Guideline Value for MATTUMANDAI

Mattumandai guideline value

The current guideline value of Mattumandai is Rs 2,150 per sq.ft, effective from 1 July 2024. This area is located in Thiruvottiyur village, under the Thiruvottiyur SRO, and is classified as Residential Class I Type - II.

How the guideline value of Mattumandai has changed

The guideline value for Mattumandai has seen several revisions over the years. In 2007, the value was Rs 400 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012. However, it then decreased to Rs 1,340 per sq.ft in 2017. The most recent figures show an increase to Rs 2,000 per sq.ft in 2023 and further to Rs 2,150 per sq.ft in 2024, marking an 8% rise from the previous year.

In summary, the guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 2,150 per sq.ft in 2024, reflecting an overall increase of 438% over this period. Notably, the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Thiruvottiyur

In Thiruvottiyur, there are 177 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 8,600 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value for Mattumandai is below this median.

• Ma.Ve.Na. Nagar: Rs 2,800 per sq.ft (2024)
• Masthan Koil Pattai: Rs 3,300 per sq.ft (2024)
• Marvadi Quarters: Rs 3,300 per sq.ft (2024)
• Market Lane Kaladipet: Rs 2,800 per sq.ft (2024)
• Manikkam Nagar Extn: Rs 3,300 per sq.ft (2024)
• Manikkam Nagar: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Mattumandai

For a 1,000 sq.ft plot at the current guideline value of Rs 2,150 per sq.ft, the total guideline value would be Rs 21,50,000. The stamp duty at 7% would amount to Rs 1,50,500, and the registration fee at 2% would be Rs 43,000. Together, these fees would total Rs 1,93,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mattumandai?

The Sub Registrar Office that covers Mattumandai is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of property transactions in Thiruvottiyur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in property dealings.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees, which are mandatory for the legal transfer of ownership. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Mattumandai?

The current guideline value of Mattumandai is Rs 2,150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 2,150 per sq.ft in 2024, with various revisions in between. The most significant increase occurred from 2012 to 2017, where it decreased to Rs 1,340 per sq.ft, before rising again in subsequent years.

What are the stamp duty and registration fees for property in Mattumandai?

For a 1,000 sq.ft plot at the current guideline value, the total guideline value would be Rs 21,50,000. The stamp duty would be Rs 1,50,500, and the registration fee would be Rs 43,000, totaling Rs 1,93,500.

Which Sub Registrar Office covers the area of Mattumandai?

The Thiruvottiyur Sub Registrar Office covers Mattumandai, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

How is the guideline value used in property transactions?

The guideline value is used to determine the minimum price for property registration and is essential for calculating stamp duty and registration fees. It ensures transparency and legality in property transactions within the region.