Guideline Value for MATHIAZHAGAN NAGAR

Mathiazhagan Nagar guideline value

The current guideline value of Mathiazhagan Nagar is Rs 2,500 per sq.ft, effective from 1 July 2024. This area is located in Padi village, under the Villivakkam SRO, and is classified as Residential Class V Type - I.

How the guideline value of Mathiazhagan Nagar has changed

The guideline value for Mathiazhagan Nagar has seen several revisions over the years. The earliest recorded figure is from 2002, which was Rs 388 per sq.ft. This increased to Rs 850 per sq.ft in 2007, marking a significant rise of 119%. The value then surged to Rs 2,300 per sq.ft in 2012, a remarkable increase of 171%. However, it decreased to Rs 1,541 per sq.ft in 2017, reflecting a drop of 33%. By 2023, the guideline value rose to Rs 2,300 per sq.ft, a substantial increase of 49% from the previous revision. The latest revision in 2024 set the value at Rs 2,500 per sq.ft, an increase of 9% from 2023.

The register does not have a figure for Mathiazhagan Nagar for the year 2003. Overall, from 2002 to 2024, the guideline value has increased by 544%.

Guideline values in Padi

In Padi village, there are 354 streets under the Villivakkam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 13,200 per sq.ft, with a median value of Rs 3,800 per sq.ft. The guideline value for Mathiazhagan Nagar is below this median.

• Mettukulam (M.T.H.Road): Rs 8,200 per sq.ft (2024)
• M.G.R.Nagar (Near Canal-Slums): Rs 2,200 per sq.ft (2024)
• M.M.M.Hospital Road (Bazaar Road): Rs 9,900 per sq.ft (2024)
• Mogappair Road (Estate Road): Rs 9,900 per sq.ft (2024)
• Mosque Street: Rs 4,900 per sq.ft (2024)
• M.T.H.Road: Rs 8,200 per sq.ft (2024)

Stamp duty and registration fee for property in Mathiazhagan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,500 per sq.ft, the total guideline value would be Rs 25,00,000. The stamp duty at 7% would amount to Rs 1,75,000, and the registration fee at 2% would be Rs 50,000, totaling Rs 2,25,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Mathiazhagan Nagar?

The Sub Registrar Office that covers Mathiazhagan Nagar is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. To find your SRO, you can visit find your SRO.

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

The guideline value is an essential factor when registering property transactions in Padi. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of property.

Frequently asked questions

What is the current guideline value of Mathiazhagan Nagar?

The current guideline value of Mathiazhagan Nagar is Rs 2,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 388 per sq.ft in 2002 to Rs 2,500 per sq.ft in 2024, which is an overall increase of 544%.

What is the land classification for Mathiazhagan Nagar?

Mathiazhagan Nagar is classified as Residential Class V Type - I.

What are the stamp duty rates for properties in Mathiazhagan Nagar?

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

Where is the Villivakkam Sub Registrar Office located?

The Villivakkam Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.