Guideline Value for West Mada Church Street

West Mada Church Street guideline value

The current guideline value of West Mada Church Street is Rs 3,800 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village and falls under the Royapuram SRO. The land classification for this street is Commercial Class I Type - I.

How the guideline value of West Mada Church Street has changed

Over the years, the guideline value of West Mada Church Street has seen significant changes. In the 2007 revision, the value was Rs 1,200 per sq.ft, which increased to Rs 3,500 per sq.ft in 2012. However, it dropped to Rs 2,345 per sq.ft in the 2017 revision. The guideline value then rose to Rs 3,500 per sq.ft in 2023 and further increased to the current value of Rs 3,800 per sq.ft in 2024. The register has no figure for this street in 2002 and 2003.

From 2007 to 2012, there was a significant increase of 192%. However, the value decreased by 33% from 2012 to 2017. The value then surged by 49% from 2017 to 2023, and the most recent revision shows a 9% increase from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 217%.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 10,100 per sq.ft, with a median value of Rs 1,600 per sq.ft. The guideline value of West Mada Church Street is above this median.

• West Kalmandapam Road: Rs 4,900 per sq.ft (2024)
• West Veerakutty Street: Rs 1,300 per sq.ft (2024)
• Washer Varadappa (M) Street: Rs 2,200 per sq.ft (2024)
• V.P.Koil Street: Rs 2,200 per sq.ft (2024)
• V.P.Koil Lane: Rs 2,200 per sq.ft (2024)
• Venkatesa(N) 5th Lane: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in West Mada Church Street

For a 1,000 sq.ft plot at the current rate of Rs 3,800 per sq.ft, the guideline value amounts to Rs 38,00,000. The stamp duty at 7% would be Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, making the total Rs 3,42,000. 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 details.

Which Sub Registrar Office covers West Mada Church Street?

The Sub Registrar Office that covers West Mada Church Street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more information.

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

The guideline value is an important figure used during property registration in Tondaiarpet. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value can influence the sale price. Buyers and sellers should be aware of this value, as it will impact the overall costs associated with the transaction, including the stamp duty and registration fees that are calculated based on this value.

Frequently asked questions

What is the current guideline value of West Mada Church Street?

The current guideline value of West Mada Church Street is Rs 3,800 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 1,200 per sq.ft to the current Rs 3,800 per sq.ft in 2024, reflecting an overall increase of 217%.

What is the land classification for West Mada Church Street?

West Mada Church Street is classified as Commercial Class I Type - I, indicating its suitability for commercial activities.

Where can I find the Royapuram Sub Registrar Office?

The Royapuram Sub Registrar Office is located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

How are stamp duty and registration fees calculated?

Stamp duty is charged at 7% and the registration fee at 2% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 38,00,000, the total fees would amount to Rs 3,42,000.