Guideline Value for North Mada Street Extension

North Mada Street Extension guideline value

The current guideline value of North Mada Street Extension in Tondaiarpet village, under the Royapuram SRO, is Rs 3,800 per sq.ft, effective from 1 July 2024. This area falls under the Commercial Class I Type - I land classification.

How the guideline value of North Mada Street Extension has changed

The guideline value for North Mada Street Extension has undergone several revisions over the years. In 2007, the guideline value was Rs 900 per sq.ft. This increased significantly to Rs 3,500 per sq.ft in 2012, marking a rise of 289%. However, in the 2017 revision, the value decreased to Rs 2,345 per sq.ft, reflecting a decline of 33%. The most recent revision in 2024 saw the value rise to Rs 3,800 per sq.ft, which is a 62% increase from the 2017 figure.

It is important to note that the register does not have figures for the years 2023, 2003, and 2002 for this street. Overall, from 2007 to 2024, the guideline value has increased by 322%.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO, with 2024 guideline values ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median guideline value is Rs 1,600 per sq.ft, placing North Mada Street Extension's 2024 figure above this median.

• North Mada Street: Rs 3,800 per sq.ft (2024)
• North MadaKoil Street: Rs 3,800 per sq.ft (2024)
• North Railway Eriyuttu street: Rs 1,300 per sq.ft (2024)
• North Railway Terminal salai (Harbour Area): Rs 1,300 per sq.ft (2024)
• North Terminus Road: Rs 1,600 per sq.ft (2024)
• New Vinoba Nagar 3rd street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in North Mada Street Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 3,800 per sq.ft, the total guideline value would be 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, resulting in a total cost of Rs 3,42,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers North Mada Street Extension?

The North Mada Street Extension falls under the jurisdiction of the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more information.

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

The guideline value is an essential factor in the registration process for property transactions in Tondaiarpet. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees, which are based on this value or the sale price, whichever is higher. This ensures transparency and compliance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of North Mada Street Extension?

The current guideline value of North Mada Street Extension 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 900 per sq.ft in 2007 to Rs 3,800 per sq.ft in 2024, marking an overall increase of 322% over the years.

What is the land classification for North Mada Street Extension?

North Mada Street Extension is classified as Commercial Class I Type - I.

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

The Sub Registrar Office for North Mada Street Extension is the Royapuram SRO, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

How is the stamp duty calculated for properties in Tondaiarpet?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft property at Rs 3,800 per sq.ft would incur a stamp duty of Rs 2,66,000.