Guideline Value for Mathiyazhagan Street 2nd Cross Street

Mathiyazhagan Street 2nd Cross Street guideline value

The current guideline value of Mathiyazhagan Street 2nd Cross Street is Rs 2,800 per sq.ft. This street is located in Ullagaram village, under the Alandur SRO, and is classified as Residential Class II Type - I.

How the guideline value of Mathiyazhagan Street 2nd Cross Street has changed

Over the years, the guideline value of Mathiyazhagan Street 2nd Cross Street has seen several revisions. The earliest recorded value is from 2012, which was Rs 2,500 per sq.ft. In 2017, this value decreased to Rs 1,675 per sq.ft, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 2,500 per sq.ft, a rise of 49%. The most recent revision in 2024 set the guideline value at Rs 2,800 per sq.ft, reflecting a 12% increase from the previous year.

It is important to note that there are no recorded figures for the years 2002, 2003, and 2007 for Mathiyazhagan Street 2nd Cross Street. Overall, from 2012 to 2024, the guideline value has increased by 12%.

Guideline values in Ullagaram

In Ullagaram, there are 298 streets under the Alandur SRO that have a 2024 guideline value ranging from Rs 1,700 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 2,800 per sq.ft, which is equal to the current guideline value of Mathiyazhagan Street 2nd Cross Street.

• Mathiyazhagan Street 1st Cross Street: Rs 2,800 per sq.ft (2024)
• Mathiyazhagan Street Main: Rs 2,800 per sq.ft (2024)
• Medavakkam Alandur High Road: Rs 5,500 per sq.ft (2024)
• Medavakkam Main Road: Rs 5,500 per sq.ft (2024)
• Mekmillan 1st Cross Street: Rs 3,900 per sq.ft (2024)
• Mekmillan 2nd Cross Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Mathiyazhagan Street 2nd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value amounts to Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, bringing the total to Rs 2,52,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Mathiyazhagan Street 2nd Cross Street?

The Sub Registrar Office that covers Mathiyazhagan Street 2nd Cross 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 Ullagaram

The guideline value plays a crucial role in property transactions in Ullagaram. It is used to determine the stamp duty and registration fees when a property is bought or sold. Buyers and sellers must consider the guideline value to ensure compliance with local regulations during the registration process.

When registering a property, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Mathiyazhagan Street 2nd Cross Street?

The current guideline value of Mathiyazhagan Street 2nd Cross Street is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2023 to Rs 2,800 per sq.ft in 2024, reflecting a 12% increase. It was Rs 1,675 per sq.ft in 2017 and Rs 2,500 per sq.ft in 2012.

What are the stamp duty and registration fees for a property on this street?

For a 1,000 sq.ft property, the total guideline value is Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, totaling Rs 2,52,000.

Which office handles registrations for Mathiyazhagan Street 2nd Cross Street?

The Alandur Sub Registrar Office handles registrations for Mathiyazhagan Street 2nd Cross Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What is the land classification for Mathiyazhagan Street 2nd Cross Street?

Mathiyazhagan Street 2nd Cross Street is classified as Residential Class II Type - I, which is typical for residential areas in the region.