Guideline Value for CAR STEET

Car Steet guideline value

The current guideline value of Car Steet in Mathuranthagam village is Rs 1,110 per sq.ft, as per the 2024 revision effective from 1 July 2024. This street falls under the Madurandakam SRO and is classified as Residential Special Type - I.

How the guideline value of Car Steet has changed

The guideline value for Car Steet has undergone several revisions over the years. In 2007, the value was Rs 500 per sq.ft, which increased to Rs 1,000 per sq.ft in 2012. However, this figure saw a decrease to Rs 670 per sq.ft in 2017. The subsequent revision in 2023 raised the value to Rs 1,000 per sq.ft, and the most recent revision in 2024 set it at Rs 1,110 per sq.ft. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

From 2017 to 2023, the guideline value increased by 49%, and from 2023 to 2024, it rose by 11%. The overall change from 2007 to 2024 reflects an increase of 122%. This indicates a significant upward trend in the guideline value over the years.

Guideline values in Mathuranthagam

In Mathuranthagam, there are 109 streets under the Madurandakam SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 1,480 per sq.ft. The median guideline value for these streets is Rs 1,100 per sq.ft, placing Car Steet's 2024 figure at the median level.

• Chelliamman Nagar: Rs 715 per sq.ft (2024)
• Chinna Colony Sengunthar Pettai: Rs 660 per sq.ft (2024)
• Barani Nagar: Rs 1,110 per sq.ft (2024)
• Dhanalakshmi Nagar: Rs 660 per sq.ft (2024)
• Dharamaraja Koil Street: Rs 1,110 per sq.ft (2024)
• Bakkiyalakshmi Nagar: Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Car Steet

For a 1,000 sq.ft plot at the current guideline value of Rs 1,110 per sq.ft, the total guideline value amounts to Rs 11,10,000. The stamp duty at 7% would be Rs 77,700, while the registration fee at 2% would be Rs 22,200, bringing the total fees to Rs 99,900. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Car Steet?

The Sub Registrar Office that covers Car Steet is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration of property transactions in Mathuranthagam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling a property.

When a property is registered, the guideline value is considered to ensure that the appropriate fees are collected based on the value of the property being transferred. This helps maintain transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Car Steet?

The current guideline value of Car Steet is Rs 1,110 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value of Car Steet has seen significant changes, increasing from Rs 500 per sq.ft in 2007 to Rs 1,110 per sq.ft in 2024, reflecting an overall increase of 122%.

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

Other streets in Mathuranthagam include Chelliamman Nagar at Rs 715 per sq.ft, Chinna Colony Sengunthar Pettai at Rs 660 per sq.ft, Barani Nagar at Rs 1,110 per sq.ft, Dhanalakshmi Nagar at Rs 660 per sq.ft, Dharamaraja Koil Street at Rs 1,110 per sq.ft, and Bakkiyalakshmi Nagar at Rs 660 per sq.ft.

What is the stamp duty rate for properties in Car Steet?

The stamp duty rate for properties in Car Steet is 7% of the guideline value or the sale price, whichever is higher. This is part of the fees payable during the registration process.

Where can I find the Sub Registrar Office for Car Steet?

The Sub Registrar Office for Car Steet is located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find more information about it online.