Guideline Value for Mathammal Koil Street

Mathammal Koil Street guideline value

The current guideline value of Mathammal Koil Street in Pazhaya Erumai Vettipalayam village is Rs 220 per sq.ft, effective from 1 July 2024. This street falls under the Redhills SRO and is classified as Residential Class I Type - I.

How the guideline value of Mathammal Koil Street has changed

The guideline value for Mathammal Koil Street has undergone several revisions over the years. In 2007, the value was Rs 100 per sq.ft, which increased by 100% to Rs 200 per sq.ft in 2012. However, this value decreased by 33% to Rs 134 per sq.ft in 2017. Following that, the value rose significantly by 49% to Rs 200 per sq.ft in 2023, and it has now increased by 10% to Rs 220 per sq.ft in the 2024 revision.

The register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 120%.

Guideline values in Pazhaya Erumai Vettipalayam

Pazhaya Erumai Vettipalayam has 14 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 110 to Rs 220 per sq.ft. The median value for these streets is Rs 220 per sq.ft, which is equal to the 2024 figure for Mathammal Koil Street.

• Mathammal Koil Street (Pudhu Edapalayam): Rs 220 per sq.ft (2024)
• Mettu Colony Street (Old Edapalayam): Rs 110 per sq.ft (2024)
• Palla Colony Street (Old Edapalayam): Rs 110 per sq.ft (2024)
• Perumal Koil Street (Mettu Colony): Rs 110 per sq.ft (2024)
• Perumal Koil Street (Old Edapalayam): Rs 220 per sq.ft (2024)
• Perumal Koil Street (Pudhu Edapalayam): Rs 220 per sq.ft (2024)

Stamp duty and registration fee for property in Mathammal Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 220 per sq.ft, the total guideline value would be Rs 2,20,000. The stamp duty at 7% would amount to Rs 15,400, and the registration fee at 2% would be Rs 4,400, bringing the total to Rs 19,800. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Mathammal Koil Street?

The Sub Registrar Office that covers Mathammal Koil Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. To find your SRO, you can visit find your SRO.

How the guideline value is used when you buy or sell in Pazhaya Erumai Vettipalayam

The guideline value is crucial during property registration as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to calculate applicable stamp duties and registration fees.

When a property is sold, the guideline value will be used to assess the stamp duty and registration fees, ensuring that these costs are based on the official valuation rather than the sale price alone.

Frequently asked questions

What is the current guideline value of Mathammal Koil Street?

The current guideline value of Mathammal Koil Street is Rs 220 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 100 per sq.ft in 2007 to Rs 220 per sq.ft in 2024, marking an overall increase of 120% over the years.

What are the stamp duty and registration fees for a property here?

For a property valued at Rs 2,20,000, the stamp duty would be Rs 15,400 and the registration fee would be Rs 4,400, totaling Rs 19,800.

Which Sub Registrar Office handles registrations for this street?

The Redhills Sub Registrar Office handles registrations for Mathammal Koil Street, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the land classification for Mathammal Koil Street?

Mathammal Koil Street is classified as Residential Class I Type - I, indicating its designation for residential use.