Guideline Value for MATTRY SQUARE

Mattry Square guideline value

The current guideline value of Mattry Square, located in Cantonment Pallavaram village, is Rs 2,200 per sq.ft, effective from 1 July 2024. This area falls under the Pallavaram SRO and is classified as Residential Class III Type - I.

How the guideline value of Mattry Square has changed

Over the years, the guideline value of Mattry Square has seen several revisions. The 2012 revision set the value at Rs 2,000 per sq.ft, which was then reduced to Rs 1,340 per sq.ft in the 2017 revision. However, the value increased significantly to Rs 2,000 per sq.ft again in 2023, and currently stands at Rs 2,200 per sq.ft from the 2024 revision. The register has no figures for the years 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%, followed by a substantial increase of 49% from 2017 to 2023. The guideline value then increased by 10% from 2023 to 2024. Overall, the change from 2012 to 2024 shows a net increase of 10% in the guideline value.

Guideline values in Cantonment Pallavaram

Cantonment Pallavaram has a variety of guideline values across its 81 streets under the Pallavaram SRO, ranging from Rs 1,650 to Rs 11,000 per sq.ft, with a median value of Rs 2,700 per sq.ft. The guideline value of Mattry Square is below this median.

• Market Lane: Rs 3,300 per sq.ft (2024)
• Mariyamman Koil Street: Rs 3,300 per sq.ft (2024)
• Mariyamman Koil I1st Street: Rs 3,300 per sq.ft (2024)
• Mariyamman Koil 3rd Street: Rs 3,300 per sq.ft (2024)
• Mariyamman Koil 2nd Street: Rs 3,300 per sq.ft (2024)
• Milagupillai Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Mattry Square

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost for these fees to Rs 1,98,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Mattry Square?

The Sub Registrar Office that covers Mattry Square is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Cantonment Pallavaram. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the stamp duty and registration fees are calculated based on a fair valuation.

When buying or selling property, the guideline value helps in establishing a transparent process. Buyers should be aware that the stamp duty is charged on the higher of the guideline value or the sale price, which ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Mattry Square?

The current guideline value of Mattry Square is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then back to Rs 2,000 per sq.ft in 2023, and currently stands at Rs 2,200 per sq.ft from the 2024 revision.

What is the land classification of Mattry Square?

Mattry Square is classified as Residential Class III Type - I according to the guidelines set by the Pallavaram SRO.

What is the registration office for Mattry Square?

The registration office for Mattry Square is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is stamp duty calculated for properties in Mattry Square?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 1,54,000.