Guideline Value for West Mada Street

West Mada Street guideline value

The current guideline value of West Mada Street in Thirumullaivoyal village is Rs 2,400 per sq.ft, effective from 1 July 2024. This street falls under the Ambattur SRO and is classified as Residential Class I Type - I.

How the guideline value of West Mada Street has changed

The guideline value for West Mada Street has undergone several revisions since 2002. The earliest recorded value in 2002 was Rs 139 per sq.ft, which increased to Rs 160 per sq.ft in 2003, marking a change of +15%. By 2007, the value surged to Rs 200 per sq.ft, reflecting an increase of +25%. The most significant jump occurred in 2012, when the value reached Rs 2,200 per sq.ft, an impressive rise of +1,000% from the previous revision. However, in 2017, the value dropped to Rs 1,474 per sq.ft, showing a decrease of -33%.

As of the 2024 revision, the guideline value stands at Rs 2,400 per sq.ft, which is an increase of +63% from the 2017 figure. Overall, from 2002 to 2024, the guideline value has increased by +1,627%.

Guideline values in Thirumullaivoyal

In Thirumullaivoyal, there are 975 streets under the Ambattur SRO, with guideline values ranging from Rs 880 to Rs 5,500 per sq.ft. The median value is Rs 2,400 per sq.ft, which is equal to the guideline value of West Mada Street for 2024.

• Yamuna Nagar: Rs 1,600 per sq.ft (2024)
• Yamuna Street (Devi Nagar): Rs 2,400 per sq.ft (2024)
• V.V. Giri Street: Rs 2,400 per sq.ft (2024)
• V.P. Nagar: Rs 990 per sq.ft (2024)
• V.O.C. Nagar: Rs 2,700 per sq.ft (2024)
• V.O.Chithambaram Street (Senthil Nagar): Rs 2,700 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 2,400 per sq.ft, the total guideline value would be Rs 24,00,000. The stamp duty at 7% would amount to Rs 1,68,000, while the registration fee at 2% would be Rs 48,000. Therefore, the total charges would be Rs 2,16,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

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 details.

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

The guideline value is a crucial factor during property registration in Thirumullaivoyal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair price.

When buying or selling property, the guideline value is used to calculate stamp duty and registration fees. This ensures that both buyers and sellers are aware of the financial obligations involved in 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 2,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 139 per sq.ft in 2002 to Rs 2,400 per sq.ft in 2024, reflecting an overall increase of +1,627%.

What is the land classification for West Mada Street?

West Mada Street is classified as Residential Class I Type - I.

What are the other streets in Thirumullaivoyal with their guideline values?

Other streets in Thirumullaivoyal include Yamuna Nagar at Rs 1,600 per sq.ft, Yamuna Street (Devi Nagar) at Rs 2,400 per sq.ft, and V.O.C. Nagar at Rs 2,700 per sq.ft, among others.

Where is the Ambattur Sub Registrar Office located?

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