Guideline Value for Mathavan Naidu Main Road

Mathavan Naidu Main Road guideline value

The current guideline value of Mathavan Naidu Main Road is Rs 1,650 per sq.ft, effective from 1 July 2024. This road is located in Chitlapakkam village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Mathavan Naidu Main Road has changed

The guideline value for Mathavan Naidu Main Road has seen several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which was then reduced to Rs 1,005 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 1,500 per sq.ft, and the most recent 2024 revision raised it further to the current value of Rs 1,650 per sq.ft. Notably, there are no figures available for the revisions in 2002, 2003, and 2007.

To summarize the changes: from 2012 to 2017, the value decreased by 33%. However, from 2017 to 2023, there was a significant increase of 49%. The guideline value then increased by 10% from 2023 to 2024, resulting in an overall increase of 10% from 2012 to 2024.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value is Rs 1,650 per sq.ft, which matches the current value of Mathavan Naidu Main Road.

• Mathuvar Street: Rs 1,320 per sq.ft (2024)
• Mayur Avenue: Rs 2,750 per sq.ft (2024)
• Maruthuvar Street: Rs 2,750 per sq.ft (2024)
• Maruthupandiyar Street: Rs 2,750 per sq.ft (2024)
• Maruthi Street: Rs 1,650 per sq.ft (2024)
• Meenakshi Ist Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Mathavan Naidu Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, resulting in a total of Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Mathavan Naidu Main Road?

The Sub Registrar Office that covers Mathavan Naidu Main Road is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Chitlapakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, it is essential to be aware of the guideline value, as it affects the overall cost of the transaction. Buyers should ensure that the sale price is in line with the guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Mathavan Naidu Main Road?

The current guideline value of Mathavan Naidu Main Road is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with the most recent increase being from Rs 1,500 per sq.ft in 2023 to Rs 1,650 per sq.ft in 2024. Overall, from 2012 to 2024, the value has increased by 10%.

What is the land classification for Mathavan Naidu Main Road?

The land classification for Mathavan Naidu Main Road is Residential Class I Type - III, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Mathavan Naidu Main Road?

The Sub Registrar Office for Mathavan Naidu Main Road is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

What fees are associated with registering property in Mathavan Naidu Main Road?

When registering property in Mathavan Naidu Main Road, fees include stamp duty at 7% of the guideline value and a registration fee at 2%. For example, a property valued at Rs 16,50,000 would incur a total fee of Rs 1,48,500.