Guideline Value for Mathavapuram East Street/Madhavapuram perumal East street

Mathavapuram East Street/Madhavapuram perumal East street guideline value

The current guideline value of Mathavapuram East Street/Madhavapuram perumal East 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 East Street/Madhavapuram perumal East street has changed

The guideline value for Mathavapuram East Street/Madhavapuram perumal East street has seen several revisions over the years. The 2012 revision set the value at Rs 4,500 per sq.ft, which then decreased to Rs 3,015 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 4,500 per sq.ft in the 2023 revision, and finally rose to Rs 5,000 per sq.ft in the 2024 revision, marking an 11% increase from the previous year.

Between the revisions, the guideline value changed as follows: from 2017 to 2023, there was a 49% increase, while the 2012 to 2017 period saw a decrease of 33%. Overall, from 2012 to 2024, the guideline value has increased by 11%. The register has no figures for the years 2002, 2003, and 2007 for this street.

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, with the median being Rs 5,000 per sq.ft. The guideline value for Mathavapuram East Street/Madhavapuram perumal East street aligns with this median.

• Mathavapuram Centre 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 East Street/Madhavapuram perumal East street

For a 1,000 sq.ft plot at the current rate of Rs 5,000 per sq.ft, the guideline value amounts to 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, bringing the total to Rs 4,50,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mathavapuram East Street/Madhavapuram perumal East street?

The Sub Registrar Office that covers Mathavapuram East Street/Madhavapuram perumal East 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 during the registration of property transactions in Alandur. It serves as a reference point for calculating the stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value helps determine the minimum value at which a property can be registered. This value is essential for both buyers and sellers to understand their financial obligations during the transaction process.

Frequently asked questions

What is the current guideline value of Mathavapuram East Street/Madhavapuram perumal East street?

The current guideline value of Mathavapuram East Street/Madhavapuram perumal East 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 4,500 per sq.ft in 2012 to Rs 3,015 per sq.ft in 2017, then to Rs 4,500 per sq.ft in 2023, and finally to Rs 5,000 per sq.ft in 2024.

What is the land classification for Mathavapuram East Street/Madhavapuram perumal East street?

Mathavapuram East Street/Madhavapuram perumal East street is classified as Residential Class I Type - II.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office for Mathavapuram East Street/Madhavapuram perumal East street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

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

For a property valued at Rs 50,00,000, the stamp duty would be Rs 3,50,000, and the registration fee would be Rs 1,00,000, totaling Rs 4,50,000. Duty is charged on the higher of the guideline value or the sale price.