Guideline Value for SOUTH MADA VEEDHI

South Mada Veedhi guideline value

The current guideline value of South Mada Veedhi is Rs 550 per sq.ft, effective from 1 July 2024. This street is located in Thirukkachur - 1 village, under the Chengleput Joint II SRO, and is classified as Residential Class I Type - II.

How the guideline value of South Mada Veedhi has changed

The guideline value for South Mada Veedhi has undergone several revisions over the years. The 2012 revision set the value at Rs 500 per sq.ft, which was then reduced to Rs 335 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 500 per sq.ft, and the most recent 2024 revision has set it at Rs 550 per sq.ft. There are no figures available for the years 2002, 2003, and 2007 in the register for this street.

In terms of percentage changes, the guideline value increased by 10% from 2023 to 2024. From 2017 to 2023, there was a significant increase of 49%. However, the value decreased by 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Thirukkachur - 1

In Thirukkachur - 1, there are 86 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 385 to Rs 3,300 per sq.ft, with a median value of Rs 660 per sq.ft. The guideline value for South Mada Veedhi is below this median.

• Sri Iyyappa Nagar: Rs 550 per sq.ft (2024)
• Srinivasa Nagar Part-1: Rs 660 per sq.ft (2024)
• Srinivasa Nagar Part-3: Rs 660 per sq.ft (2024)
• Srinivasa Nagar Part - IV: Rs 660 per sq.ft (2024)
• Sasthri Street: Rs 550 per sq.ft (2024)
• Sardhar Petel Nagar: Rs 1,645 per sq.ft (2024)

Stamp duty and registration fee for property in South Mada Veedhi

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, resulting in a total cost of Rs 49,500. 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 detailed calculations.

Which Sub Registrar Office covers South Mada Veedhi?

The Sub Registrar Office that covers South Mada Veedhi is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. To find your specific SRO, you can visit find your SRO.

How the guideline value is used when you buy or sell in Thirukkachur - 1

The guideline value plays a crucial role when buying or selling property in Thirukkachur - 1. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the transaction is recorded accurately and that the appropriate taxes are paid to the government.

Frequently asked questions

What is the current guideline value of South Mada Veedhi?

The current guideline value of South Mada Veedhi is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2012 to Rs 335 per sq.ft in 2017, then increased to Rs 500 per sq.ft in 2023, and finally to Rs 550 per sq.ft in 2024.

What is the land classification for South Mada Veedhi?

South Mada Veedhi is classified as Residential Class I Type - II, which indicates its suitability for residential development.

Where can I find the Chengleput Joint II Sub Registrar Office?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone.

How is the stamp duty calculated for properties in South Mada Veedhi?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the stamp duty would be Rs 38,500.