Guideline Value for GST ROAD BAZAAR STREET

Gst Road Bazaar Street guideline value

The current guideline value of Gst Road Bazaar Street is Rs 1,110 per sq.ft, effective from 1 July 2024. This street is located in Mathuranthagam village, under the Madurandakam SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Gst Road Bazaar Street has changed

The guideline value for Gst Road Bazaar Street has seen several revisions over the years. In 2007, the value was Rs 600 per sq.ft, which increased to Rs 1,000 per sq.ft in 2012, marking a 67% rise. However, this value decreased by 33% to Rs 670 per sq.ft in 2017. The most significant change occurred between 2017 and 2023, where the value surged by 49% to reach Rs 1,000 per sq.ft. The current revision in 2024 has further increased the value by 11%, bringing it to Rs 1,110 per sq.ft.

It is important to note that there are no figures available for Gst Road Bazaar Street in the 2002 and 2003 revisions. Overall, from 2007 to 2024, the guideline value has increased by 85%.

Guideline values in Mathuranthagam

In Mathuranthagam village, 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 value is Rs 1,100 per sq.ft, placing Gst Road Bazaar Street's 2024 figure above this median.

• Gokulam Nagar: Rs 555 per sq.ft (2024)
• Hospital Nagar: Rs 660 per sq.ft (2024)
• Hospital Road: Rs 1,110 per sq.ft (2024)
• Indhira Nagar: Rs 1,110 per sq.ft (2024)
• Gandhinagar Periya Colony: Rs 660 per sq.ft (2024)
• Gandhinagar Lourdupuram: Rs 555 per sq.ft (2024)

Stamp duty and registration fee for property in Gst Road Bazaar Street

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, and the registration fee at 2% would be Rs 22,200, totaling 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 details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gst Road Bazaar Street?

The Gst Road Bazaar Street falls under the jurisdiction of 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 information.

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

The guideline value is a crucial factor in property transactions in Mathuranthagam. It serves as the basis for calculating stamp duty and registration fees when a property is bought or sold. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal and financial obligations during the registration process.

When a property is registered, the guideline value is compared with the sale price. The higher of the two values is used to determine the applicable stamp duty and registration fees. This ensures that the state receives the correct revenue from property transactions.

Frequently asked questions

What is the current guideline value of Gst Road Bazaar Street?

The current guideline value of Gst Road Bazaar Street is Rs 1,110 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, increasing from Rs 600 per sq.ft in 2007 to Rs 1,110 per sq.ft in 2024, an overall increase of 85%.

What is the land classification for Gst Road Bazaar Street?

The land classification for Gst Road Bazaar Street is Residential Special Type - I.

Where can I find the Sub Registrar Office for Gst Road Bazaar Street?

The Madurandakam Sub Registrar Office covers Gst Road Bazaar Street, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Gst Road Bazaar Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 11,10,000, the stamp duty at 7% would be Rs 77,700.