Guideline Value for Mathava Reddy Street(Ramakrishnan Street)

Mathava Reddy Street(Ramakrishnan Street) guideline value

The current guideline value of Mathava Reddy Street (Ramakrishnan Street) is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Tambaram village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Commercial Class I Type - II.

How the guideline value of Mathava Reddy Street(Ramakrishnan Street) has changed

The guideline value for Mathava Reddy Street has seen several revisions over the years. In 2012, the guideline value was Rs 6,000 per sq.ft, which then decreased to Rs 4,020 per sq.ft in 2017. Following this, the value increased significantly to Rs 6,000 per sq.ft in 2023, and then to Rs 6,600 per sq.ft in 2024, marking a 10% increase from the previous year.

Overall, from 2012 to 2024, the guideline value has increased by 10%. The revisions for the years 2002, 2003, and 2007 do not have any figures listed for this street in the register.

Guideline values in Tambaram

In Tambaram, there are 360 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 8,250 per sq.ft. The median guideline value in this area is Rs 3,300 per sq.ft, indicating that Mathava Reddy Street's 2024 figure is above that median.

• Mayor Radha krishnan nagar: Rs 2,200 per sq.ft (2024)
• Meadow Vilas: Rs 2,200 per sq.ft (2024)
• Meenambal Cross Street: Rs 2,200 per sq.ft (2024)
• MeenambalLane: Rs 2,200 per sq.ft (2024)
• Meenambal Nagar: Rs 2,200 per sq.ft (2024)
• Meenambal St: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Mathava Reddy Street(Ramakrishnan Street)

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value amounts to Rs 66,00,000. The stamp duty at 7% would be Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, making the total cost Rs 5,94,000. 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.

Which Sub Registrar Office covers Mathava Reddy Street(Ramakrishnan Street)?

The Sub Registrar Office that covers Mathava Reddy Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, Chengalpattu registration zone. You can find your SRO for additional details.

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

The guideline value is a crucial factor in the registration process of properties in Tambaram. It serves as a reference point for determining the applicable stamp duty and registration fees when a property is bought or sold.

When registering a property, the guideline value is compared to the sale price, and the higher amount is used to calculate the stamp duty and registration fees. This ensures that the fees reflect the actual value of the property being transacted.

Frequently asked questions

What is the current guideline value of Mathava Reddy Street?

The current guideline value of Mathava Reddy Street (Ramakrishnan Street) is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 6,000 per sq.ft in 2012 to Rs 4,020 per sq.ft in 2017, then to Rs 6,000 per sq.ft in 2023, and finally to Rs 6,600 per sq.ft in 2024.

What is the land classification for Mathava Reddy Street?

The land classification for Mathava Reddy Street is Commercial Class I Type - II.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Mathava Reddy Street?

The Sub Registrar Office for Mathava Reddy Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.