Guideline Value for North Mada Street (Kurungaleeswarar Koil)

North Mada Street (Kurungaleeswarar Koil) guideline value

The current guideline value of North Mada Street (Kurungaleeswarar Koil) is Rs 3,800 per sq.ft, effective from 1 July 2024. This street is located in Koyakbedu village, under the AnnaNagar SRO, and is classified as Residential Class II Type - III.

How the guideline value of North Mada Street (Kurungaleeswarar Koil) has changed

The guideline value for North Mada Street has undergone several revisions over the years. In 2007, the guideline value was Rs 1,400 per sq.ft, which increased significantly to Rs 3,500 per sq.ft in 2012. However, it then decreased to Rs 2,345 per sq.ft in 2017. The value saw a substantial rise to Rs 3,500 per sq.ft in 2023, before reaching the current value of Rs 3,800 per sq.ft in 2024.

From 2017 to 2023, there was an increase of 49%, while the change from 2012 to 2017 was a decrease of 33%. Notably, the guideline value rose by 150% from 2007 to 2012, and overall, from 2007 to 2024, there has been a total increase of 171%. The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Koyakbedu

In Koyakbedu, there are 270 streets under the AnnaNagar SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 16,500 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, indicating that North Mada Street's current value is below this median.

• New Street: Rs 3,300 per sq.ft (2024)
• New Colony: Rs 3,300 per sq.ft (2024)
• Palani Andavar Colony: Rs 3,300 per sq.ft (2024)
• Palani Andavar Colony 2nd Street: Rs 3,300 per sq.ft (2024)
• Palani Andavar Colony Ist Street: Rs 3,300 per sq.ft (2024)
• Nehru Nagar: Rs 7,700 per sq.ft (2024)

Stamp duty and registration fee for property in North Mada Street (Kurungaleeswarar Koil)

For a 1,000 sq.ft plot at the current guideline value of Rs 3,800 per sq.ft, the total guideline value amounts to Rs 38,00,000. The stamp duty at 7% would be Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, bringing the total fees together to Rs 3,42,000. It is 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 (Kurungaleeswarar Koil)?

The North Mada Street (Kurungaleeswarar Koil) falls under the jurisdiction of the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for further assistance.

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

The guideline value is a critical factor during property transactions in Koyakbedu, as it determines the minimum value at which properties can be registered. 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 ensures that the government receives the appropriate revenue from property transactions, and it also provides a standardized method for valuing properties in the area. Buyers and sellers should be aware of the current guideline value to ensure compliance with registration requirements.

Frequently asked questions

What is the current guideline value of North Mada Street (Kurungaleeswarar Koil)?

The current guideline value of North Mada Street (Kurungaleeswarar Koil) is Rs 3,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,400 per sq.ft in 2007 to Rs 3,800 per sq.ft in 2024, reflecting an overall increase of 171% over this period.

What is the land classification for North Mada Street (Kurungaleeswarar Koil)?

North Mada Street (Kurungaleeswarar Koil) is classified as Residential Class II Type - III.

Where can I find the AnnaNagar Sub Registrar Office?

The AnnaNagar Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office).

How is stamp duty calculated for properties in Koyakbedu?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 38,00,000, the stamp duty would be Rs 2,66,000.