Guideline Value for T.T. Mathew Street

T.T. Mathew Street guideline value

The current guideline value of T.T. Mathew Street is Rs 3,600 per sq.ft, effective from 1 July 2024. This street is located in 5. Athipattu village under the Konnur SRO and is classified as Residential Special Type - II.

How the guideline value of T.T. Mathew Street has changed

Over the years, the guideline value for T.T. Mathew Street has seen significant changes. The 2017 revision set the value at Rs 2,211 per sq.ft, which then rose to Rs 3,300 per sq.ft in the 2023 revision, marking an increase of 49%. The most recent revision in 2024 has further increased the value to Rs 3,600 per sq.ft, reflecting a 9% rise from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 63%. It is important to note that the register has no figures for T.T. Mathew Street for the years 2002, 2003, 2007, and 2012.

Guideline values in 5. Athipattu

In 5. Athipattu, there are 119 streets under the Konnur SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 7,650 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing T.T. Mathew Street's 2024 figure above that median.

• T.T.Mathew Avenue: Rs 3,601 per sq.ft (2024)
• T.T. Mathew 1st Cross Street: Rs 3,600 per sq.ft (2024)
• Udaiyarpalaiam: Rs 2,200 per sq.ft (2024)
• Ulaippalar Kalyanasundaram Street: Rs 2,200 per sq.ft (2024)
• Vaigai Street(ICF): Rs 2,400 per sq.ft (2024)
• Thulugathamman Kovil Street: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in T.T. Mathew Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,600 per sq.ft, the total guideline value would be Rs 36,00,000. The stamp duty at 7% would amount to Rs 2,52,000, and the registration fee at 2% would be Rs 72,000, bringing the total fees to Rs 3,24,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers T.T. Mathew Street?

The Sub Registrar Office that covers T.T. Mathew Street is the Konnur Sub Registrar Office, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more information.

How the guideline value is used when you buy or sell in 5. Athipattu

The guideline value is a crucial factor in the registration process when buying or selling property in 5. Athipattu. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When a property is sold, the sale price must be at least equal to the guideline value. If the sale price is lower than the guideline value, the stamp duty will be calculated based on the guideline value instead.

Frequently asked questions

What is the current guideline value of T.T. Mathew Street?

The current guideline value of T.T. Mathew Street is Rs 3,600 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 2,211 per sq.ft in 2017 to Rs 3,600 per sq.ft in 2024, representing an overall increase of 63% over this period.

What are the stamp duty and registration fees for properties on T.T. Mathew Street?

For a property valued at Rs 36,00,000, the stamp duty would be Rs 2,52,000 and the registration fee would be Rs 72,000, totaling Rs 3,24,000.

Which office handles the registration for T.T. Mathew Street?

The Konnur Sub Registrar Office handles the registration for T.T. Mathew Street, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the minimum value for property registration and affects the calculation of stamp duty and registration fees during property transactions.