Guideline Value for K.A.MATHIAZHAGAN STREET

K.A.Mathiazhagan Street guideline value

The current guideline value of K.A.Mathiazhagan Street is Rs 800 per sq.ft, effective from 1 July 2024. This street is located in Vengathur village, under the Manavalanagar SRO, classified as Residential Class I Type - II.

How the guideline value of K.A.Mathiazhagan Street has changed

The guideline value for K.A.Mathiazhagan Street has undergone several revisions over the years. The 2007 revision set the value at Rs 125 per sq.ft, which increased significantly to Rs 800 per sq.ft in the 2012 revision. However, it then decreased to Rs 536 per sq.ft in 2017, before rising again to Rs 800 per sq.ft in both the 2023 and 2024 revisions. The register has no figure for the years 2002 and 2003.

From 2017 to 2023, the value increased by 49%, while the jump from 2007 to 2012 was a remarkable 540%. Overall, from 2007 to 2024, the guideline value has increased by 540%, maintaining a value of Rs 800 per sq.ft in the last two revisions.

Guideline values in Vengathur

In Vengathur, there are 186 streets under the Manavalanagar SRO, with guideline values ranging from Rs 500 to Rs 2,000 per sq.ft. The median value is Rs 1,000 per sq.ft, which means K.A.Mathiazhagan Street's 2024 figure is below that median.

• Kamban Street: Rs 600 per sq.ft (2024)
• Kamaraj Street (Kabilar Nagar): Rs 1,300 per sq.ft (2024)
• Kamaraj Street: Rs 1,300 per sq.ft (2024)
• Kannaki Street: Rs 700 per sq.ft (2024)
• Kanniayamman Koil Street: Rs 1,300 per sq.ft (2024)
• Karikalan Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in K.A.Mathiazhagan Street

For a 1,000 sq.ft plot at the current rate of Rs 800 per sq.ft, the guideline value amounts to Rs 8,00,000. The stamp duty at 7% would be Rs 56,000, and the registration fee at 2% would be Rs 16,000, totaling Rs 72,000. 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 K.A.Mathiazhagan Street?

K.A.Mathiazhagan Street falls under the jurisdiction of the Manavalanagar Sub Registrar Office. The address is Sub Registrar Office, Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in property transactions in Vengathur. It is used to determine the stamp duty and registration fees during the registration process, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling a property, the guideline value serves as a benchmark for the transaction price. It is essential for both buyers and sellers to be aware of the guideline value to ensure compliance with legal and financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of K.A.Mathiazhagan Street?

The current guideline value of K.A.Mathiazhagan Street is Rs 800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 125 per sq.ft in 2007 to Rs 800 per sq.ft in 2012, then decreased to Rs 536 per sq.ft in 2017, and increased to Rs 800 per sq.ft in 2023 and 2024.

What is the classification of K.A.Mathiazhagan Street?

K.A.Mathiazhagan Street is classified as Residential Class I Type - II under the Manavalanagar SRO.

What are the stamp duty rates for properties in K.A.Mathiazhagan Street?

The stamp duty for properties in K.A.Mathiazhagan Street is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for K.A.Mathiazhagan Street located?

The Sub Registrar Office for K.A.Mathiazhagan Street is located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.