Guideline Value for Machine Road

Machine Road guideline value

The current guideline value of Machine Road in Kattupakkam village, under the Kunrathur SRO, is Rs 2,090 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Machine Road has changed

The guideline value for Machine Road has seen significant changes over the years. The earliest recorded revision was in 2003, with a guideline value of Rs 102 per sq.ft. This increased to Rs 350 per sq.ft in 2007, marking a substantial rise of 243%. In 2012, the value was Rs 1,900 per sq.ft, reflecting a remarkable increase of 443% from the previous revision. However, the value dropped to Rs 1,273 per sq.ft in 2017, a decrease of 33%. The 2023 revision set the value at Rs 1,900 per sq.ft, which then increased to Rs 2,090 per sq.ft in 2024, a rise of 10%.

Overall, from 2003 to 2024, the guideline value has increased by 1949%. It is important to note that there is no recorded figure for Machine Road in the 2002 revision.

Guideline values in Kattupakkam

Kattupakkam has a total of 75 streets under the Kunrathur SRO, with the 2024 guideline values ranging from Rs 1,980 to Rs 4,290 per sq.ft. The median guideline value for these streets is Rs 2,090 per sq.ft, which is the same as the current value for Machine Road.

• Mac Nagar: Rs 3,960 per sq.ft (2024)
• Lurthupuram Road: Rs 1,980 per sq.ft (2024)
• Lakshmi Nagar: Rs 2,090 per sq.ft (2024)
• Kundrathur Road: Rs 4,290 per sq.ft (2024)
• Maruthi Nagar: Rs 3,520 per sq.ft (2024)
• Kumaran Nagar: Rs 2,090 per sq.ft (2024)

Stamp duty and registration fee for property in Machine Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,090 per sq.ft, the total guideline value amounts to Rs 20,90,000. The stamp duty at 7% would be Rs 1,46,300, and the registration fee at 2% would be Rs 41,800, totaling Rs 1,88,100. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Machine Road?

The Sub Registrar Office that covers Machine Road is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kattupakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is used to ensure that the transaction is registered at a fair value, reflecting the current market standards. This helps in maintaining transparency and accountability in property transactions.

Frequently asked questions

What is the current guideline value of Machine Road?

The current guideline value of Machine Road is Rs 2,090 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 102 per sq.ft in 2003 to Rs 2,090 per sq.ft in 2024, showing an overall increase of 1949% over this period.

What is the land classification for Machine Road?

Machine Road is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the registration office for Machine Road?

The registration office for Machine Road is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is stamp duty calculated for properties in Kattupakkam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at the current guideline value incurs a total stamp duty of Rs 1,46,300.