Guideline Value for Mattukara Veerapadran Street

Mattukara Veerapadran Street guideline value

The current guideline value of Mattukara Veerapadran Street is Rs 6,000 per sq.ft, effective from 1 July 2024. This street is located in Vepery village under the Periamet SRO and is classified as Residential Class II Type - I.

How the guideline value of Mattukara Veerapadran Street has changed

The guideline value for Mattukara Veerapadran Street has seen several revisions over the years. The 2012 revision set the value at Rs 5,500 per sq.ft, which then decreased to Rs 3,685 per sq.ft in 2017. Following this, the 2023 revision raised the guideline value to Rs 5,500 per sq.ft, and the most recent 2024 revision increased it further to Rs 6,000 per sq.ft. The register has no figure for the years 2002, 2003, and 2007.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, it increased significantly by 49%. The change from 2023 to 2024 reflects a 9% increase, leading to an overall increase of 9% from 2012 to 2024.

Guideline values in Vepery

In Vepery village, there are 290 streets under the Periamet SRO that have a 2024 guideline value ranging from Rs 2,200 to Rs 22,000 per sq.ft. The median guideline value is Rs 4,800 per sq.ft, which means that Mattukara Veerapadran Street's 2024 value is above this median.

• Mekpor Lane: Rs 4,400 per sq.ft (2024)
• mahdum Sherif Street: Rs 4,800 per sq.ft (2024)
• Mahavir Colony: Rs 13,000 per sq.ft (2024)
• Mosque Street: Rs 3,300 per sq.ft (2024)
• Mothilal Nehru Street: Rs 2,700 per sq.ft (2024)
• Mothilal Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Mattukara Veerapadran Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,000 per sq.ft, the total guideline value would be Rs 60,00,000. The stamp duty at 7% would amount to Rs 4,20,000, and the registration fee at 2% would be Rs 1,20,000, making the total Rs 5,40,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Mattukara Veerapadran Street?

The Sub Registrar Office that covers Mattukara Veerapadran Street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more information.

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

The guideline value is a critical factor during the registration of property transactions in Vepery. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction, ensuring that the government receives appropriate revenue based on the property's assessed value.

When buying or selling property, the guideline value helps to establish the minimum price at which the property can be registered. This ensures transparency and fairness in property transactions, as all parties are aware of the official valuation set by the Registration Department.

Frequently asked questions

What is the current guideline value of Mattukara Veerapadran Street?

The current guideline value of Mattukara Veerapadran Street is Rs 6,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 5,500 per sq.ft in 2012 to Rs 3,685 per sq.ft in 2017, then back to Rs 5,500 per sq.ft in 2023, and finally to Rs 6,000 per sq.ft in 2024.

What is the land classification for Mattukara Veerapadran Street?

Mattukara Veerapadran Street is classified as Residential Class II Type - I.

What are the stamp duty and registration fees for properties in this street?

For a property valued at Rs 60,00,000, the stamp duty would be Rs 4,20,000 and the registration fee would be Rs 1,20,000, totaling Rs 5,40,000.

Which office handles registrations for Mattukara Veerapadran Street?

The Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003, handles registrations for Mattukara Veerapadran Street.