Guideline Value for Mathavapuram Centre Street

Mathavapuram Centre Street guideline value

The current guideline value of Mathavapuram Centre Street is Rs 5,000 per sq.ft, effective from 1 July 2024. This street is located in Alandur village, under the Alandur SRO, and is classified as Residential Class I Type - II.

How the guideline value of Mathavapuram Centre Street has changed

The guideline value for Mathavapuram Centre Street has seen several revisions over the years. In 2002, the value was Rs 324 per sq.ft, which increased to Rs 352 per sq.ft in 2003. The value then rose significantly to Rs 1,000 per sq.ft in 2007, followed by a further increase to Rs 4,500 per sq.ft in 2012. However, there was a decline to Rs 3,015 per sq.ft in 2017. The guideline value was revised to Rs 4,500 per sq.ft in 2023, and it has now reached Rs 5,000 per sq.ft in the 2024 revision.

Between the revisions, the changes were as follows: from 2002 to 2003, the increase was +9%; from 2003 to 2007, it rose by +184%; from 2007 to 2012, there was a +350% increase; however, from 2012 to 2017, the value decreased by -33%. The value then increased by +49% from 2017 to 2023, and most recently, there was an increase of +11% from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by +1443%.

Guideline values in Alandur

Alandur village has 40 streets under the Alandur SRO that carry a 2024 guideline value, ranging from Rs 3,900 to Rs 11,000 per sq.ft. The median value is Rs 5,000 per sq.ft, which is equal to the current guideline value of Mathavapuram Centre Street.

• Mathavapuram East Street/Madhavapuram perumal East street: Rs 5,000 per sq.ft (2024)
• Mathavapuram North Street: Rs 5,000 per sq.ft (2024)
• Mathavapuram South Street: Rs 5,000 per sq.ft (2024)
• Mathavapuram West Street: Rs 5,000 per sq.ft (2024)
• Market Lane: Rs 5,500 per sq.ft (2024)
• Marisan Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Mathavapuram Centre Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,000 per sq.ft, the total guideline value is Rs 50,00,000. The stamp duty at 7% would be Rs 3,50,000, and the registration fee at 2% would be Rs 1,00,000, resulting in a total cost of Rs 4,50,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Mathavapuram Centre Street?

The Sub Registrar Office that covers Mathavapuram Centre Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Alandur. It serves as a benchmark for determining the minimum value at which a property can be registered. When a property is sold, the registration office uses the guideline value to calculate the applicable stamp duty and registration fees.

Buyers and sellers should be aware that the guideline value may differ from the actual sale price. However, the registration fees and stamp duty are charged based on the higher of the guideline value or the sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Mathavapuram Centre Street?

The current guideline value of Mathavapuram Centre Street is Rs 5,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 324 per sq.ft in 2002 to Rs 5,000 per sq.ft in 2024, with various increases and one decrease along the way.

What is the land classification for Mathavapuram Centre Street?

Mathavapuram Centre Street is classified as Residential Class I Type - II.

Where can I find the Sub Registrar Office for Mathavapuram Centre Street?

The Sub Registrar Office for Mathavapuram Centre Street is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, if the guideline value is Rs 50,00,000, the stamp duty at 7% would be Rs 3,50,000.