Guideline Value for HAI MATHAJI NAGAR

Hai Mathaji Nagar guideline value

The current guideline value of Hai Mathaji Nagar is Rs 626 per sq.ft, effective from 1 July 2024. This area is located in Kakkalur village and falls under the Tiruvallur Joint 1 SRO, classified as Residential Class II Type - III.

How the guideline value of Hai Mathaji Nagar has changed

Over the years, the guideline value of Hai Mathaji Nagar has seen several revisions. The 2012 revision set the value at Rs 625 per sq.ft, which then decreased to Rs 419 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly by 49%, bringing it back to Rs 626 per sq.ft in the 2023 revision. Notably, there were no figures recorded for this street in the revisions of 2002, 2003, and 2007.

The current guideline value remains unchanged from the 2023 revision, reflecting a stable rate of Rs 626 per sq.ft in the 2024 revision. Overall, comparing the values from 2012 to 2024, there has been no net change, as the value in 2012 was Rs 625 per sq.ft, and it is now Rs 626 per sq.ft.

Guideline values in Kakkalur

Kakkalur village has 133 streets under the Tiruvallur Joint 1 SRO, with the 2024 guideline values ranging from Rs 400 to Rs 3,000 per sq.ft. The median guideline value for these streets is Rs 626 per sq.ft, which is the same as the current value for Hai Mathaji Nagar.

• Green Gold Lay Out: Rs 626 per sq.ft (2024)
• Indian Bank Colony: Rs 626 per sq.ft (2024)
• Indian Bank Nagar& Annex: Rs 626 per sq.ft (2024)
• Indira Gandhi Salai: Rs 626 per sq.ft (2024)
• I.O.B. Colony: Rs 800 per sq.ft (2024)
• Gangai Street: Rs 626 per sq.ft (2024)

Stamp duty and registration fee for property in Hai Mathaji Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 626 per sq.ft, the total guideline value amounts to Rs 6,26,000. The stamp duty is charged at 7%, which totals Rs 43,820, while the registration fee at 2% amounts to Rs 12,520. Together, the total cost for stamp duty and registration fee is Rs 56,340. It is important 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 more details.

Which Sub Registrar Office covers Hai Mathaji Nagar?

The Sub Registrar Office that covers Hai Mathaji Nagar is the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001. You can find your SRO for more information.

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

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

When a property is sold, the sale price or the guideline value, whichever is higher, is used to calculate the applicable duties and fees. This ensures that the registration process is transparent and standardized across the region.

Frequently asked questions

What is the current guideline value of Hai Mathaji Nagar?

The current guideline value of Hai Mathaji Nagar is Rs 626 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, with the most recent revision in 2024 maintaining the value at Rs 626 per sq.ft, the same as in 2023. The value was Rs 419 per sq.ft in 2017 and Rs 625 per sq.ft in 2012.

What is the land classification of Hai Mathaji Nagar?

Hai Mathaji Nagar is classified as Residential Class II Type - III, indicating its suitability for residential development.

How is stamp duty calculated in Hai Mathaji Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For instance, a property valued at Rs 6,26,000 would incur a stamp duty of Rs 43,820 at a rate of 7%.

Where can I find the Sub Registrar Office for Hai Mathaji Nagar?

The Sub Registrar Office for Hai Mathaji Nagar is the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001.