Guideline Value for Avoor Muthiah Street

Avoor Muthiah Street guideline value

The current guideline value of Avoor Muthiah Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village under the Royapuram SRO and is classified as Residential Class I Type - I.

How the guideline value of Avoor Muthiah Street has changed

The guideline value for Avoor Muthiah Street has seen several revisions over the years. In the 2007 revision, the value was set at Rs 800 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012. However, it then decreased to Rs 1,340 per sq.ft in 2017. The 2023 revision marked a rise to Rs 2,000 per sq.ft, followed by a further increase to the current value of Rs 2,200 per sq.ft in 2024.

Overall, from 2007 to 2024, the guideline value has increased by 175%. The changes between revisions include a 150% increase from 2007 to 2012, a decrease of 33% from 2012 to 2017, and a notable increase of 49% from 2017 to 2023, culminating in a 10% rise from 2023 to 2024. The register has no figures for the years 2002 and 2003 regarding this street.

Guideline values in Tondaiarpet

In Tondaiarpet village, there are a total of 1384 streets under the Royapuram SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median value is Rs 1,600 per sq.ft, placing Avoor Muthiah Street's current value above that median.

• Azhagammal Lane: Rs 1,300 per sq.ft (2024)
• Azhagiri Street: Rs 1,300 per sq.ft (2024)
• Ashok Nagar Main Street: Rs 1,300 per sq.ft (2024)
• Ashok Nagar Cross street: Rs 1,300 per sq.ft (2024)
• Ashok Nagar 4th Street: Rs 1,300 per sq.ft (2024)
• Ashok Nagar 3rd Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Avoor Muthiah Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can calculate your fees using our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Avoor Muthiah Street?

Avoor Muthiah Street falls under the jurisdiction of the Royapuram Sub Registrar Office located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Tondaiarpet. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. These fees are based on the guideline value or the sale price, whichever is higher, ensuring that the transaction is recorded accurately in the official registry.

Frequently asked questions

What is the current guideline value of Avoor Muthiah Street?

The current guideline value of Avoor Muthiah Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 175% over the years.

What is the median guideline value in Tondaiarpet?

The median guideline value for streets in Tondaiarpet is Rs 1,600 per sq.ft, with Avoor Muthiah Street's current value being above this median.

What are the stamp duty rates applicable in Avoor Muthiah Street?

The stamp duty rate is 7% on the guideline value, and the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Avoor Muthiah Street located?

The Sub Registrar Office covering Avoor Muthiah Street is located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.