Guideline Value for Chellamuthu lane

Chellamuthu lane guideline value

The current guideline value of Chellamuthu lane in Muthialpet village is Rs 4,900 per sq.ft, effective from 1 July 2024. This street falls under the Chennai North Joint I SRO and is classified as Residential Class I Type - III.

How the guideline value of Chellamuthu lane has changed

The guideline value for Chellamuthu lane has undergone several revisions over the years. In 2007, the guideline value was Rs 1,500 per sq.ft, which increased significantly to Rs 4,500 per sq.ft in 2012, marking a 200% rise. However, it saw a decrease to Rs 3,015 per sq.ft in 2017, a decline of 33%. The value then rose to Rs 4,500 per sq.ft in 2023, and currently stands at Rs 4,900 per sq.ft as of the 2024 revision, reflecting a 9% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 227%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Muthialpet

In Muthialpet, there are 160 streets under the Chennai North Joint I SRO, with 2024 guideline values ranging from Rs 3,800 to Rs 18,000 per sq.ft. The median guideline value in this area is Rs 5,500 per sq.ft, placing Chellamuthu lane's current value below that median.

• Chellamuthu street: Rs 4,900 per sq.ft (2024)
• Budhu street: Rs 5,500 per sq.ft (2024)
• Bookers lane+: Rs 4,900 per sq.ft (2024)
• Coral Merchant street: Rs 7,100 per sq.ft (2024)
• Devaraja street: Rs 5,500 per sq.ft (2024)
• Devaraj lane: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Chellamuthu lane

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value amounts to Rs 49,00,000. The stamp duty at 7% would be Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, totaling Rs 4,41,000. 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 further calculations.

Which Sub Registrar Office covers Chellamuthu lane?

The Sub Registrar Office that covers Chellamuthu lane is the Chennai North Joint I Sub Registrar Office, located at Nsc Bose Road, Kuralagam First Floor, Esplaned Street, Chennai-105. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Muthialpet. It is used to determine the stamp duty and registration fees applicable when buying or selling property in the area. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations.

When registering a property, the guideline value is referenced to calculate the necessary fees. This ensures that both parties in a transaction are aware of the financial obligations involved in the transfer of property ownership.

Frequently asked questions

What is the current guideline value of Chellamuthu lane?

The current guideline value of Chellamuthu lane is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2007 to Rs 4,900 per sq.ft in 2024, reflecting an overall increase of 227% over the years.

What are the stamp duty and registration fees for properties in this area?

For a 1,000 sq.ft plot, the stamp duty would be Rs 3,43,000 and the registration fee would be Rs 98,000, totaling Rs 4,41,000 based on the current guideline value.

Which office handles registrations for Chellamuthu lane?

The Chennai North Joint I Sub Registrar Office handles registrations for Chellamuthu lane, located at Nsc Bose Road, Kuralagam First Floor, Esplaned Street, Chennai-105.

What is the median guideline value in Muthialpet?

The median guideline value in Muthialpet is Rs 5,500 per sq.ft, with Chellamuthu lane's current value being below this median.