Guideline Value for Mathiyas Nagar

Mathiyas Nagar guideline value

The current guideline value of Mathiyas Nagar, located in Parangimalai village under the Chennai South Joint II SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class II Type - II.

How the guideline value of Mathiyas Nagar has changed

The guideline value for Mathiyas Nagar has seen several revisions over the years. In 2002, the value was Rs 496 per sq.ft, which increased to Rs 620 per sq.ft in 2003, marking a rise of 25%. The value continued to rise, reaching Rs 800 per sq.ft in 2007, a 29% increase from the previous revision. By 2012, the value had jumped to Rs 3,000 per sq.ft, reflecting a significant increase of 275%. However, it dropped to Rs 2,010 per sq.ft in 2017, a decrease of 33%. The value then rose again to Rs 3,000 per sq.ft in 2023, followed by the current value of Rs 3,300 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 565%. There are no figures available for the revisions in years other than those specified.

Guideline values in Parangimalai

In Parangimalai, there are 233 streets under the Chennai South Joint II SRO with a 2024 guideline value ranging from Rs 2,750 to Rs 11,000 per sq.ft. The median value for these streets is Rs 3,850 per sq.ft, placing Mathiyas Nagar's 2024 figure below that median.

• Market Street: Rs 5,500 per sq.ft (2024)
• Market Lane: Rs 3,850 per sq.ft (2024)
• Mariyapuram: Rs 3,300 per sq.ft (2024)
• Margo Street: Rs 3,300 per sq.ft (2024)
• Margo Lane: Rs 3,300 per sq.ft (2024)
• Mettu Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Mathiyas Nagar

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 to Rs 2,97,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Mathiyas Nagar?

The Sub Registrar Office that covers Mathiyas Nagar is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Parangimalai. It is used to determine the stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher.

This ensures that the property is registered at a value that reflects the current market conditions as per the guidelines set by the Registration Department. Buyers and sellers should be aware of these values to understand their financial obligations during the transaction.

Frequently asked questions

What is the current guideline value of Mathiyas Nagar?

The current guideline value of Mathiyas Nagar 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 496 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, showing a significant increase over the years.

What is the land classification for Mathiyas Nagar?

The land classification for Mathiyas Nagar is Residential Class II Type - II.

What are the stamp duty and registration fees for Mathiyas Nagar?

For a 1,000 sq.ft plot, the total guideline value is Rs 33,00,000, with stamp duty at Rs 2,31,000 and registration fee at Rs 66,000, totaling Rs 2,97,000.

Where is the Sub Registrar Office for Mathiyas Nagar located?

The Sub Registrar Office for Mathiyas Nagar is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.