Guideline Value for MathaKovil Street

MathaKovil Street guideline value

The current guideline value of MathaKovil Street is Rs 450 per sq.ft, effective from 1 July 2024. This street is located in Sokandi village and falls under the Sunguvarchattram SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of MathaKovil Street has changed

In the 2012 revision, the guideline value was set at Rs 450 per sq.ft. This remained unchanged in the 2017 revision, where it was Rs 301 per sq.ft, reflecting a decrease of 33%. The value then increased by 50% in the 2023 revision, bringing it back to Rs 450 per sq.ft. The 2024 revision also maintained the guideline value at Rs 450 per sq.ft, showing no change from the previous year.

The register has no figures for MathaKovil Street in the years 2002, 2003, and 2007. Thus, the only revisions with available figures are from 2012, 2017, 2023, and 2024.

Guideline values in Sokandi

In Sokandi village, there are 35 streets under the Sunguvarchattram SRO that carry a 2024 guideline value, ranging from Rs 181 to Rs 1,000 per sq.ft. The median value for these streets is Rs 300 per sq.ft, placing MathaKovil Street's 2024 figure above that median.

• Mariamman Kovil Street: Rs 200 per sq.ft (2024)
• Model Town: Rs 250 per sq.ft (2024)
• Kuzhandai Easu Nagar: Rs 275 per sq.ft (2024)
• Perumal Kovil Street: Rs 275 per sq.ft (2024)
• Perumal Kovil Street (colonyi): Rs 181 per sq.ft (2024)
• Ponniamman nagar: Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in MathaKovil Street

For a 1,000 sq.ft plot at the current rate, the guideline value would be Rs 4,50,000. The stamp duty at 7% would amount to Rs 31,500, and the registration fee at 2% would be Rs 9,000, making the total Rs 40,500. 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 details.

Which Sub Registrar Office covers MathaKovil Street?

The Sub Registrar Office that covers MathaKovil Street is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value serves as a reference for determining the minimum sale price of properties in Sokandi. It is crucial for calculating the stamp duty and registration fees when a property transaction occurs.

When buying or selling a property, the guideline value is used to ensure that the transaction is registered at a value that reflects the local market conditions. This helps maintain transparency in property dealings and ensures that the appropriate taxes are collected by the government.

Frequently asked questions

What is the current guideline value of MathaKovil Street?

The current guideline value of MathaKovil Street is Rs 450 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, with the 2012 revision at Rs 450 per sq.ft, dropping to Rs 301 per sq.ft in 2017, then increasing to Rs 450 per sq.ft in 2023 and remaining the same in 2024.

What is the land classification for MathaKovil Street?

MathaKovil Street is classified as Residential Special Type - I. This classification indicates the intended use of the land for residential purposes.

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

The Sub Registrar Office for MathaKovil Street is located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

How is stamp duty calculated for properties in MathaKovil Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value of Rs 4,50,000, the stamp duty would be Rs 31,500 at 7%.