Guideline Value for OLD MACHINE STREET

Old Machine Street guideline value

The current guideline value of Old Machine Street in Mathuranthagam village is Rs 1,110 per sq.ft, effective from 1 July 2024. This street falls under the Madurandakam SRO and is classified as Residential Special Type - I.

How the guideline value of Old Machine Street has changed

The guideline value for Old Machine Street has seen several revisions over the years. In the 2007 revision, the value was Rs 250 per sq.ft, which increased significantly to Rs 1,000 per sq.ft in 2012. However, in the 2017 revision, the value decreased to Rs 670 per sq.ft. The following revision in 2023 brought the value back up to Rs 1,000 per sq.ft, and the latest revision in 2024 has set the value at Rs 1,110 per sq.ft.

Between the revisions, there have been notable changes. The increase from 2023 to 2024 was 11%. From 2017 to 2023, there was a significant increase of 49%. The 2012 to 2017 period saw a decrease of 33%, while the jump from 2007 to 2012 was remarkable at 300%. Overall, from 2007 to 2024, the guideline value has increased by 344%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Mathuranthagam

In Mathuranthagam, there are 109 streets under the Madurandakam SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 1,480 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, placing Old Machine Street's 2024 figure above that median.

• Old Police Otha Vaadai Street: Rs 1,100 per sq.ft (2024)
• Nmk Plots: Rs 560 per sq.ft (2024)
• New Police Line: Rs 1,110 per sq.ft (2024)
• Pallipattu Narasimhachari Street: Rs 1,110 per sq.ft (2024)
• Nallan Pillai Nagar: Rs 775 per sq.ft (2024)
• Parthasarathi Naidu Street: Rs 1,110 per sq.ft (2024)

Stamp duty and registration fee for property in Old Machine Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,110 per sq.ft, the total guideline value amounts to Rs 11,10,000. The stamp duty at 7% would be Rs 77,700, and the registration fee at 2% would be Rs 22,200, bringing the total to Rs 99,900. 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 Old Machine Street?

The Sub Registrar Office that covers Old Machine Street is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Mathuranthagam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the higher of the guideline value or the sale price is used to calculate these fees. This ensures that both buyers and sellers are aware of the financial obligations involved in the property transaction.

Frequently asked questions

What is the current guideline value of Old Machine Street?

The current guideline value of Old Machine Street is Rs 1,110 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2007 to Rs 1,110 per sq.ft in 2024, showing a significant increase over the years.

What is the land classification of Old Machine Street?

Old Machine Street is classified as Residential Special Type - I under the Madurandakam SRO.

Where can I find the registration office for Old Machine Street?

The registration office for Old Machine Street is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

What are the other streets in Mathuranthagam with similar guideline values?

Other streets in Mathuranthagam include Old Police Otha Vaadai Street, New Police Line, and Pallipattu Narasimhachari Street, all of which have a guideline value of Rs 1,110 per sq.ft in 2024.