Guideline Value for Mathew Street

Mathew Street guideline value

The current guideline value of Mathew Street in Kathirvedu village is Rs 1,100 per sq.ft, effective from 1 July 2024. This street falls under the Ambattur SRO and is classified as Residential Class IV Type - I.

How the guideline value of Mathew Street has changed

The guideline value for Mathew Street has seen several revisions over the years. In 2003, the value was set at Rs 90 per sq.ft, which increased to Rs 300 per sq.ft in 2007. Following that, the value rose significantly to Rs 1,000 per sq.ft in 2012, before dropping to Rs 670 per sq.ft in 2017. The most recent revisions show an increase to Rs 1,000 per sq.ft in 2023 and further to Rs 1,100 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2017 to 2023, the value increased by 49%. The jump from 2007 to 2012 was remarkable at 233%, and the same percentage increase occurred from 2003 to 2007. Overall, from 2003 to 2024, the guideline value has increased by 1122%. The register has no figure for Mathew Street for the year 2002.

Guideline values in Kathirvedu

Kathirvedu village has 78 streets under the Ambattur SRO, with guideline values ranging from Rs 1,100 to Rs 6,000 per sq.ft as of 2024. The median guideline value in the village is Rs 1,500 per sq.ft, placing Mathew Street's 2024 value below that median.

• Mahalakshmi Nagar: Rs 1,500 per sq.ft (2024)
• Moorthy Nagar: Rs 1,900 per sq.ft (2024)
• Mugambekai Nagar: Rs 1,800 per sq.ft (2024)
• Lakshmi Kandammal Nagar: Rs 2,000 per sq.ft (2024)
• K.V.R.Nagar: Rs 2,000 per sq.ft (2024)
• Kiruba Nagar: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Mathew Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, leading to a total cost of Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mathew Street?

The Sub Registrar Office that covers Mathew Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is an essential factor in property transactions in Kathirvedu, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the correct revenue from property transactions based on the established guideline values.

Frequently asked questions

What is the current guideline value of Mathew Street?

The current guideline value of Mathew Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 90 per sq.ft in 2003 to Rs 1,100 per sq.ft in 2024, reflecting an overall increase of 1122% over this period.

What is the land classification of Mathew Street?

Mathew Street is classified as Residential Class IV Type - I, indicating its designation for residential use.

Where can I find the Sub Registrar Office for Mathew Street?

The Sub Registrar Office for Mathew Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is stamp duty calculated for properties in Mathew Street?

Stamp duty is calculated based on the higher value between the guideline value and the sale price. For example, a property valued at Rs 11,00,000 would incur a stamp duty of Rs 77,000 at 7%.