Guideline Value for South Mada Street

South Mada Street guideline value

The current guideline value of South Mada Street in Thirumullaivoyal village is Rs 2,400 per sq.ft, effective from 1 July 2024. This street falls under the Ambattur SRO and is classified as Residential Class I Type - I.

How the guideline value of South Mada Street has changed

The guideline value for South Mada Street has seen several revisions over the years. In 2002, the value was Rs 139 per sq.ft. This increased to Rs 160 per sq.ft in 2003, marking a 15% rise. The value then rose to Rs 200 per sq.ft in 2007, a significant increase of 25%. Following this, the value surged dramatically to Rs 2,200 per sq.ft in 2012, representing a 1,000% increase. However, it decreased to Rs 1,474 per sq.ft in 2017, showing a decline of 33%. The value then increased to Rs 2,200 per sq.ft in 2023, a 49% rise, before reaching the current value of Rs 2,400 per sq.ft in 2024, which is a 9% increase.

The register has no figure for this street for the years not mentioned above. Overall, from 2002 to 2024, the guideline value has increased by 1,627%.

Guideline values in Thirumullaivoyal

In Thirumullaivoyal, there are 975 streets under the Ambattur SRO, with guideline values for 2024 ranging from Rs 880 to Rs 5,500 per sq.ft. The median guideline value is Rs 2,400 per sq.ft, which is equal to the current value of South Mada Street.

• Somasundharam Avenue: Rs 2,400 per sq.ft (2024)
• Solapuram Road: Rs 2,700 per sq.ft (2024)
• S.No.296/3 and 303: Rs 2,400 per sq.ft (2024)
• S.No.209/2 & 883: Rs 2,700 per sq.ft (2024)
• S.No.173/1, 173/2: Rs 1,100 per sq.ft (2024)
• Siva Sankara Puram 2nd Street: Rs 2,400 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 2,400 per sq.ft, the total guideline value is Rs 24,00,000. The stamp duty at 7% amounts to Rs 1,68,000, and the registration fee at 2% amounts to Rs 48,000. Together, these fees total Rs 2,16,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers South Mada Street?

The Sub Registrar Office that covers South Mada Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Thirumullaivoyal. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees payable at the time of registration. It ensures that the government receives the appropriate revenue based on the property's assessed value.

Additionally, the guideline value helps in establishing a fair price for property transactions, providing a reference point for buyers and sellers. It is essential to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of South Mada Street?

The current guideline value of South Mada Street is Rs 2,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 139 per sq.ft in 2002 to Rs 2,400 per sq.ft in 2024, representing an overall increase of 1,627% over the years.

What is the land classification for South Mada Street?

South Mada Street is classified as Residential Class I Type - I under the Ambattur SRO.

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

The Sub Registrar Office for South Mada Street is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at a guideline value of Rs 2,400 per sq.ft, the total guideline value is Rs 24,00,000, with corresponding fees calculated accordingly.