Guideline Value for North Mada Street

North Mada Street guideline value

The current guideline value of North Mada Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Nandhambakkam village under the Alandur SRO and is classified as Residential Class II Type - I.

How the guideline value of North Mada Street has changed

Over the years, the guideline value for North Mada Street has seen significant changes. The 2007 revision set the value at Rs 1,000 per sq.ft, which increased to Rs 3,500 per sq.ft in 2012. However, there was a decrease to Rs 2,345 per sq.ft in 2017. Following this, the value rose to Rs 3,500 per sq.ft in 2023, and the most recent revision in 2024 has set it at Rs 3,900 per sq.ft, marking an 11% increase from the previous year.

Notably, there are no figures available for the revisions in 2002 and 2003 for North Mada Street. The overall change from the 2007 revision to the 2024 revision reflects a substantial increase of 290%.

Guideline values in Nandhambakkam

Nandhambakkam comprises 76 streets under the Alandur SRO, with guideline values ranging from Rs 2,200 to Rs 8,300 per sq.ft. The median guideline value for these streets is Rs 3,900 per sq.ft, which is the same as the current value for North Mada Street.

• North Mada Veedhi: Rs 3,900 per sq.ft (2024)
• Nandampakkam Colony Street: Rs 3,900 per sq.ft (2024)
• Pathmini Garden: Rs 8,300 per sq.ft (2024)
• Muthu Mariyamman Street: Rs 3,300 per sq.ft (2024)
• Mount Poondamalli Road: Rs 8,300 per sq.ft (2024)
• Poonthottam 2nd Street: Rs 3,300 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 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would amount to Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, bringing the total fees to Rs 3,51,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, 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 Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Nandhambakkam. It serves as a benchmark for assessing the value of the property, ensuring that the transaction is recorded accurately in official documents.

When registering a property, buyers 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.

Frequently asked questions

What is the current guideline value of North Mada Street?

The current guideline value of North Mada Street is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,000 per sq.ft in 2007 to Rs 3,900 per sq.ft in 2024, reflecting a total increase of 290% over the years.

What are the other streets in Nandhambakkam with similar guideline values?

Other streets in Nandhambakkam with a guideline value of Rs 3,900 per sq.ft include North Mada Veedhi and Nandampakkam Colony Street.

What fees are associated with buying property in North Mada Street?

When buying property in North Mada Street, buyers need to pay stamp duty at 7% and a registration fee at 2% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for North Mada Street located?

The Sub Registrar Office for North Mada Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.