Guideline Value for SOUTH MADA STREET 'MOORTHYSAMY COLONY 1ST STREET'

South Mada Street 'moorthysamy Colony 1st Street' guideline value

The current guideline value of South Mada Street 'moorthysamy Colony 1st Street' is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Padi village under the Villivakkam SRO, classified as Residential Class III Type - III.

How the guideline value of South Mada Street 'moorthysamy Colony 1st Street' has changed

In the 2012 revision, the guideline value was Rs 4,000 per sq.ft. This figure remained until the 2017 revision, where it dropped to Rs 2,680 per sq.ft, marking a decrease of 33%. The value then increased significantly to Rs 4,000 per sq.ft in 2023, followed by another increase to Rs 4,400 per sq.ft in the 2024 revision, which is a 10% rise from the previous year. The register has no figures for the years 2002, 2003, and 2007 for this street.

From 2017 to 2023, there was a substantial increase of 49%, bringing the value back to Rs 4,000 per sq.ft. Overall, from 2012 to 2024, the guideline value has increased by 10%, reflecting changes in the local real estate landscape.

Guideline values in Padi

Padi village has a total of 354 streets under the Villivakkam SRO, with guideline values for 2024 ranging from Rs 2,200 to Rs 13,200 per sq.ft. The median guideline value for these streets is Rs 3,800 per sq.ft, placing South Mada Street 'moorthysamy Colony 1st Street' above this median.

• South Mada Street 'bharathi Nagar': Rs 4,400 per sq.ft (2024)
• South Mada Street 'moorthysamy Colony 2nd Street': Rs 4,400 per sq.ft (2024)
• South Mada Street: Rs 4,400 per sq.ft (2024)
• South Mada Street 'moorthysamy Colony 3rd Street': Rs 4,400 per sq.ft (2024)
• Soundarya Colony: Rs 8,700 per sq.ft (2024)
• Sri Balaji Nagar (S.No.226): Rs 5,400 per sq.ft (2024)

Stamp duty and registration fee for property in South Mada Street 'moorthysamy Colony 1st Street'

For a 1,000 sq.ft plot at the current rate of Rs 4,400 per sq.ft, the guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, totaling Rs 3,96,000. 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 South Mada Street 'moorthysamy Colony 1st Street'?

The Sub Registrar Office that covers South Mada Street 'moorthysamy Colony 1st Street' is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Padi, as it determines the base value for calculating stamp duty and registration fees. When a property is sold or purchased, the higher value between the guideline value and the sale price is used for these calculations.

It is essential for buyers and sellers to be aware of the current guideline values to ensure they are paying the correct fees during the registration process. The guideline value can influence the overall cost of property transactions significantly.

Frequently asked questions

What is the current guideline value for South Mada Street 'moorthysamy Colony 1st Street'?

The current guideline value for South Mada Street 'moorthysamy Colony 1st Street' is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes: from Rs 4,000 per sq.ft in 2012 to Rs 2,680 per sq.ft in 2017, then back to Rs 4,000 per sq.ft in 2023, and finally increasing to Rs 4,400 per sq.ft in 2024.

What is the median guideline value for streets in Padi?

The median guideline value for streets in Padi is Rs 3,800 per sq.ft, which is lower than the current value of South Mada Street 'moorthysamy Colony 1st Street'.

What are the stamp duty and registration fees for a property on this street?

For a 1,000 sq.ft property at the current guideline value, the total stamp duty and registration fees would amount to Rs 3,96,000, based on the guideline value of Rs 44,00,000.

Which office handles registrations for South Mada Street 'moorthysamy Colony 1st Street'?

The Villivakkam Sub Registrar Office handles registrations for South Mada Street 'moorthysamy Colony 1st Street', located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.