Guideline Value for Mathuvar Street

Mathuvar Street guideline value

The current guideline value of Mathuvar Street in Chitlapakkam village is Rs 1,320 per sq.ft, effective from 1 July 2024. This street falls under the Tambaram Joint 1 SRO and is classified as Residential Class II Type - I.

How the guideline value of Mathuvar Street has changed

The guideline value for Mathuvar Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which was a decrease of 33% from the 2017 revision of Rs 804 per sq.ft. In 2023, the value increased to Rs 1,200 per sq.ft, and in 2024, it further rose to Rs 1,320 per sq.ft, marking a 10% increase from the previous year. The register has no figures for the years 2002, 2003, and 2007.

Overall, from the 2012 revision to the 2024 revision, the guideline value has seen a modest increase of 10%. The significant jump occurred between 2017 and 2023, where the value increased by 49% from Rs 804 per sq.ft to Rs 1,200 per sq.ft.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO, with 2024 guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, which means Mathuvar Street's 2024 figure is below that median.

• Mathavan Naidu Main Road: Rs 1,650 per sq.ft (2024)
• Mayur Avenue: Rs 2,750 per sq.ft (2024)
• Maruthuvar Street: Rs 2,750 per sq.ft (2024)
• Maruthupandiyar Street: Rs 2,750 per sq.ft (2024)
• Meenakshi Ist Street: Rs 4,400 per sq.ft (2024)
• Maruthi Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Mathuvar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total to Rs 1,18,800. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator to estimate costs for your property transaction.

Which Sub Registrar Office covers Mathuvar Street?

The Sub Registrar Office covering Mathuvar Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of property transactions in Chitlapakkam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when buying or selling property.

When a property is registered, the guideline value or the sale price, whichever is higher, is considered for calculating the applicable duties and fees. This ensures that the registration process is aligned with the official valuation of properties in the area.

Frequently asked questions

What is the current guideline value of Mathuvar Street?

The current guideline value of Mathuvar Street is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 1,320 per sq.ft in 2024, showing an overall increase of 10%. The most significant change occurred between 2017 and 2023, with a 49% increase.

What is the land classification for Mathuvar Street?

Mathuvar Street is classified as Residential Class II Type - I, which indicates its designation for residential use.

What are the stamp duty and registration fees for Mathuvar Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 13,20,000, leading to a stamp duty of Rs 92,400 and a registration fee of Rs 26,400, totaling Rs 1,18,800.

Where is the Sub Registrar Office for Mathuvar Street located?

The Sub Registrar Office for Mathuvar Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.