Guideline Value for Mathavapuram North Street

Mathavapuram North Street guideline value

The current guideline value of Mathavapuram North 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 North Street has changed

The guideline value for Mathavapuram North Street has seen significant changes over the years. In 2002, the value was Rs 324 per sq.ft, which increased to Rs 352 per sq.ft in 2003, marking a 9% rise. The value then rose dramatically to Rs 1,000 per sq.ft in 2007, reflecting a 184% increase. Following this, in 2012, the value was Rs 4,500 per sq.ft, which was a substantial increase of 350% from the previous revision.

The subsequent revisions showed varied changes. In 2017, the guideline value was Rs 3,015 per sq.ft, indicating a decrease of 33% from 2012. The value then increased to Rs 4,500 per sq.ft in 2023, which was a 49% rise. Finally, the current 2024 revision sets the guideline value at Rs 5,000 per sq.ft, marking an 11% increase from the previous year. There are no figures available for the revisions in years not listed.

Guideline values in Alandur

Alandur village has 40 streets under the Alandur SRO, with guideline values in 2024 ranging from Rs 3,900 to Rs 11,000 per sq.ft. The median value is Rs 5,000 per sq.ft, which is the same as the guideline value for Mathavapuram North Street.

• Mathavapuram East Street/Madhavapuram perumal East street: Rs 5,000 per sq.ft (2024)
• Mathavapuram South Street: Rs 5,000 per sq.ft (2024)
• Mathavapuram Centre 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 North Street

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

Which Sub Registrar Office covers Mathavapuram North Street?

The Sub Registrar Office that covers Mathavapuram North 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 plays a crucial role in the registration process of property transactions in Alandur. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property. The fees are calculated based on the higher value between the guideline value and the sale price.

When a property is registered, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in property dealings. Buyers and sellers should be aware of the guideline value to ensure compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of Mathavapuram North Street?

The current guideline value of Mathavapuram North 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 significantly, from Rs 324 per sq.ft in 2002 to Rs 5,000 per sq.ft in 2024, reflecting an overall increase of 1443% over the years.

What are the stamp duty rates for property in Mathavapuram North Street?

The stamp duty for property transactions in Mathavapuram North Street is 7% of the guideline value or the sale price, whichever is higher.

Where is the Alandur Sub Registrar Office located?

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

What is the land classification for Mathavapuram North Street?

Mathavapuram North Street is classified as Residential Class I Type - II, which indicates its suitability for residential purposes.