Guideline Value for West Mada Street

West Mada Street guideline value

The current guideline value of West Mada Street in Kovilpathagai village is Rs 880 per sq.ft, effective from the 2024 revision. This street falls under the Ambattur SRO and is classified as Residential Class II Type - I.

How the guideline value of West Mada Street has changed

The guideline value for West Mada Street has undergone several revisions over the years. The earliest recorded figure is from 2012, which was Rs 800 per sq.ft. This was followed by a decrease to Rs 536 per sq.ft in 2017. The value then increased significantly to Rs 800 per sq.ft in 2023, before rising again to Rs 880 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, the guideline value has seen a net increase of 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Kovilpathagai

In Kovilpathagai, there are 278 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 803 to Rs 2,900 per sq.ft. The median value for these streets is Rs 870 per sq.ft, placing West Mada Street's 2024 figure above that median.

• Yadavaar Street: Rs 880 per sq.ft (2024)
• Yogalakshmi Nagar: Rs 807 per sq.ft (2024)
• Yogam Avenue: Rs 807 per sq.ft (2024)
• V.O.C. Lakshmi Street: Rs 880 per sq.ft (2024)
• Veppangulam Street: Rs 880 per sq.ft (2024)
• Venkatraman 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 guideline value of Rs 880 per sq.ft, the total guideline value amounts to Rs 8,80,000. The stamp duty at 7% would be Rs 61,600, and the registration fee at 2% would be Rs 17,600, bringing the total fees together to Rs 79,200. It is important to note that 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 detailed calculations.

Which Sub Registrar Office covers West Mada Street?

The Sub Registrar Office that covers West Mada Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor when buying or selling property in Kovilpathagai. It serves as a benchmark for determining the minimum value of a property, which is essential for registration purposes.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, ensuring that the transaction is recorded accurately. Buyers and sellers must be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of West Mada Street?

The current guideline value of West Mada Street is Rs 880 per sq.ft, effective from the 2024 revision.

How often does the guideline value change?

The guideline value is revised periodically, with the most recent revision taking place in 2024. Previous revisions occurred in 2023, 2017, and 2012.

What is the land classification of West Mada Street?

West Mada Street is classified as Residential Class II Type - I under the land classification system.

What are the stamp duty rates for properties in Kovilpathagai?

The stamp duty for properties in Kovilpathagai is typically charged at 7% of the guideline value or the sale price, whichever is higher.

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

The Sub Registrar Office for West Mada Street is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.