Guideline Value for North Mada Street

North Mada Street guideline value

The current guideline value of North Mada Street in Thirumullaivoyal village, under the Ambattur SRO, is Rs 2,400 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class I Type - I land classification.

How the guideline value of North Mada Street has changed

The guideline value for North Mada Street has seen several revisions over the years. In 2002, the value was Rs 139 per sq.ft, which increased to Rs 160 per sq.ft in 2003, marking a rise of 15%. The value then rose to Rs 200 per sq.ft in 2007, a 25% increase from the previous figure. A significant jump occurred in 2012 when the guideline value reached Rs 2,200 per sq.ft, reflecting a remarkable increase of 1,000% from 2007. The value remained unchanged at Rs 2,200 per sq.ft until the 2023 revision.

In 2023, the guideline value was revised to Rs 2,200 per sq.ft, and the latest revision in 2024 set it at Rs 2,400 per sq.ft, which is a 9% increase. The register has no figure for this street in 2017. Overall, from 2002 to 2024, the guideline value has increased by 1,627%.

Guideline values in Thirumullaivoyal

In Thirumullaivoyal village, there are 975 streets under the Ambattur SRO with a 2024 guideline value ranging from Rs 880 to Rs 5,500 per sq.ft. The median guideline value is Rs 2,400 per sq.ft, making North Mada Street's 2024 figure equal to this median.

• North Mada 4th Cross Street: Rs 2,400 per sq.ft (2024)
• North Mada 3rd Cross Street: Rs 2,400 per sq.ft (2024)
• North Mada 2nd Cross Street: Rs 2,400 per sq.ft (2024)
• North Mada 1st Cross Street: Rs 2,400 per sq.ft (2024)
• Old Eswaran Koil Street: Rs 2,400 per sq.ft (2024)
• Newry Sanctum: Rs 2,700 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 rate of Rs 2,400 per sq.ft, the guideline value amounts to Rs 24,00,000. The stamp duty at 7% would be Rs 1,68,000, and the registration fee at 2% would be Rs 48,000, totaling Rs 2,16,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

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 Thirumullaivoyal

The guideline value is an essential factor when registering property transactions in Thirumullaivoyal. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property, ensuring compliance with local regulations.

When buying or selling property, the guideline value helps both parties understand the minimum value at which the property can be registered. It is crucial to consider the guideline value alongside the sale price, as the higher of the two will be used to calculate the applicable duties and fees.

Frequently asked questions

What is the current guideline value of North Mada Street?

The current guideline value of North Mada Street is Rs 2,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 139 per sq.ft in 2002 to Rs 2,400 per sq.ft in 2024, marking an overall increase of 1,627%.

What is the land classification for North Mada Street?

North Mada Street is classified as Residential Class I Type - I, which indicates its designation for residential purposes.

What are the stamp duty rates for properties in North Mada Street?

The stamp duty for properties in North Mada Street is 7% 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 covering North Mada Street is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.