Guideline Value for South Mada Church Street

South Mada Church Street guideline value

The current guideline value of South Mada Church Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village, under the Royapuram SRO, and is classified as Residential Class I Type - I.

How the guideline value of South Mada Church Street has changed

Over the years, the guideline value of South Mada Church Street has seen several revisions. The 2007 revision set the value at Rs 900 per sq.ft, which increased to Rs 2,000 per sq.ft in 2012. However, it decreased to Rs 1,340 per sq.ft in 2017. The next revision in 2023 raised it to Rs 2,000 per sq.ft, and the current revision in 2024 has further increased it to Rs 2,200 per sq.ft. The register has no figure for the years 2002 and 2003.

In terms of percentage changes, from 2007 to 2012, there was a significant increase of 122%. However, from 2012 to 2017, the value decreased by 33%. The value then saw a substantial increase of 49% from 2017 to 2023, followed by a 10% increase from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 144%.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median guideline value is Rs 1,600 per sq.ft, making South Mada Church Street's 2024 figure of Rs 2,200 per sq.ft above this median.

• South Railway Lane: Rs 1,300 per sq.ft (2024)
• Solaiappan Street: Rs 2,200 per sq.ft (2024)
• Solaiappan 3rd lane: Rs 2,200 per sq.ft (2024)
• Solaiappan 2nd lane: Rs 2,200 per sq.ft (2024)
• Solaiappan 1st lane: Rs 2,200 per sq.ft (2024)
• S.no 2996/1 to 10: Rs 10,100 per sq.ft (2024)

Stamp duty and registration fee for property in South Mada Church Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees together to Rs 1,98,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers South Mada Church Street?

The South Mada Church Street falls under the jurisdiction of the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Tondaiarpet. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives appropriate revenue from property transactions.

When a buyer or seller engages in a property transaction, the guideline value helps determine the minimum value at which the property can be registered. This ensures transparency and fairness in property dealings, as it reflects the official valuation of the property based on its location and other factors.

Frequently asked questions

What is the current guideline value of South Mada Church Street?

The current guideline value of South Mada Church Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 900 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 144% over the years.

What is the registration office for South Mada Church Street?

The registration office for South Mada Church Street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Where can I find more information about the guideline values?

More information about guideline values can be found in the Registration Department's guideline value register (TNReginet) or by visiting the relevant Sub Registrar Office.