Guideline Value for South Mada Street

South Mada Street guideline value

The current guideline value of South Mada Street in Thiruneermalai village is Rs 2,200 per sq.ft, effective from 1 July 2024. This street falls under the Pammal Sub Registrar Office and is classified as Residential Class I Type - II.

How the guideline value of South Mada Street has changed

The guideline value for South Mada Street has seen significant revisions over the years. In 2003, the value was Rs 312 per sq.ft, which increased to Rs 350 per sq.ft in 2007. The 2017 revision marked a substantial rise to Rs 1,340 per sq.ft, followed by an increase to Rs 2,000 per sq.ft in 2023. The latest revision in 2024 raised the value to Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

Notably, there are no figures available for the years 2002 and 2012 for South Mada Street. The guideline value has increased overall by 605% from 2003 to 2024, highlighting the significant changes in property valuation over the years.

Guideline values in Thiruneermalai

Thiruneermalai has a total of 316 streets under the Pammal SRO, with guideline values ranging from Rs 1,320 to Rs 6,240 per sq.ft as per the 2024 revision. The median value for these streets is Rs 2,420 per sq.ft, positioning South Mada Street's 2024 value below this median.

• South Kulakarai Street: Rs 2,200 per sq.ft (2024)
• SreeKrishna 1st Street: Rs 1,320 per sq.ft (2024)
• SreeKrishna 2st Street: Rs 1,320 per sq.ft (2024)
• Sreepuram 3rd Cross Street: Rs 3,080 per sq.ft (2024)
• Sivaraj Street Extn 3rd Street: Rs 2,420 per sq.ft (2024)
• Sivaraj Street Extn 2nd Street: Rs 2,420 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 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to 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 the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers South Mada Street?

The Pammal Sub Registrar Office covers South Mada Street, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor in the registration process when buying or selling property. It determines the minimum value for stamp duty and registration fees, ensuring that the transaction is recorded accurately and legally.

Frequently asked questions

What is the current guideline value of South Mada Street?

The current guideline value of South Mada 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 increased from Rs 312 per sq.ft in 2003 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 605% over this period.

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

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.

Which office handles registrations for South Mada Street?

The Pammal Sub Registrar Office is responsible for handling registrations for South Mada Street, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the significance of the guideline value in property transactions?

The guideline value is crucial in determining the minimum value for stamp duty and registration fees during property transactions. It helps ensure that the property is valued accurately for legal purposes.