Guideline Value for South Mada Street

South Mada Street guideline value

The current guideline value of South Mada Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Koyakbedu village and falls under the AnnaNagar SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of South Mada Street has changed

Over the years, the guideline value for South Mada Street has seen significant changes. The 2007 revision set the value at Rs 1,200 per sq.ft, which increased to Rs 4,000 per sq.ft in the 2012 revision, marking a substantial rise of 233%. However, in 2017, the value dropped to Rs 2,680 per sq.ft, a decrease of 33%. The value rose again to Rs 4,000 per sq.ft in 2023, and the latest revision in 2024 has set the value at Rs 4,400 per sq.ft, reflecting a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2007 revision to the 2024 revision, there has been a remarkable increase of 267% in the guideline value for South Mada Street. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Koyakbedu

Koyakbedu village has a total of 270 streets under the AnnaNagar SRO, with guideline values for 2024 ranging from Rs 2,200 to Rs 16,500 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, which is the same as the current value for South Mada Street.

• Sri Ayyappa Nagar: Rs 4,400 per sq.ft (2024)
• Sri Ayyappa Nagar 1st Main Road: Rs 4,400 per sq.ft (2024)
• Sri Ayyappa Nagar 2nd Cross Street: Rs 4,900 per sq.ft (2024)
• Sri Ayyappa Nagar 2nd Main Road: Rs 4,400 per sq.ft (2024)
• Sri Ayyappa Nagar 2nd Street: Rs 4,900 per sq.ft (2024)
• Sri Ayyappa Nagar 3rd Cross Street: Rs 4,400 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 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, making the total cost for these fees Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, 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 AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more details.

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

The guideline value plays a crucial role in property transactions in Koyakbedu. It is used to determine the stamp duty and registration fees when a property is bought or sold. Buyers and sellers must be aware of the guideline value to accurately assess the costs involved in the transaction.

During the registration process, the guideline value is considered alongside the sale price. The higher of the two figures is used to calculate the applicable duties and fees, ensuring that all parties are aware of their financial obligations when transferring property ownership.

Frequently asked questions

What is the current guideline value of South Mada Street?

The current guideline value of South Mada Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,200 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 267% over the years.

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

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Which Sub Registrar Office handles transactions for South Mada Street?

The AnnaNagar Sub Registrar Office handles transactions for South Mada Street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the land classification for South Mada Street?

South Mada Street is classified as Residential Class I Type - II, indicating its suitability for residential purposes.