Guideline Value for HOSPITAL ROAD

Hospital Road guideline value

The current guideline value of Hospital Road in Mathuranthagam village is Rs 1,110 per sq.ft, 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 Hospital Road has changed

Over the years, the guideline value of Hospital Road has seen several revisions. In 2007, the value was Rs 500 per sq.ft. This increased to Rs 1,000 per sq.ft in 2012, marking a 100% rise. However, it then decreased to Rs 670 per sq.ft in 2017, a decline of 33%. From 2017 to 2023, the value rose significantly to Rs 1,000 per sq.ft, reflecting a 49% increase. The most recent revision in 2024 set the value at Rs 1,110 per sq.ft, a further 11% increase from the previous year.

The register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 122%.

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 value is Rs 1,100 per sq.ft, and Hospital Road's 2024 figure is above this median.

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

Stamp duty and registration fee for property in Hospital Road

For a 1,000 sq.ft plot at the current guideline value of Rs 1,110 per sq.ft, the total guideline value would be Rs 11,10,000. The stamp duty at 7% would amount to Rs 77,700, and the registration fee at 2% would be Rs 22,200, bringing the total to Rs 99,900. Please 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 Hospital Road?

The Sub Registrar Office that covers Hospital Road 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 information.

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

The guideline value is a crucial factor in property transactions, as it determines the minimum price at which a property can be registered. When buying or selling property in Mathuranthagam, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these costs are based on a standardized valuation.

It is important for buyers and sellers to be aware of the current guideline value, as it directly impacts the overall cost of property transactions. Understanding the guideline value helps in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Hospital Road?

The current guideline value of Hospital Road 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 changed from Rs 500 per sq.ft in 2007 to Rs 1,110 per sq.ft in 2024, marking an overall increase of 122%.

What is the land classification for Hospital Road?

Hospital Road is classified as Residential Special Type - I under the Madurandakam SRO.

Where can I find the Sub Registrar Office for Hospital Road?

The Sub Registrar Office for Hospital Road is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Hospital Road?

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