Guideline Value for MEENATCHIAMMAL STREET

Meenatchiammal Street guideline value

The current guideline value of Meenatchiammal Street in Matthur village, under the Thiruvottiyur SRO, is Rs 1,100 per sq.ft, effective from 1 July 2024. The land classification for this street is Residential Special Type - III.

How the guideline value of Meenatchiammal Street has changed

The guideline value for Meenatchiammal Street has undergone several revisions since 2002. The values are as follows: in 2002, the guideline value was Rs 52 per sq.ft, which increased to Rs 62 per sq.ft in 2003. The value saw a significant rise to Rs 100 per sq.ft in 2007, followed by a sharp increase to Rs 1,000 per sq.ft in 2012. However, it decreased to Rs 670 per sq.ft in 2017. The value then rose to Rs 1,000 per sq.ft in 2023 and is currently set at Rs 1,100 per sq.ft from 2024.

Between the revisions, the changes were notable. From 2002 to 2003, the increase was +19%. The rise from 2003 to 2007 was +61%. The value jumped by +900% from 2007 to 2012. A decline of -33% was observed from 2012 to 2017. The value increased by +49% from 2017 to 2023, and the latest revision from 2023 to 2024 reflects a +10% increase. Overall, from 2002 to 2024, the guideline value has increased by +2015%.

Guideline values in Matthur

In Matthur, there are 66 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 3,300 per sq.ft. The median guideline value is Rs 1,100 per sq.ft, placing Meenatchiammal Street at this median value.

• Mathur Pudhu Nagar: Rs 1,100 per sq.ft (2024)
• Mathiezhil Asires Iyar Nagar (Teachers Colony): Rs 1,100 per sq.ft (2024)
• Masilamani Nagar: Rs 1,100 per sq.ft (2024)
• M G R High Road / M G R Cross Street: Rs 1,100 per sq.ft (2024)
• M G R Nagar: Rs 1,100 per sq.ft (2024)
• M.Parvathi Nagar: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Meenatchiammal 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 duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Meenatchiammal Street?

The Sub Registrar Office that covers Meenatchiammal Street is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Matthur. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on the official valuation rather than the sale price alone.

When a property transaction occurs, the guideline value helps determine the amount of tax payable to the government. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Meenatchiammal Street?

The current guideline value of Meenatchiammal 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 significantly from Rs 52 per sq.ft in 2002 to Rs 1,100 per sq.ft in 2024, reflecting an overall increase of +2015% over this period.

What are the other streets in Matthur with the same guideline value?

Several other streets in Matthur also have a guideline value of Rs 1,100 per sq.ft in 2024, including Mathur Pudhu Nagar, Mathiezhil Asires Iyar Nagar (Teachers Colony), Masilamani Nagar, M G R High Road / M G R Cross Street, M G R Nagar, and M.Parvathi Nagar.

What is the registration fee for property in Meenatchiammal Street?

The registration fee for property transactions in Meenatchiammal Street is calculated at 2% of the guideline value. For a property valued at Rs 11,00,000, the registration fee would be Rs 22,000.

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

The Sub Registrar Office covering Meenatchiammal Street is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find more information by visiting the provided link.