Guideline Value for West Mada Street

West Mada Street guideline value

The current guideline value of West Mada Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Nandhambakkam village under the Alandur SRO, classified as Residential Class I Type - III.

How the guideline value of West Mada Street has changed

In the 2017 revision, the guideline value was Rs 2,680 per sq.ft. This increased to Rs 4,000 per sq.ft in the 2023 revision, marking a significant rise of 49%. The latest revision in 2024 saw another increase to Rs 4,400 per sq.ft, which is a 10% rise from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that the register has no figures for West Mada Street in the years 2002, 2003, 2007, and 2012.

Guideline values in Nandhambakkam

In Nandhambakkam, there are 76 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 8,300 per sq.ft. The median value for these streets is Rs 3,900 per sq.ft, placing West Mada Street's 2024 figure above this median.

• West Kulakkarai Street: Rs 3,900 per sq.ft (2024)
• West Mada Veedhi: Rs 4,400 per sq.ft (2024)
• Wood creek county Main: Rs 6,600 per sq.ft (2024)
• Wood creek county phase 2: Rs 6,600 per sq.ft (2024)
• Vempuliyamman Koil Street: Rs 3,300 per sq.ft (2024)
• Vasanthacolony: Rs 3,900 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 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 be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our 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 Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

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

When buying or selling property, the guideline value serves as a reference point for both buyers and sellers. It is essential to be aware of the current guideline value to ensure compliance with registration requirements and to understand the financial implications of the transaction.

Frequently asked questions

What is the current guideline value of West Mada Street?

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

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 2,680 per sq.ft to Rs 4,400 per sq.ft in 2024, representing an overall increase of 64% over this period.

What is the median guideline value for streets in Nandhambakkam?

The median guideline value for streets in Nandhambakkam is Rs 3,900 per sq.ft, while West Mada Street's current value is above this median.

What are the stamp duty and registration fees for property in West 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 office handles property registrations for West Mada Street?

The Alandur Sub Registrar Office handles property registrations for West Mada Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.