Guideline Value for Mathavan Nagar

Mathavan Nagar guideline value

The current guideline value of Mathavan Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Puthagaram village, under the Ambattur SRO, and is classified as Residential Special Type - III.

How the guideline value of Mathavan Nagar has changed

In the 2012 revision, the guideline value was set at Rs 2,200 per sq.ft. This figure remained unchanged until the 2017 revision, where it dropped to Rs 1,474 per sq.ft. Following this, the value increased significantly by 49% to Rs 2,200 per sq.ft in the 2023 revision, and it has remained at the same rate in the 2024 revision, showing no change from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for Mathavan Nagar. Overall, from 2012 to 2024, the guideline value has seen no net change, remaining at Rs 2,200 per sq.ft.

Guideline values in Puthagaram

In Puthagaram village, there are 140 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 1,200 to Rs 3,800 per sq.ft, with a median value of Rs 1,900 per sq.ft. The guideline value for Mathavan Nagar is above this median.

• Mathavan Nagar anex: Rs 2,200 per sq.ft (2024)
• M.K.M.Nagar: Rs 1,300 per sq.ft (2024)
• Magathma ganthi Nagar: Rs 1,300 per sq.ft (2024)
• Lakshmi Nagar anex: Rs 2,200 per sq.ft (2024)
• Lakshmi Nagar: Rs 2,200 per sq.ft (2024)
• Lakshmi Amman Kovil Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Mathavan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost for these fees to Rs 1,98,000. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mathavan Nagar?

The Sub Registrar Office that covers Mathavan Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions, as it determines the minimum value at which a property can be registered. When buying or selling a property in Puthagaram, the guideline value is used to calculate the stamp duty and registration fees that need to be paid during the registration process.

It is important for buyers and sellers to be aware of the current guideline value, as it impacts the overall cost of the transaction. Ensuring compliance with the guideline value can help in smooth processing during property registration.

Frequently asked questions

What is the current guideline value of Mathavan Nagar?

The current guideline value of Mathavan Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the most recent figures being Rs 2,200 per sq.ft in both 2023 and 2024. The value was Rs 1,474 per sq.ft in 2017 and Rs 2,200 per sq.ft in 2012.

What is the land classification for Mathavan Nagar?

Mathavan Nagar is classified as Residential Special Type - III, which indicates its suitability for residential developments.

Where can I find the Sub Registrar Office for Mathavan Nagar?

The Sub Registrar Office for Mathavan Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is the stamp duty calculated for properties in Mathavan Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 at 7%.