Guideline Value for NORTH MADA STREET

North Mada Street guideline value

The current guideline value of North Mada Street in Puliyur village, under the Kodambakkam SRO, is Rs 5,300 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - I land classification.

How the guideline value of North Mada Street has changed

The guideline value for North Mada Street has undergone several revisions over the years. The 2007 revision set the value at Rs 1,860 per sq.ft, which increased significantly to Rs 4,900 per sq.ft in the 2012 revision, marking a rise of 163%. However, the value decreased by 33% to Rs 3,283 per sq.ft in the 2017 revision. The 2023 revision saw the value increase to Rs 4,900 per sq.ft, and the most recent 2024 revision has set it at Rs 5,300 per sq.ft, reflecting an 8% increase from the previous year.

There are no figures available for North Mada Street in the 2002 and 2003 revisions. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 185%.

Guideline values in Puliyur

In Puliyur, there are 648 streets under the Kodambakkam SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 14,300 per sq.ft. The median guideline value in the village is Rs 5,800 per sq.ft, placing North Mada Street's 2024 figure below that median.

• N.G.O. Colony Main Road (Vadapalani): Rs 5,000 per sq.ft (2024)
• N.G.O. Colony 4th Cross Street (Choolaimedu): Rs 5,000 per sq.ft (2024)
• N.G.O. Colony 3 Rd Street (Vadapalani): Rs 5,000 per sq.ft (2024)
• N.G.O. Colony 3rd Cross Street (Choolaimedu): Rs 5,000 per sq.ft (2024)
• N.G.O. Colony 2 Nd Street (Vadapalani): Rs 5,000 per sq.ft (2024)
• N.G.O. Colony 2nd Main Road (Choolaimedu): Rs 5,300 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 5,300 per sq.ft, the total guideline value amounts to Rs 53,00,000. The stamp duty at 7% would be Rs 3,71,000, and the registration fee at 2% would be Rs 1,06,000, making the total cost for these fees Rs 4,77,000. It's important to note that the duty is charged on the higher of the guideline value and the sale price. 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 Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration process of property transactions in Puliyur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is registered, the guideline value is compared to the sale price; the higher of the two is used to calculate the applicable fees. This ensures that the registration process is transparent and consistent across properties in the area.

Frequently asked questions

What is the current guideline value of North Mada Street?

The current guideline value of North Mada Street is Rs 5,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 1,860 per sq.ft in 2007 to Rs 5,300 per sq.ft in 2024, which is an overall increase of 185%.

What is the land classification for North Mada Street?

North Mada Street is classified under Residential Class II Type - I land classification.

Where can I find the Sub Registrar Office for North Mada Street?

The Kodambakkam Sub Registrar Office covers North Mada Street and is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

How is the stamp duty calculated for properties on North Mada Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property with a guideline value of Rs 53,00,000 would incur a stamp duty of Rs 3,71,000 at 7%.