Guideline Value for Mathur Salai

Mathur Salai guideline value

The current guideline value of Mathur Salai, located in Jampuli village under the Madhavaram SRO, is Rs 1,900 per sq.ft, effective from 1 July 2024. This area falls under Residential Class III Type - I land classification.

How the guideline value of Mathur Salai has changed

The guideline value for Mathur Salai has seen several revisions over the years. The 2012 revision set the value at Rs 1,800 per sq.ft, which then decreased to Rs 1,206 per sq.ft in the 2017 revision. Following this, the 2023 revision raised it to Rs 1,800 per sq.ft, and the latest 2024 revision has increased it further to Rs 1,900 per sq.ft, marking a 6% increase from the previous year.

From the 2017 revision to the 2023 revision, the value increased by 49%. Overall, comparing the 2012 revision to the 2024 revision, there is a 6% increase. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Jampuli

In Jampuli, 118 streets are listed under the Madhavaram SRO with a 2024 guideline value ranging from Rs 1,700 to Rs 3,300 per sq.ft. The median value for these streets is Rs 2,450 per sq.ft, making Mathur Salai's 2024 guideline value below that median.

• M.R.L. Colony 1st Street: Rs 2,200 per sq.ft (2024)
• M.R.L. Colony 2nd Street: Rs 2,200 per sq.ft (2024)
• M.R.L. Colony 3rd Street: Rs 2,200 per sq.ft (2024)
• Loganathan Avenue: Rs 2,700 per sq.ft (2024)
• Kuruvar Kudisai: Rs 1,900 per sq.ft (2024)
• New Colony (30 Feet Road): Rs 1,900 per sq.ft (2024)

Stamp duty and registration fee for property in Mathur Salai

For a 1,000 sq.ft plot at the current rate of Rs 1,900 per sq.ft, the guideline value amounts to Rs 19,00,000. The stamp duty at 7% would be Rs 1,33,000, and the registration fee at 2% would be Rs 38,000, bringing the total to Rs 1,71,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Mathur Salai?

The Sub Registrar Office that covers Mathur Salai is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. For further details, you can find your SRO.

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

The guideline value is a critical factor in property transactions in Jampuli. It determines the minimum value at which properties can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, it is essential to consider the guideline value as it impacts the overall costs associated with the transaction. Buyers should be aware that the guideline value may differ from the actual sale price, but the higher of the two will be used for calculating duties.

Frequently asked questions

What is the current guideline value of Mathur Salai?

The current guideline value of Mathur Salai is Rs 1,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2012 to Rs 1,206 per sq.ft in 2017, then to Rs 1,800 per sq.ft in 2023, and finally to Rs 1,900 per sq.ft in 2024.

What is the land classification for Mathur Salai?

Mathur Salai falls under Residential Class III Type - I land classification.

What are the stamp duty and registration fees for properties in Mathur Salai?

For a property valued at Rs 19,00,000, the stamp duty is Rs 1,33,000, and the registration fee is Rs 38,000, totaling Rs 1,71,000.

Which office handles property registrations for Mathur Salai?

The Madhavaram Sub Registrar Office handles property registrations for Mathur Salai, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.