Guideline Value for Mathiazhagan Street

Mathiazhagan Street guideline value

The current guideline value of Mathiazhagan Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Saligramam village, under the Virugambakkam SRO, and is classified as Residential Class III Type - I.

How the guideline value of Mathiazhagan Street has changed

Over the years, the guideline value of Mathiazhagan Street has seen several revisions. The earliest recorded value was Rs 850 per sq.ft in 2007. This figure increased significantly to Rs 3,000 per sq.ft in 2012, marking a growth of 253%. However, it then decreased to Rs 2,010 per sq.ft in 2017, a decline of 33%. The value rose again to Rs 3,000 per sq.ft in 2023 and further increased to the current value of Rs 3,300 per sq.ft in 2024, reflecting a 10% increase.

It is important to note that there are no recorded figures for Mathiazhagan Street in the revisions of 2002 and 2003. The overall change from 2007 to 2024 shows an increase of 288% in the guideline value.

Guideline values in Saligramam

In Saligramam, there are 333 streets under the Virugambakkam SRO that have a 2024 guideline value ranging from Rs 2,750 to Rs 13,200 per sq.ft, with a median value of Rs 4,400 per sq.ft. Mathiazhagan Street's current guideline value is below this median.

• Mathiazhagan Nagar - V.P.Akilan Street: Rs 3,300 per sq.ft (2024)
• Mathiazhagan Nagar - V.O.C Street: Rs 3,300 per sq.ft (2024)
• Mathiazhagan Nagar - Thiruvalluvar Street: Rs 3,300 per sq.ft (2024)
• Mathiazhagan Nagar - Sriramulu Street: Rs 3,300 per sq.ft (2024)
• Mathiazhagan Nagar - Singaravelan Street: Rs 3,300 per sq.ft (2024)
• Mathiazhagan Nagar - Shanmugam Salai: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Mathiazhagan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total fees to Rs 2,97,000. 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 our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mathiazhagan Street?

The Sub Registrar Office that covers Mathiazhagan Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more details.

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

The guideline value is a crucial factor during property transactions in Saligramam. It is used to determine the stamp duty and registration fees applicable when buying or selling a property. Buyers and sellers must be aware of the guideline value to ensure compliance with local regulations during registration.

When a property is registered, the guideline value serves as a benchmark for calculating taxes. It is essential to verify the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Mathiazhagan Street?

The current guideline value of Mathiazhagan Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 850 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, showing an overall increase of 288% over this period.

What is the land classification for Mathiazhagan Street?

Mathiazhagan Street is classified as Residential Class III Type - I, indicating its suitability for residential purposes.

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

The Sub Registrar Office for Mathiazhagan Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is stamp duty calculated for properties on Mathiazhagan Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 2,31,000.