Guideline Value for SOUTH MADA STREET

South Mada Street guideline value

The current guideline value of South Mada Street in Thiruporur village, under the Thiruporur SRO, is Rs 880 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 South Mada Street has changed

The guideline value for South Mada Street has seen several revisions over the years. In 2007, the value was set at Rs 300 per sq.ft, which increased significantly to Rs 800 per sq.ft in 2012, marking a 167% rise. However, the value dropped to Rs 536 per sq.ft in 2017, a decrease of 33%. The next revision in 2023 saw the value rise to Rs 800 per sq.ft, followed by a further increase to Rs 880 per sq.ft in 2024, which is a 10% increase from the previous year.

Notably, there are no figures available for South Mada Street in the revisions of 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 193%.

Guideline values in Thiruporur

In Thiruporur, there are 31 streets under the Thiruporur SRO that carry a 2024 guideline value ranging from Rs 495 to Rs 4,500 per sq.ft, with the median value being Rs 880 per sq.ft. South Mada Street's 2024 guideline value matches this median.

• Sowbaghiya Nagar: Rs 880 per sq.ft (2024)
• Santror Street: Rs 770 per sq.ft (2024)
• Sannathi Street: Rs 880 per sq.ft (2024)
• Sannathi Santhu Street: Rs 770 per sq.ft (2024)
• Sri Subramanya Avenue: Rs 1,100 per sq.ft (2024)
• Sabapathy Pathar Street: Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in South Mada Street

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value would be Rs 8,80,000. The stamp duty at 7% would amount to Rs 61,600, while the registration fee at 2% would be Rs 17,600, bringing the total fees to Rs 79,200. Please 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 details.

Which Sub Registrar Office covers South Mada Street?

The Sub Registrar Office that covers South Mada Street is the Thiruporur Sub Registrar Office, located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Thiruporur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives due revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. It is important to note that the actual sale price cannot be lower than the guideline value during registration.

Frequently asked questions

What is the current guideline value of South Mada Street?

The current guideline value of South Mada Street is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 880 per sq.ft in 2024, reflecting an overall increase of 193% over the years.

What are the stamp duty and registration fees for property in South Mada Street?

For a property valued at Rs 8,80,000, the stamp duty would be Rs 61,600 and the registration fee would be Rs 17,600, totaling Rs 79,200.

Which office handles registrations for South Mada Street?

The Thiruporur Sub Registrar Office handles registrations for South Mada Street, located at No.29, South Mada Street, Thiruporur-603110.

What is the land classification for South Mada Street?

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