Guideline Value for M.T.H.ROAD

M.T.H.Road guideline value

The current guideline value of M.T.H.Road in Padi village, under the Villivakkam SRO, is Rs 8,200 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - III.

How the guideline value of M.T.H.Road has changed

Over the years, the guideline value of M.T.H.Road has seen several revisions. The 2007 revision set the value at Rs 3,050 per sq.ft, which increased to Rs 7,500 per sq.ft in 2012. However, this was followed by a decrease to Rs 5,025 per sq.ft in 2017. The value then rose significantly to Rs 7,500 per sq.ft in 2023, and as of the 2024 revision, it stands at Rs 8,200 per sq.ft. The change from 2023 to 2024 reflects an increase of 9%, while the change from 2017 to 2023 shows a rise of 49%. Overall, from 2007 to 2024, the guideline value has increased by 169%.

It is important to note that the register has no figures for the years 2002 and 2003 for M.T.H.Road. The fluctuations in the guideline value indicate varying market conditions and policy adjustments over the years.

Guideline values in Padi

Padi village has a total of 354 streets under the Villivakkam SRO, with the 2024 guideline values ranging from Rs 2,200 to Rs 13,200 per sq.ft. The median guideline value for the village is Rs 3,800 per sq.ft, positioning M.T.H.Road's 2024 figure above this median.

• Mosque Street: Rs 4,900 per sq.ft (2024)
• Mogappair Road (Estate Road): Rs 9,900 per sq.ft (2024)
• M.M.M.Hospital Road (Bazaar Road): Rs 9,900 per sq.ft (2024)
• M.G.R.Nagar (Near Canal-Slums): Rs 2,200 per sq.ft (2024)
• Narayana Bakthar Colony 1st Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in M.T.H.Road

For a 1,000 sq.ft plot at the current guideline value of Rs 8,200 per sq.ft, the total guideline value amounts to Rs 82,00,000. The stamp duty at 7% would be Rs 5,74,000, and the registration fee at 2% would be Rs 1,64,000, bringing the total charges to Rs 7,38,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

To calculate your stamp duty and registration fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers M.T.H.Road?

The Sub Registrar Office that covers M.T.H.Road is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. For more information, you can find your SRO.

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

The guideline value plays a crucial role in the registration of property transactions in Padi. It serves as the basis for calculating the stamp duty and registration fees that must be paid when a property is bought or sold. Buyers and sellers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

When engaging in property transactions, it is essential to refer to the latest guideline values to ensure compliance with the registration requirements. Understanding the guideline value helps in accurately estimating the total costs involved in the buying or selling process.

Frequently asked questions

What is the current guideline value of M.T.H.Road?

The current guideline value of M.T.H.Road is Rs 8,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly over the years, from Rs 3,050 per sq.ft in 2007 to Rs 8,200 per sq.ft in 2024, marking an overall increase of 169%.

What is the land classification for M.T.H.Road?

M.T.H.Road is classified as Residential Class I Type - III, indicating its suitability for residential development.

Where can I find the registration office for M.T.H.Road?

The registration office for M.T.H.Road is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated for properties in M.T.H.Road?

Stamp duty for properties in M.T.H.Road is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total guideline value is Rs 82,00,000, leading to a stamp duty of Rs 5,74,000.