Guideline Value for South Mada Street

South Mada Street guideline value

The current guideline value of South Mada Street is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Triplicane village, under the Triplicane SRO, and is classified as Residential Class I Type - I.

How the guideline value of South Mada Street has changed

In the 2012 revision, the guideline value was Rs 6,000 per sq.ft. This figure decreased to Rs 4,020 per sq.ft in the 2017 revision, marking a decline of 33%. Following this, the value significantly increased to Rs 6,000 per sq.ft in 2023, and then rose to Rs 6,600 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year. The register has no figures for the years 2002, 2003, and 2007.

From 2017 to 2023, the guideline value saw a substantial increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Triplicane

In Triplicane, there are 415 streets under the Triplicane SRO that carry a 2024 guideline value ranging from Rs 2,700 to Rs 20,900 per sq.ft. The median guideline value is Rs 6,600 per sq.ft, which is equal to the 2024 figure for South Mada Street.

• South Kulakkarai Street: Rs 6,600 per sq.ft (2024)
• Somu Street: Rs 7,700 per sq.ft (2024)
• Smith Street: Rs 13,200 per sq.ft (2024)
• Siyali Koil Street: Rs 6,600 per sq.ft (2024)
• Siyali Koil Lane: Rs 6,600 per sq.ft (2024)
• Sivaraman Street: Rs 6,600 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 6,600 per sq.ft, the total guideline value would be Rs 66,00,000. The stamp duty at 7% would be Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, totaling Rs 5,94,000. 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 Street?

The Sub Registrar Office that covers South Mada Street is the Triplicane Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process of property transactions in Triplicane. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps establish a baseline for negotiations. Buyers and sellers use this value to assess fair pricing for transactions, ensuring compliance with legal requirements 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 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 6,000 per sq.ft in 2012 to Rs 4,020 per sq.ft in 2017, then back to Rs 6,000 per sq.ft in 2023, and finally to Rs 6,600 per sq.ft in 2024.

What is the land classification for South Mada Street?

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

What is the stamp duty for property in South Mada Street?

The stamp duty for property in South Mada Street is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for South Mada Street located?

The Sub Registrar Office for South Mada Street is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.