Guideline Value for North Mada Street

North Mada Street guideline value

The current guideline value of North Mada Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Ist Division village, under the Kanchipuram Joint IV SRO, and is classified as Residential Class I Type - I.

How the guideline value of North Mada Street has changed

The guideline value for North Mada Street has undergone several revisions over the years. In 2012, the guideline value was Rs 1,500 per sq.ft. This value remained until the 2017 revision, which saw a decrease to Rs 1,005 per sq.ft, reflecting a -33% change. The value then increased significantly to Rs 1,500 per sq.ft in 2023, marking a 49% increase. The latest revision in 2024 set the guideline value at Rs 1,650 per sq.ft, a 10% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for North Mada Street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Ist Division

In Ist Division, there are 79 streets under the Kanchipuram Joint IV SRO that have a 2024 guideline value ranging from Rs 800 to Rs 3,300 per sq.ft. The median value for these streets is Rs 880 per sq.ft, indicating that North Mada Street's 2024 figure is above this median.

• Nemanthakara Street: Rs 880 per sq.ft (2024)
• Naina Pillai Street: Rs 880 per sq.ft (2024)
• Pattala Street: Rs 1,430 per sq.ft (2024)
• Munram Thiruvizha Mandapam Street: Rs 880 per sq.ft (2024)
• Mudaliar Street @ Vedantham Street: Rs 880 per sq.ft (2024)
• Mottai Kulam 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 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, while the registration fee at 2% would be Rs 33,000. Together, the total cost for these fees would be Rs 1,48,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can calculate your fees using 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 Kanchipuram Joint IV Sub Registrar Office, located at Kamarajar Road, Taluk Office Campus, Kanchipuram-631 501, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Ist Division. It serves as the basis for calculating the stamp duty and registration fees that are required to complete the transaction.

When a property is sold, the buyer must pay stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions within the region.

Frequently asked questions

What is the current guideline value of North Mada Street?

The current guideline value of North Mada Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then back to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What is the land classification of North Mada Street?

North Mada Street is classified as Residential Class I Type - I, indicating its suitability for residential development.

What is the registration office for North Mada Street?

The registration office for North Mada Street is the Kanchipuram Joint IV Sub Registrar Office, located at Kamarajar Road, Taluk Office Campus, Kanchipuram-631 501, Chengalpattu registration zone.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a total fee of Rs 1,48,500.