Guideline Value for ChengelPattu-Thiruvallur Main Road

ChengelPattu-Thiruvallur Main Road guideline value

The current guideline value for ChengelPattu-Thiruvallur Main Road is Rs 1,000 per sq.ft, effective from 1 July 2024. This road is located in Maathoor village and falls under the Sunguvarchattram SRO, classified as Residential Special Type - I.

How the guideline value of ChengelPattu-Thiruvallur Main Road has changed

Over the years, the guideline value for ChengelPattu-Thiruvallur Main Road has seen several revisions. The earliest recorded revision was in 2012, setting the value at Rs 1,000 per sq.ft. This was followed by a decrease to Rs 670 per sq.ft in 2017, which marked a -33% change. However, the value increased back to Rs 1,000 per sq.ft in the 2023 revision, maintaining that rate into the 2024 revision, which also stands at Rs 1,000 per sq.ft, reflecting a 0% change between these two years.

It is important to note that there are no recorded figures for this street in the revisions of 2002, 2003, and 2007. From 2017 to 2023, there was a significant increase of 49% in the guideline value.

Guideline values in Maathoor

In Maathoor, there are 47 streets under the Sunguvarchattram SRO that carry a 2024 guideline value, ranging from Rs 250 to Rs 2,687 per sq.ft. The median value for these streets is Rs 500 per sq.ft, placing the ChengelPattu-Thiruvallur Main Road's 2024 figure above that median.

• Chengalpet Road: Rs 1,000 per sq.ft (2024)
• Compact Homes Jalmika: Rs 2,687 per sq.ft (2024)
• Bharathi Street: Rs 500 per sq.ft (2024)
• Bajani Kovil Street: Rs 500 per sq.ft (2024)
• Ezhil Nagar: Rs 300 per sq.ft (2024)
• Four Greens: Rs 1,000 per sq.ft (2024)

Stamp duty and registration fee for property in ChengelPattu-Thiruvallur Main Road

For a 1,000 sq.ft plot at the current rate of Rs 1,000 per sq.ft, the guideline value amounts to Rs 10,00,000. The stamp duty at 7% would be Rs 70,000, and the registration fee at 2% would be Rs 20,000, totaling Rs 90,000. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for precise calculations based on your property details.

Which Sub Registrar Office covers ChengelPattu-Thiruvallur Main Road?

The ChengelPattu-Thiruvallur Main Road falls under the jurisdiction of the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in property transactions in Maathoor. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property sales.

When buying or selling property, the guideline value is used to calculate stamp duty and registration fees, which are mandatory costs associated with the transaction. This ensures transparency and fairness in property dealings.

Frequently asked questions

What is the current guideline value for ChengelPattu-Thiruvallur Main Road?

The current guideline value for ChengelPattu-Thiruvallur Main Road is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen changes from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, and then back to Rs 1,000 per sq.ft in 2023 and 2024, with a significant increase of 49% from 2017 to 2023.

What is the median guideline value in Maathoor?

The median guideline value for the 47 streets in Maathoor is Rs 500 per sq.ft, with ChengelPattu-Thiruvallur Main Road's value being above this median.

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

Stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 1,000 per sq.ft incurs a total of Rs 90,000 in fees.

Which office handles property registrations for ChengelPattu-Thiruvallur Main Road?

The Sunguvarchattram Sub Registrar Office handles property registrations for ChengelPattu-Thiruvallur Main Road, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu.