Guideline Value for Mathiyazhagan Street Lane II

Mathiyazhagan Street Lane II guideline value

The current guideline value of Mathiyazhagan Street Lane II is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Velachery village, under the Velacheri SRO, and is classified as Residential Class II Type - III.

How the guideline value of Mathiyazhagan Street Lane II has changed

The guideline value for Mathiyazhagan Street Lane II has undergone several revisions over the years. In the 2007 revision, the value was Rs 1,500 per sq.ft, which increased significantly to Rs 3,500 per sq.ft in the 2012 revision, marking a rise of 133%. However, in the 2017 revision, the value decreased to Rs 2,345 per sq.ft, reflecting a decline of 33%. The 2023 revision saw a substantial increase to Rs 3,500 per sq.ft, and the most recent 2024 revision has set the guideline value at Rs 3,850 per sq.ft, representing a 10% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for Mathiyazhagan Street Lane II. Overall, from 2007 to 2024, the guideline value has increased by 157%.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that have a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft, with a median value of Rs 4,400 per sq.ft. Mathiyazhagan Street Lane II's 2024 guideline value is below this median.

• Mathiyazhagan Street Lane I: Rs 3,850 per sq.ft (2024)
• Mathiyazhagan Street Lane III: Rs 3,850 per sq.ft (2024)
• Mathiyazhagan Street Lane IV: Rs 3,850 per sq.ft (2024)
• Mathiyazhagan Street Lane V: Rs 3,850 per sq.ft (2024)
• Mathiyazhagan Street Lane VI: Rs 3,850 per sq.ft (2024)
• Mathiyazhagan Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Mathiyazhagan Street Lane II

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total fees to Rs 3,46,500. 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 the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mathiyazhagan Street Lane II?

The Sub Registrar Office that covers Mathiyazhagan Street Lane II is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Velachery. It is used to determine the stamp duty and registration fees that need to be paid, ensuring that the transaction is recorded accurately in the official registry.

Frequently asked questions

What is the current guideline value of Mathiyazhagan Street Lane II?

The current guideline value of Mathiyazhagan Street Lane II is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2007 to Rs 3,850 per sq.ft in 2024, reflecting an overall increase of 157% over the years.

What are the stamp duty and registration fees for a property in this area?

For a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500, and the registration fee would be Rs 77,000, totaling Rs 3,46,500.

Which Sub Registrar Office handles registrations for Mathiyazhagan Street Lane II?

The Velacheri Sub Registrar Office handles registrations for Mathiyazhagan Street Lane II, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the land classification for Mathiyazhagan Street Lane II?

Mathiyazhagan Street Lane II is classified as Residential Class II Type - III, indicating its zoning for residential purposes.