Guideline Value for North Mada Street

North Mada Street guideline value

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

How the guideline value of North Mada Street has changed

The guideline value for North Mada Street has seen several revisions over the years. The earliest recorded figure is from 2012, where it was set at Rs 800 per sq.ft. This figure remained the same until the next revision in 2017, where it dropped to Rs 536 per sq.ft, marking a decrease of 33%. In 2023, the value increased significantly to Rs 800 per sq.ft, and in the latest revision for 2024, it rose again to Rs 880 per sq.ft, reflecting a 10% increase from the previous year.

In summary, the guideline value has changed from Rs 800 in 2012 to Rs 880 in 2024, resulting in an overall increase of 10%. Notably, there are no recorded figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Kovilpathagai

Kovilpathagai village has a total of 278 streets under the Ambattur SRO, with guideline values ranging from Rs 803 to Rs 2,900 per sq.ft. The median guideline value for these streets is Rs 870 per sq.ft, placing North Mada Street's 2024 figure above that median.

• N.G.G.O. Nagar: Rs 803 per sq.ft (2024)
• N.S.Mary Kallarai Street: Rs 880 per sq.ft (2024)
• New Mettu Street: Rs 805 per sq.ft (2024)
• Nethaji Street: Rs 880 per sq.ft (2024)
• Palani Street: Rs 880 per sq.ft (2024)
• Nehruji 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 cost for these fees to Rs 79,200. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers North Mada Street?

The Sub Registrar Office that covers North Mada Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Kovilpathagai. It serves as a benchmark for determining the stamp duty and registration fees payable during the transaction.

When a property is registered, the guideline value is compared with the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, ensuring that the transaction is appropriately taxed based on the value determined by the Registration Department.

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 from Rs 800 in 2012 to Rs 880 in 2024, with various revisions in between, including a drop to Rs 536 in 2017 and an increase to Rs 800 in 2023.

What is the land classification for North Mada Street?

North Mada Street is classified as Residential Class II Type - I under the guideline value register.

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

The Sub Registrar Office for North Mada Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is the stamp duty calculated for properties in Kovilpathagai?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 8,80,000 would incur a stamp duty of Rs 61,600 at 7%.