Guideline Value for WEST MADA STREET

West Mada Street guideline value

The current guideline value of West Mada Street in Thiruporur village, under the Thiruporur SRO, is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is classified as Commercial Class I Type - I.

How the guideline value of West Mada Street has changed

The guideline value of West Mada Street has seen several revisions over the years. In 2007, the value was Rs 400 per sq.ft, which increased significantly to Rs 1,000 per sq.ft in 2012. However, it decreased to Rs 670 per sq.ft in 2017. The 2023 revision set the value at Rs 1,000 per sq.ft, and the latest revision in 2024 has increased it to Rs 1,100 per sq.ft, marking a 10% rise from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 175%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Thiruporur

In Thiruporur, there are 31 streets under the Thiruporur SRO with a 2024 guideline value ranging from Rs 495 to Rs 4,500 per sq.ft. The median value is Rs 880 per sq.ft, placing West Mada Street's 2024 figure above this median.

• Vannara @ Vendarasi Amman Koil Street: Rs 880 per sq.ft (2024)
• Vanikar Street: Rs 880 per sq.ft (2024)
• Thiruvanchavadi Street: Rs 880 per sq.ft (2024)
• Sri Subramanya Avenue: Rs 1,100 per sq.ft (2024)
• Sowbaghiya Nagar: Rs 880 per sq.ft (2024)
• South Mada Street: Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in West Mada Street

For a 1,000 sq.ft plot at the current rate of Rs 1,100 per sq.ft, the guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. 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 West Mada Street?

The Sub Registrar Office that covers West Mada Street is the Thiruporur Sub Registrar Office, located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Thiruporur. It determines the minimum value at which a property can be registered and is used to calculate the applicable stamp duty and registration fees.

When a property is sold, the guideline value helps ensure that the transaction is recorded at a fair value, preventing undervaluation. Buyers and sellers need to be aware of the guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of West Mada Street?

The current guideline value of West Mada Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024, representing a total increase of 175% over the years.

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

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

Which Sub Registrar Office covers West Mada Street?

The Thiruporur Sub Registrar Office covers West Mada Street, located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone.

What are the guideline values of other streets in Thiruporur?

Other streets in Thiruporur have varying guideline values, ranging from Rs 495 to Rs 4,500 per sq.ft. For example, Vannara @ Vendarasi Amman Koil Street and Vanikar Street both have a guideline value of Rs 880 per sq.ft in 2024.