Guideline Value for PASITH STREET (A) MATHA KOVIL STREET

Pasith Street (A) Matha Kovil Street guideline value

The current guideline value for Pasith Street (A) Matha Kovil Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Chengalpattu Natham village under the Chengleput Joint II SRO, and it falls under the Residential Class I Type - I land classification.

How the guideline value of Pasith Street (A) Matha Kovil Street has changed

In the 2012 revision, the guideline value was set at Rs 1,500 per sq.ft. This figure remained the same until the 2017 revision, which saw a decrease of 33%, bringing the value down to Rs 1,005 per sq.ft. The guideline value then increased significantly by 49% in the 2023 revision to Rs 1,500 per sq.ft. The most recent 2024 revision has further increased the value by 10%, resulting in the current rate of Rs 1,650 per sq.ft.

The register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Chengalpattu Natham

Chengalpattu Natham has 88 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 1,100 to Rs 5,500 per sq.ft. The median guideline value in this area is Rs 2,200 per sq.ft, placing the 2024 figure for Pasith Street (A) Matha Kovil Street below that median.

• Parthasarathy Street: Rs 1,100 per sq.ft (2024)
• Paziya Police Line: Rs 1,650 per sq.ft (2024)
• Periyanatham Police Line: Rs 2,200 per sq.ft (2024)
• Periya Rathinam Street: Rs 2,200 per sq.ft (2024)
• Periyar Street (Periyar Chetty Street): Rs 3,850 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Pasith Street (A) Matha Kovil Street

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. 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 for accurate calculations.

Which Sub Registrar Office covers Pasith Street (A) Matha Kovil Street?

The Sub Registrar Office that covers Pasith Street (A) Matha Kovil Street is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. To find your SRO, you can find your SRO.

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

The guideline value is a crucial factor in property transactions in Chengalpattu Natham. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the value of the property in the eyes of the law. This value is used to calculate the stamp duty, which is a percentage of the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value for Pasith Street (A) Matha Kovil Street?

The current guideline value for Pasith Street (A) Matha Kovil Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, starting from Rs 1,500 per sq.ft in 2012, dropping to Rs 1,005 in 2017, rising to Rs 1,500 in 2023, and finally reaching Rs 1,650 in 2024.

What is the land classification for Pasith Street (A) Matha Kovil Street?

Pasith Street (A) Matha Kovil Street is classified as Residential Class I Type - I.

Where can I find the Sub Registrar Office for this street?

The Chengleput Joint II Sub Registrar Office covers Pasith Street (A) Matha Kovil Street, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is stamp duty calculated for property in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property with a guideline value of Rs 16,50,000, the stamp duty would be Rs 1,15,500 at 7%.