Guideline Value for CHENNAI - THIRUVALLUR HIGH ROAD (M.T.H ROAD)

Chennai - Thiruvallur High Road (M.T.H Road) guideline value

The current guideline value for Chennai - Thiruvallur High Road (M.T.H Road) is Rs 8,200 per sq.ft, effective from 1 July 2024. This street is located in Korattur village and falls under the Villivakkam SRO, classified as Residential Special Type - I.

How the guideline value of Chennai - Thiruvallur High Road (M.T.H Road) has changed

Over the years, the guideline value for Chennai - Thiruvallur High Road (M.T.H Road) has seen significant changes. The 2007 revision recorded a guideline value of Rs 3,050 per sq.ft, which increased to Rs 7,500 per sq.ft in 2012, marking a rise of 146%. However, in 2017, the value decreased to Rs 5,025 per sq.ft, a decline of 33%. The value then rose sharply to Rs 7,500 per sq.ft in 2023, and as of the 2024 revision, it stands at Rs 8,200 per sq.ft, reflecting a 9% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 169%. The revisions for the years 2002 and 2003 do not have figures available for this street.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO, with guideline values ranging from Rs 1,100 to Rs 8,200 per sq.ft. The median guideline value in this area is Rs 2,500 per sq.ft, placing the Chennai - Thiruvallur High Road (M.T.H Road) above this median.

• Chennai -Thiruvallur High Road (M.T.H Road) (T.V.S. Group Of Companies): Rs 8,200 per sq.ft (2024)
• Chetty Street: Rs 2,700 per sq.ft (2024)
• Chavadi Street: Rs 3,300 per sq.ft (2024)
• Chockalingam Street: Rs 1,600 per sq.ft (2024)
• Collector Nagar/Streets (Madhanakuppam): Rs 1,300 per sq.ft (2024)
• Brindavan Nagar: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Chennai - Thiruvallur High Road (M.T.H Road)

For a 1,000 sq.ft plot at the current guideline value of Rs 8,200 per sq.ft, the total guideline value amounts to Rs 82,00,000. The stamp duty at 7% would be Rs 5,74,000, and the registration fee at 2% would be Rs 1,64,000, bringing the total to Rs 7,38,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Chennai - Thiruvallur High Road (M.T.H Road)?

The Chennai - Thiruvallur High Road (M.T.H Road) is covered by the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration of property transactions in Korattur. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that need to be paid at the time of registration.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the overall cost of the transaction. Ensuring that the correct guideline value is applied helps in avoiding any legal complications during the property registration process.

Frequently asked questions

What is the current guideline value for Chennai - Thiruvallur High Road (M.T.H Road)?

The current guideline value for Chennai - Thiruvallur High Road (M.T.H Road) is Rs 8,200 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 3,050 per sq.ft in 2007 to Rs 8,200 per sq.ft in 2024, marking an overall increase of 169% over this period.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 82,00,000, the stamp duty would be Rs 5,74,000 and the registration fee would be Rs 1,64,000, totaling Rs 7,38,000.

Which office handles registrations for properties on M.T.H Road?

The Villivakkam Sub Registrar Office handles registrations for properties on Chennai - Thiruvallur High Road (M.T.H Road).

What is the land classification for Chennai - Thiruvallur High Road (M.T.H Road)?

The land classification for Chennai - Thiruvallur High Road (M.T.H Road) is Residential Special Type - I.