Guideline Value for Matthamman Kovil Street

Matthamman Kovil Street guideline value

The current guideline value of Matthamman Kovil Street is Rs 700 per sq.ft, effective from 1 July 2024. This street is located in Molachoor village under the Sunguvarchattram SRO, classified as Residential Special Type - II.

How the guideline value of Matthamman Kovil Street has changed

In the 2012 revision, the guideline value was set at Rs 700 per sq.ft. This figure remained unchanged until the 2017 revision, where it dropped to Rs 469 per sq.ft, marking a decrease of 33%. The value then experienced a significant increase of 49% in the 2023 revision, returning to Rs 700 per sq.ft. The current 2024 revision maintains this value at Rs 700 per sq.ft, indicating no change from the previous year.

It is important to note that there are no figures available for Matthamman Kovil Street in the revisions for the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has seen no change.

Guideline values in Molachoor

In Molachoor village, there are 112 streets under the Sunguvarchattram SRO that carry a 2024 guideline value ranging from Rs 300 to Rs 2,000 per sq.ft. The median value for these streets is Rs 600 per sq.ft, placing Matthamman Kovil Street's 2024 figure above this median.

• Mariya Puram: Rs 600 per sq.ft (2024)
• Mariamman Kovil Street: Rs 300 per sq.ft (2024)
• Mettu Street: Rs 300 per sq.ft (2024)
• Mookambigai Nagar I & II: Rs 300 per sq.ft (2024)
• Lucky Land: Rs 605 per sq.ft (2024)
• Loordu Nagar: Rs 605 per sq.ft (2024)

Stamp duty and registration fee for property in Matthamman Kovil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 700 per sq.ft, the total guideline value amounts to Rs 7,00,000. The stamp duty, calculated at 7%, would be Rs 49,000, while the registration fee at 2% would be Rs 14,000. Together, these fees total Rs 63,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Matthamman Kovil Street?

The Sub Registrar Office that covers Matthamman Kovil Street is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor during property registration in Molachoor. It serves as a benchmark for determining the stamp duty and registration fees applicable to a property transaction. Buyers and sellers must be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

When engaging in property transactions, it is essential to understand that the guideline value can influence the overall cost of buying or selling a property. This value is updated periodically, reflecting changes in the local real estate market, and it is advisable to check the latest figures before proceeding with any transaction.

Frequently asked questions

What is the current guideline value of Matthamman Kovil Street?

The current guideline value of Matthamman Kovil Street is Rs 700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 700 per sq.ft since the 2023 revision, following a drop to Rs 469 per sq.ft in 2017. The value has seen no change from 2012 to 2024.

What are the other guideline values in Molachoor?

In Molachoor, the guideline values for other streets range from Rs 300 to Rs 2,000 per sq.ft. The median value is Rs 600 per sq.ft, with Matthamman Kovil Street's value above this median.

Where can I find the Sub Registrar Office for Matthamman Kovil Street?

The Sub Registrar Office for Matthamman Kovil Street is located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, the fees for a 1,000 sq.ft plot at the current guideline value total Rs 63,000.