Guideline Value for Soorakuttai street

Soorakuttai street guideline value

The current guideline value of Soorakuttai 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 Soorakuttai street has changed

Over the years, the guideline value of Soorakuttai street has seen significant changes. The 2007 revision set the value at Rs 500 per sq.ft, which increased to Rs 1,000 per sq.ft in 2012, marking a 100% rise. However, in 2017, the value dropped to Rs 670 per sq.ft, reflecting a decrease of 33%. The value then rose to Rs 1,000 per sq.ft in 2023, and the most recent revision in 2024 has increased it further to Rs 1,110 per sq.ft, an increase of 11% from the previous year.

The guideline value register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 122%.

Guideline values in Mathuranthagam

In Mathuranthagam, there are 109 streets under the Madurandakam SRO that have 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 Soorakuttai street's 2024 figure at the upper end of this range.

• Sri Eri Ram Sai Nagar: Rs 555 per sq.ft (2024)
• Sri Kamalavalli Nagar: Rs 550 per sq.ft (2024)
• Sri Kamalavalli Nagar Phase-II: Rs 555 per sq.ft (2024)
• SELVAVINAYAGAR KOIL STREET (a) VANNIA PILLAYAR KOIL STREET: Rs 1,110 per sq.ft (2024)
• SELLI AMMAN KOIL STREET (a) SELLI AMMAN CAR STREET: Rs 1,110 per sq.ft (2024)
• Sri Meenakshi Garden: Rs 1,110 per sq.ft (2024)

Stamp duty and registration fee for property in Soorakuttai street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,110 per sq.ft, the total guideline value would be Rs 11,10,000. The stamp duty at 7% would amount to Rs 77,700, and the registration fee at 2% would be Rs 22,200, bringing the total fees to Rs 99,900. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more information on fees.

Which Sub Registrar Office covers Soorakuttai street?

The Sub Registrar Office that covers Soorakuttai 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 details.

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

The guideline value is a critical factor in the registration process when buying or selling property in Mathuranthagam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the property is not undervalued during transactions.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Soorakuttai street?

The current guideline value of Soorakuttai 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 500 per sq.ft in 2007 to Rs 1,110 per sq.ft in 2024, an overall increase of 122%.

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

Other streets in Mathuranthagam include Sri Eri Ram Sai Nagar at Rs 555 per sq.ft, Sri Kamalavalli Nagar at Rs 550 per sq.ft, and several others at Rs 1,110 per sq.ft.

What are the fees for registering property in Soorakuttai street?

For a property valued at Rs 11,10,000, the stamp duty would be Rs 77,700 and the registration fee would be Rs 22,200, totaling Rs 99,900.

Where is the Sub Registrar Office for Soorakuttai street?

The Sub Registrar Office for Soorakuttai street is located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.