Guideline Value for South Mada Street

South Mada Street guideline value

The current guideline value of South Mada Street in Madambakkam village is Rs 1,700 per sq.ft, effective from 1 July 2024. This street falls under the Selaiyur SRO 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 revisions over the years. The earliest available revision is from 2012, which set the value at Rs 1,600 per sq.ft. The latest revision in 2024 increased this figure to Rs 1,700 per sq.ft, marking a change of +6% from the previous value.

There are no figures available for the revisions in the years 2002, 2003, 2007, 2017, and 2023 for this street, indicating that the guideline value has remained unchanged during those periods.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft, with a median value of Rs 2,400 per sq.ft. The guideline value for South Mada Street is below this median.

• S.N.K.Nagar: Rs 3,300 per sq.ft (2024)
• S.R. Colony 1st Cross Street: Rs 2,200 per sq.ft (2024)
• S.R. Colony 1st Main Road: Rs 2,200 per sq.ft (2024)
• S.R. Colony 1st Street: Rs 2,200 per sq.ft (2024)
• S.R. Colony 2nd Cross Street: Rs 2,200 per sq.ft (2024)
• S.R. Colony 2nd Main Road: Rs 2,200 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 1,700 per sq.ft, the total guideline value would be Rs 17,00,000. The stamp duty at 7% would amount to Rs 1,19,000, while the registration fee at 2% would be Rs 34,000, bringing the total to Rs 1,53,000. 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 more detailed calculations.

Which Sub Registrar Office covers South Mada Street?

The Sub Registrar Office that covers South Mada Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Madambakkam, as it determines 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 stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of South Mada Street?

The current guideline value of South Mada Street is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 1,600 per sq.ft in 2012 to Rs 1,700 per sq.ft in 2024, reflecting a +6% change. There are no figures available for the years 2002, 2003, 2007, 2017, and 2023.

What is the median guideline value in Madambakkam?

The median guideline value in Madambakkam is Rs 2,400 per sq.ft. South Mada Street's guideline value is below this median.

How is stamp duty calculated for properties on South Mada Street?

Stamp duty for properties on South Mada Street is calculated at 7% of the guideline value or sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 1,700 per sq.ft would incur a stamp duty of Rs 1,19,000.

Where can I find the Sub Registrar Office for South Mada Street?

The Sub Registrar Office covering South Mada Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073. You can find more information through the provided link.