Guideline Value for Chellamuthu street

Chellamuthu street guideline value

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

How the guideline value of Chellamuthu street has changed

In the 2007 revision, the guideline value was set at Rs 1,500 per sq.ft. This figure saw a significant increase in the 2012 revision, where it rose to Rs 4,500 per sq.ft, marking a 200% change. However, in the 2017 revision, the value dropped to Rs 3,015 per sq.ft, reflecting a decrease of 33%. The value then increased to Rs 4,500 per sq.ft in the 2023 revision, a rise of 49%. The latest revision in 2024 has set the value at Rs 4,900 per sq.ft, which is a 9% increase from the previous year.

The register has no figures for the years 2002 and 2003 for Chellamuthu street. Overall, from 2007 to 2024, the guideline value has increased by 227%.

Guideline values in Muthialpet

In Muthialpet village, there are 160 streets under the Chennai North Joint I SRO that carry a 2024 guideline value ranging from Rs 3,800 to Rs 18,000 per sq.ft, with a median value of Rs 5,500 per sq.ft. Chellamuthu street's 2024 figure is below this median.

• Chellamuthu lane: 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 street

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, bringing the total to Rs 4,41,000. 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 more details.

Which Sub Registrar Office covers Chellamuthu street?

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

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

The guideline value is a crucial factor when buying or selling property in Muthialpet. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction process.

When registering a property, the guideline value is used to calculate the applicable duties and fees, ensuring that both parties are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Chellamuthu street?

The current guideline value of Chellamuthu street 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 significantly 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 this period.

What is the land classification for Chellamuthu street?

Chellamuthu street is classified as Residential Class I Type - III under the Chennai North Joint I SRO.

What are the stamp duty and registration fees for property in Chellamuthu street?

For a 1,000 sq.ft plot, the total guideline value is Rs 49,00,000. The stamp duty would be Rs 3,43,000, and the registration fee would be Rs 98,000, totaling Rs 4,41,000.

Where is the Sub Registrar Office located for Chellamuthu street?

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