: Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in North Mada Street

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

Which Sub Registrar Office covers North Mada Street?

The Sub Registrar Office that covers North Mada 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 plays a crucial role in the registration process of property transactions in Thiruporur. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. The fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the government receives the appropriate revenue from property transactions.

When selling property, the guideline value helps establish a baseline for negotiations between buyers and sellers. It provides a reference point that reflects the official valuation of the property, ensuring transparency in the transaction process.

Frequently asked questions

What is the current guideline value of North Mada Street?

The current guideline value of North Mada Street is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 136 per sq.ft in 2002 to Rs 880 per sq.ft in 2024, showing an overall increase of 547% over the years.

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

For a 1,000 sq.ft plot, the stamp duty would be Rs 61,600 and the registration fee would be Rs 17,600, totaling Rs 79,200 based on the current guideline value.

Which Sub Registrar Office covers North Mada Street?

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

What is the land classification for North Mada Street?

North Mada Street is classified as Residential Class I Type - I, indicating its designation for residential purposes within the Thiruporur SRO.