Guideline Value for Mathavapuram West Street

Mathavapuram West Street guideline value

The current guideline value of Mathavapuram West 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 West Street has changed

The guideline value for Mathavapuram West Street has seen several revisions over the years. In 2002, the value was Rs 443 per sq.ft, which increased to Rs 481 per sq.ft in 2003, marking a 9% rise. The value then experienced a significant increase of 108% to reach Rs 1,000 per sq.ft in 2007. Following this, the guideline value rose dramatically to Rs 4,500 per sq.ft in 2012, reflecting a 350% increase. However, it then decreased by 33% to Rs 3,015 per sq.ft in 2017.

From 2017 to 2023, the value increased by 49% to Rs 4,500 per sq.ft. The most recent revision in 2024 has set the guideline value at Rs 5,000 per sq.ft, which is an 11% increase from the previous year. There are no figures available for the revisions prior to 2002 or any other years for this street.

Guideline values in Alandur

Alandur village has a range of guideline values for its streets, with the 2024 figures 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 West Street.

• Mathavapuram South Street: Rs 5,000 per sq.ft (2024)
• Mathavapuram North 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 West 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 charges to Rs 4,50,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mathavapuram West Street?

The Sub Registrar Office that covers Mathavapuram West 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 in the registration process when buying or selling property in Alandur. It serves as a reference point for determining the applicable stamp duty and registration fees, ensuring that these are calculated based on the established values set by the Registration Department.

When a property transaction occurs, the guideline value helps to establish a fair basis for the transaction. Buyers and sellers must be aware of these values to ensure compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of Mathavapuram West Street?

The current guideline value of Mathavapuram West 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 443 per sq.ft in 2002 to Rs 5,000 per sq.ft in 2024, reflecting an overall increase of 1029% over the years.

What is the registration fee for property in Mathavapuram West Street?

The registration fee is calculated at 2% of the guideline value. For a 1,000 sq.ft property, the registration fee would be Rs 1,00,000 based on the current guideline value.

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 are the other streets in Alandur with the same guideline value?

Other streets in Alandur with the same guideline value of Rs 5,000 per sq.ft include Mathavapuram South Street, Mathavapuram North Street, Mathavapuram East Street, and Mathavapuram Centre Street.