Guideline Value for West Mada Street Ward 13

West Mada Street Ward 13 guideline value

The current guideline value of West Mada Street Ward 13 is Rs 400 per sq.ft, effective from 1 July 2024. This street is located in Acharapakkam village and falls under the Acchirapakkam SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of West Mada Street Ward 13 has changed

Over the years, the guideline value for West Mada Street Ward 13 has seen several revisions. The earliest recorded figure is from 2007, where the value was Rs 200 per sq.ft. This increased to Rs 300 per sq.ft in 2012, marking a 50% rise. However, between 2012 and 2017, the value decreased to Rs 201 per sq.ft, reflecting a decline of 33%. The next revision in 2023 maintained the value at Rs 400 per sq.ft, which remained unchanged in the 2024 revision.

From 2017 to 2023, there was a significant increase of 99%, bringing the value back to Rs 400 per sq.ft. Overall, from 2007 to 2024, the guideline value has increased by 100%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Acharapakkam

Acharapakkam village has a total of 61 streets under the Acchirapakkam SRO that carry a 2024 guideline value ranging from Rs 250 to Rs 600 per sq.ft. The median guideline value for these streets is Rs 400 per sq.ft, which is the same as the current value for West Mada Street Ward 13.

• Yadavar Street Ward 11: Rs 400 per sq.ft (2024)
• V.M. Street Ward 13: Rs 300 per sq.ft (2024)
• Venkatesapuram 5th Street Ward 1: Rs 300 per sq.ft (2024)
• Venkatesapuram 4th Street Ward 15: Rs 300 per sq.ft (2024)
• Venkatesapuram 3rd Street Ward 15: Rs 300 per sq.ft (2024)
• Venkatesapuram 2rd Street Ward 15: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in West Mada Street Ward 13

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value would be Rs 4,00,000. The stamp duty at 7% would amount to Rs 28,000, while the registration fee at 2% would be Rs 8,000. Together, the total cost for stamp duty and registration would be Rs 36,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers West Mada Street Ward 13?

The Sub Registrar Office that covers West Mada Street Ward 13 is the Acchirapakkam Sub Registrar Office, located at No.70, Bazzar Street, Acchirapakkam-603301, Chengalpattu registration zone. You can find your SRO for more information.

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

When buying or selling property in Acharapakkam, the guideline value plays a crucial role in determining the stamp duty and registration fees. The guideline value is set by the government and is used as a reference for the minimum value at which properties can be registered. Buyers should be aware that the registration process will consider the higher of the guideline value or the actual sale price.

Understanding the guideline value is essential for both buyers and sellers, as it affects the overall transaction costs. It is advisable to consult the latest guideline value before proceeding with any property transaction to ensure compliance with the registration requirements.

Frequently asked questions

What is the current guideline value of West Mada Street Ward 13?

The current guideline value of West Mada Street Ward 13 is Rs 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 200 per sq.ft in 2007 to Rs 400 per sq.ft in 2024, reflecting a 100% increase overall. The value remained unchanged from 2023 to 2024, and there was a significant increase of 99% from 2017 to 2023.

Where can I find the Sub Registrar Office for West Mada Street Ward 13?

The Sub Registrar Office for West Mada Street Ward 13 is located at No.70, Bazzar Street, Acchirapakkam-603301, Chengalpattu registration zone.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2%. For example, for a property valued at Rs 4,00,000, the total stamp duty and registration fees would amount to Rs 36,000.

What other streets in Acharapakkam have similar guideline values?

Other streets in Acharapakkam with similar guideline values include Yadavar Street Ward 11 at Rs 400 per sq.ft and several streets at Rs 300 per sq.ft, such as V.M. Street Ward 13, Venkatesapuram 5th Street Ward 1, and others.