Guideline Value for NORTH MADA VEEDHI

North Mada Veedhi guideline value

The current guideline value for North Mada Veedhi is Rs 550 per sq.ft, effective from 1 July 2024. This street is located in Thirukkachur - 1 village under the Chengleput Joint II SRO, classified as Residential Class I Type - II.

How the guideline value of North Mada Veedhi has changed

In the 2012 revision, the guideline value was Rs 500 per sq.ft. This figure remained unchanged until the 2017 revision, where it decreased to Rs 335 per sq.ft, marking a drop of 33%. The value then increased significantly in the 2023 revision to Rs 500 per sq.ft, followed by another increase to Rs 550 per sq.ft in the 2024 revision, which is a 10% rise from the previous year.

From the 2017 revision to 2023, the guideline value rose by 49%. Overall, from 2012 to 2024, there has been a 10% increase in the guideline value. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Thirukkachur - 1

In Thirukkachur - 1, there are 86 streets under the Chengleput Joint II SRO with a 2024 guideline value ranging from Rs 385 to Rs 3,300 per sq.ft. The median value is Rs 660 per sq.ft, and North Mada Veedhi's 2024 figure is below this median.

• Om Sakthi Nagar: Rs 1,100 per sq.ft (2024)
• Nanu Nagar Part-I: Rs 550 per sq.ft (2024)
• Nanu Nagar: Rs 385 per sq.ft (2024)
• Pallar Street: Rs 550 per sq.ft (2024)
• Periyar Nagar 1st Cross Street: Rs 660 per sq.ft (2024)
• Periyar Nagar 2nd Cross Street: Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in North Mada Veedhi

For a 1,000 sq.ft plot at the current rate of Rs 550 per sq.ft, the guideline value amounts to Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, bringing the total to Rs 49,500. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers North Mada Veedhi?

The Sub Registrar Office covering North Mada Veedhi is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Thirukkachur - 1

The guideline value is a critical factor in property transactions in Thirukkachur - 1, as it determines the minimum value at which a property can be registered. It is used to calculate the stamp duty and registration fees applicable during the sale or purchase of property.

When buying or selling property, the guideline value serves as a reference point for both parties. It ensures that the transaction is recorded fairly and transparently, reflecting the official valuation set by the authorities.

Frequently asked questions

What is the current guideline value for North Mada Veedhi?

The current guideline value for North Mada Veedhi is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, from Rs 500 per sq.ft in 2012 to Rs 335 per sq.ft in 2017, and then back up to Rs 500 per sq.ft in 2023, before reaching Rs 550 per sq.ft in 2024.

What are the guideline values for other streets in Thirukkachur - 1?

Other streets in Thirukkachur - 1 have varying guideline values, with Om Sakthi Nagar at Rs 1,100 per sq.ft and Nanu Nagar at Rs 385 per sq.ft, among others.

What fees are associated with property transactions in North Mada Veedhi?

For property transactions in North Mada Veedhi, the stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher.

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

The Sub Registrar Office for North Mada Veedhi is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, under the Chengleput Joint II registration zone.