Guideline Value for Matha Koil Street

Matha Koil Street guideline value

The current guideline value of Matha Koil Street is Rs 770 per sq.ft, effective from 1 July 2024. This street is located in Padiyanallur village, under the Redhills SRO, and is classified as Residential Class I Type - I.

How the guideline value of Matha Koil Street has changed

The guideline value for Matha Koil Street has seen several revisions over the years. In 2003, the value was Rs 171 per sq.ft, which increased significantly to Rs 400 per sq.ft in 2007. Following this, the value rose to Rs 700 per sq.ft in 2012, before dropping to Rs 469 per sq.ft in 2017. The value then jumped to Rs 700 per sq.ft in 2023, and most recently increased to Rs 770 per sq.ft in 2024, marking a 10% rise from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 350%. The register does not have a figure for Matha Koil Street for the year 2002.

Guideline values in Padiyanallur

Padiyanallur village has a total of 132 streets under the Redhills SRO, with the 2024 guideline values ranging from Rs 385 to Rs 2,750 per sq.ft. The median value for these streets is Rs 770 per sq.ft, which is equal to the guideline value of Matha Koil Street.

• Masuthi Street: Rs 770 per sq.ft (2024)
• Marudhupandiar Street: Rs 1,320 per sq.ft (2024)
• Meenakshi Nagar: Rs 385 per sq.ft (2024)
• Maraimalai Adigal Street: Rs 770 per sq.ft (2024)
• M.A.Nagar Varadarasanar Street: Rs 770 per sq.ft (2024)
• M.G.R. Street: Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Matha Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value would be Rs 7,70,000. The stamp duty at 7% would amount to Rs 53,900, and the registration fee at 2% would be Rs 15,400, bringing the total cost for these fees to Rs 69,300. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Matha Koil Street?

The Sub Registrar Office that covers Matha Koil Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Padiyanallur. It is the minimum value set by the government for property transactions, ensuring that the property is registered at a fair value. This value is used to calculate the stamp duty and registration fees applicable for the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to determine the applicable fees. This ensures that the government receives the appropriate revenue from property transactions, based on the established guideline values.

Frequently asked questions

What is the current guideline value of Matha Koil Street?

The current guideline value of Matha Koil Street is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 171 per sq.ft in 2003 to Rs 770 per sq.ft in 2024, reflecting an overall increase of 350% over this period.

What is the registration office for Matha Koil Street?

The registration office for Matha Koil Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the stamp duty rate in Tamil Nadu?

The stamp duty rate in Tamil Nadu is typically 7%, which is applied to the higher of the guideline value or the sale price of the property.

Are there other streets with the same guideline value in Padiyanallur?

Yes, other streets in Padiyanallur, such as Masuthi Street, Maraimalai Adigal Street, and M.A.Nagar Varadarasanar Street, also have a guideline value of Rs 770 per sq.ft for the year 2024.