Guideline Value for Mathavapuram South Street

Mathavapuram South Street guideline value

The current guideline value of Mathavapuram South 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 it falls under the Residential Class I Type - II land classification.

How the guideline value of Mathavapuram South Street has changed

The guideline value for Mathavapuram South Street has seen several revisions over the years. In 2002, the guideline value was Rs 324 per sq.ft, which increased to Rs 352 per sq.ft in 2003. Following this, the value rose significantly to Rs 1,000 per sq.ft in 2007, and then to Rs 4,500 per sq.ft in 2012. However, it dropped to Rs 3,015 per sq.ft in 2017. The value then increased to Rs 4,500 per sq.ft in 2023, before reaching the current rate of Rs 5,000 per sq.ft in 2024.

Between the revisions, the most notable changes include an increase of 11% from 2023 to 2024, a 49% rise from 2017 to 2023, and a significant increase of 350% from 2007 to 2012. 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, with the median being Rs 5,000 per sq.ft. Mathavapuram South Street's 2024 guideline value aligns with this median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 5,000 per sq.ft, the total guideline value would be Rs 50,00,000. The stamp duty at 7% would be Rs 3,50,000, while the registration fee at 2% would be Rs 1,00,000. Together, the total cost for stamp duty and registration fee would be 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.

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

Which Sub Registrar Office covers Mathavapuram South Street?

The Sub Registrar Office that covers Mathavapuram South 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 details.

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

The guideline value is a crucial factor in the registration of property transactions in Alandur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented accurately according to government regulations.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, which can affect the total cost of the transaction.

Frequently asked questions

What is the current guideline value of Mathavapuram South Street?

The current guideline value of Mathavapuram South 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, showing an overall increase of 1443% over this period.

What is the land classification for Mathavapuram South Street?

Mathavapuram South Street is classified as Residential Class I Type - II, indicating its suitability for residential development.

Where can I find the registration office for Mathavapuram South Street?

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

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 50,00,000 would incur a stamp duty of Rs 3,50,000 and a registration fee of Rs 1,00,000.