Guideline Value for KUTCHERI STREET

Kutcheri Street guideline value

The current guideline value of Kutcheri Street in Mathuranthagam village is Rs 1,100 per sq.ft, effective from 1 July 2024. This street falls under the Madurandakam SRO and is classified as Commercial Class I Type - I.

How the guideline value of Kutcheri Street has changed

The guideline value of Kutcheri Street has seen several revisions over the years. In 2007, the value was Rs 500 per sq.ft, which increased to Rs 1,000 per sq.ft in 2012, marking a significant rise of 100%. However, it decreased to Rs 670 per sq.ft in 2017, a drop of 33%. The value then rose to Rs 1,000 per sq.ft in 2023, and the most recent revision in 2024 set the value at Rs 1,100 per sq.ft, reflecting an increase of 10% from the previous year. The register has no figures for the years 2002 and 2003.

Overall, from 2007 to 2024, the guideline value has increased by 120%. The changes between revisions illustrate the fluctuations in the guideline value over the years, with the most notable increase occurring between 2017 and 2023, where the value rose by 49%.

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 for these streets is Rs 1,100 per sq.ft, which is equal to the guideline value of Kutcheri Street.

• Kushee Nagar: Rs 1,480 per sq.ft (2024)
• Kudumi Street: Rs 1,110 per sq.ft (2024)
• Krishnapriya Nagar: Rs 1,110 per sq.ft (2024)
• Kottanakara Street: Rs 1,110 per sq.ft (2024)
• Maharishi Nagar: Rs 1,110 per sq.ft (2024)
• Mahaveer Nagar: Rs 1,110 per sq.ft (2024)

Stamp duty and registration fee for property in Kutcheri Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total fees to Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kutcheri Street?

The Sub Registrar Office that covers Kutcheri Street 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 plays a crucial role in the registration process when buying or selling property in Mathuranthagam. It is used to determine the stamp duty and registration fees applicable to the transaction. Buyers and sellers should be aware that the guideline value is set by the government and reflects the standard rate for properties in the area.

When a property is registered, the guideline value is considered to ensure that the appropriate taxes are collected. It is essential for both parties to understand the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Kutcheri Street?

The current guideline value of Kutcheri Street is Rs 1,100 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 1,100 per sq.ft in 2024, indicating an overall increase of 120% over the years.

What are the other streets in Mathuranthagam with their guideline values?

Other streets in Mathuranthagam include Kushee Nagar at Rs 1,480 per sq.ft, Kudumi Street, Krishnapriya Nagar, Kottanakara Street, Maharishi Nagar, and Mahaveer Nagar, all at Rs 1,110 per sq.ft.

What fees are applicable when registering property in Kutcheri Street?

The fees applicable when registering property in Kutcheri Street include a stamp duty of 7% and a registration fee of 2%, calculated based on the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Kutcheri Street?

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