Guideline Value for SOUTH MADA STREET

South Mada Street guideline value

The current guideline value of South Mada Street in Puliyur village, under the Kodambakkam SRO, is Rs 5,300 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - I land classification.

How the guideline value of South Mada Street has changed

The guideline value for South Mada Street has experienced several revisions over the years. In 2002, the value was set at Rs 680 per sq.ft. This increased to Rs 747 per sq.ft in 2003, marking a 10% rise. The following revision in 2007 saw a significant jump to Rs 1,300 per sq.ft, which is an increase of 74%. The value then rose dramatically to Rs 4,900 per sq.ft in 2012, reflecting a 277% increase from the previous revision.

In 2017, the guideline value decreased to Rs 3,283 per sq.ft, indicating a decline of 33%. However, the value rebounded to Rs 4,900 per sq.ft in 2023, a 49% increase from 2017. The most recent revision in 2024 set the guideline value at Rs 5,300 per sq.ft, which is an 8% rise from the previous year. There are no figures available for the revisions in years not listed.

Guideline values in Puliyur

In Puliyur, there are 648 streets under the Kodambakkam SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 14,300 per sq.ft. The median value for these streets is Rs 5,800 per sq.ft, placing South Mada Street's 2024 figure below this median.

• South Gangaiamman Koil 2nd Lane, Choolaimedu: Rs 5,800 per sq.ft (2024)
• South Gangaiamman Koil 1st Street, Choolaimedu: Rs 5,800 per sq.ft (2024)
• South Gangaiamman Koil 1st Lane, Choolaimedu: Rs 5,800 per sq.ft (2024)
• South Gangaiamman Koil 1st Cross Street, Choolaimedu: Rs 5,800 per sq.ft (2024)
• South Sivan Koil Street: Rs 6,300 per sq.ft (2024)
• Sornambigai Street: Rs 3,800 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 5,300 per sq.ft, the total guideline value would be Rs 53,00,000. The stamp duty at 7% would amount to Rs 3,71,000, while the registration fee at 2% would be Rs 1,06,000. Together, the total cost for these fees would be Rs 4,77,000. 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 further calculations.

Which Sub Registrar Office covers South Mada Street?

The Sub Registrar Office that covers South Mada Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Puliyur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented accurately in the records.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for the legal transfer of property ownership. This ensures that both buyers and sellers are aware of the financial implications of the transaction.

Frequently asked questions

What is the current guideline value of South Mada Street?

The current guideline value of South Mada Street is Rs 5,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 680 in 2002 to Rs 5,300 in 2024, representing an overall increase of 679% over the years.

What are the other streets in Puliyur with their guideline values?

Other streets in Puliyur include South Gangaiamman Koil 2nd Lane, Choolaimedu at Rs 5,800 per sq.ft, South Sivan Koil Street at Rs 6,300 per sq.ft, and Sornambigai Street at Rs 3,800 per sq.ft, among others.

Where can I calculate stamp duty and registration fees?

You can calculate the stamp duty and registration fees using the stamp duty and registration fee calculator available online.

Which office handles registrations for South Mada Street?

The Kodambakkam Sub Registrar Office handles registrations for South Mada Street, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.