Guideline Value for MIDDLE STREET

Middle Street guideline value

The current guideline value of Middle Street in Mathuranthagam village is Rs 1,110 per sq.ft, effective from 1 July 2024. This area falls under the Madurandakam SRO and is classified as Residential Special Type - I.

How the guideline value of Middle Street has changed

The guideline value for Middle Street has seen several revisions over the years. The earliest recorded revision is from 2007, where the value was Rs 175 per sq.ft. This increased significantly to Rs 1,000 per sq.ft in 2012, marking a substantial rise of 471%. However, it then decreased to Rs 670 per sq.ft in 2017, a drop of 33%. The value rebounded to Rs 1,000 per sq.ft in 2023, before reaching the current figure of Rs 1,110 per sq.ft in 2024, reflecting an increase of 11% from the previous year.

There are no recorded figures for Middle Street in the years 2002 and 2003. Overall, from the 2007 revision to the current 2024 rate, the guideline value has increased by 534%.

Guideline values in Mathuranthagam

In Mathuranthagam, there are 109 streets under the Madurandakam SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 1,480 per sq.ft. The median guideline value for these streets is Rs 1,100 per sq.ft, placing Middle Street's 2024 figure at the median level.

• Mocherri Colony: Rs 660 per sq.ft (2024)
• Mocherri East Street: Rs 660 per sq.ft (2024)
• Mocherri Middle Street: Rs 660 per sq.ft (2024)
• Mocherri South Street: Rs 660 per sq.ft (2024)
• Mocherri West Street: Rs 660 per sq.ft (2024)
• Mocherry Northstreet: Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Middle Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,110 per sq.ft, the total guideline value would be Rs 11,10,000. The stamp duty at 7% would amount to Rs 77,700, and the registration fee at 2% would be Rs 22,200, making the total fees Rs 99,900. 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 more information on fees applicable to your property transaction.

Which Sub Registrar Office covers Middle Street?

The Sub Registrar Office that covers Middle Street is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in property transactions in Mathuranthagam, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that all transactions are conducted fairly and transparently.

Additionally, the guideline value is updated periodically to reflect changes in the real estate market and local conditions. Buyers and sellers should be aware of the current guideline value to ensure compliance with registration requirements and to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Middle Street?

The current guideline value of Middle Street is Rs 1,110 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 175 per sq.ft in 2007 to Rs 1,110 per sq.ft in 2024, showing an overall increase of 534% over the years.

What are the other streets in Mathuranthagam and their guideline values?

Other streets in Mathuranthagam include Mocherri Colony, Mocherri East Street, Mocherri Middle Street, Mocherri South Street, Mocherri West Street, and Mocherry Northstreet, all valued at Rs 660 per sq.ft in 2024.

What fees are associated with buying property in Middle Street?

When buying property in Middle Street, you will incur stamp duty at 7% and a registration fee at 2% of the guideline value. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 99,900.

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

The Sub Registrar Office covering Middle Street is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.