Guideline Value for SOUTH MADA STREET 'MOORTHYSAMY COLONY 3RD STREET'

South Mada Street 'moorthysamy Colony 3rd Street' guideline value

The current guideline value of South Mada Street 'moorthysamy Colony 3rd Street' is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Padi village and falls under the Villivakkam SRO. The land classification for this area is Residential Class III Type - III.

How the guideline value of South Mada Street 'moorthysamy Colony 3rd Street' has changed

Looking back at the revisions, the guideline value for South Mada Street 'moorthysamy Colony 3rd Street' was Rs 4,000 per sq.ft in 2023, which marked a significant increase from Rs 2,680 per sq.ft in 2017. This represents a 49% rise over the six-year period. The 2012 revision also recorded a value of Rs 4,000 per sq.ft, but this was a decrease of 33% from the 2017 figure. The register has no figure for this street in the years 2002, 2003, and 2007.

As for the most recent revision, the guideline value increased by 10% from Rs 4,000 per sq.ft in 2023 to Rs 4,400 per sq.ft in 2024. Overall, from 2012 to 2024, the guideline value has seen a modest increase of 10%.

Guideline values in Padi

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

• South Mada Street 'moorthysamy Colony 2nd Street': Rs 4,400 per sq.ft (2024)
• South Mada Street 'moorthysamy Colony 1st Street': Rs 4,400 per sq.ft (2024)
• South Mada Street 'bharathi Nagar': Rs 4,400 per sq.ft (2024)
• South Mada 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 3rd Street'

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, while the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more specific calculations.

Which Sub Registrar Office covers South Mada Street 'moorthysamy Colony 3rd Street'?

The Sub Registrar Office that covers South Mada Street 'moorthysamy Colony 3rd 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 during the registration of property transactions in Padi. It serves as a benchmark for determining the minimum value of a property, ensuring that the transaction is recorded accurately in official documents.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. These fees are essential for the legal transfer of property ownership and are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of South Mada Street 'moorthysamy Colony 3rd Street'?

The current guideline value of South Mada Street 'moorthysamy Colony 3rd 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 changed from Rs 2,680 per sq.ft in 2017 to Rs 4,400 per sq.ft in 2024, with notable revisions in 2023 and 2012 as well.

What is the land classification for this street?

The land classification for South Mada Street 'moorthysamy Colony 3rd Street' is Residential Class III Type - III.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for South Mada Street 'moorthysamy Colony 3rd Street' is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price of the property, whichever is higher. For example, for a property valued at Rs 44,00,000, the total fees would be Rs 3,96,000.