Guideline Value for MUSTHURA BEGUM 2ND STREET

Musthura Begum 2nd Street guideline value

The current guideline value of Musthura Begum 2nd Street is Rs 8,800 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village, under the Mylapore SRO, and is classified as Residential Class III Type - III.

How the guideline value of Musthura Begum 2nd Street has changed

The guideline value for Musthura Begum 2nd Street has seen significant changes over the years. The earliest recorded revision was in 2002, with a value of Rs 900 per sq.ft. This increased to Rs 1,000 per sq.ft in 2003, marking an increase of 11%. The value then rose to Rs 1,540 per sq.ft in 2007, which was a substantial increase of 54%. Following this, the 2012 revision set the value at Rs 8,000 per sq.ft, reflecting a remarkable increase of 419% from the previous revision.

In 2017, the guideline value was revised to Rs 5,360 per sq.ft, which represented a decrease of 33%. The value then increased to Rs 8,000 per sq.ft in 2023, before reaching the current figure of Rs 8,800 per sq.ft in 2024, an increase of 10% from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 878%. There are no figures for the years not listed in the register for this street.

Guideline values in Mylapore

In Mylapore, there are 883 streets under the Mylapore SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median guideline value is Rs 8,800 per sq.ft, which is equal to the current figure for Musthura Begum 2nd Street.

• Musthura Begum Street (Pettai): Rs 8,800 per sq.ft (2024)
• Musuri Subramaniyam Road (Oliver Road): Rs 16,500 per sq.ft (2024)
• Murugappa Mudali Street: Rs 4,900 per sq.ft (2024)
• Munusamy Street: Rs 3,300 per sq.ft (2024)
• Munusamy Nagar: Rs 3,300 per sq.ft (2024)
• Mundakkanni Amman Koil Street: Rs 12,100 per sq.ft (2024)

Stamp duty and registration fee for property in Musthura Begum 2nd Street

For a 1,000 sq.ft plot at the current guideline value, the total guideline value would be Rs 88,00,000. The stamp duty at 7% would amount to Rs 6,16,000, while the registration fee at 2% would be Rs 1,76,000. Together, these fees would total Rs 7,92,000. 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 details.

Which Sub Registrar Office covers Musthura Begum 2nd Street?

The Sub Registrar Office that covers Musthura Begum 2nd Street is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018. You can find your SRO for more information.

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

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

When a property is sold, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions in the region.

Frequently asked questions

What is the current guideline value of Musthura Begum 2nd Street?

The current guideline value of Musthura Begum 2nd Street is Rs 8,800 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 900 per sq.ft in 2002 to Rs 8,800 per sq.ft in 2024, marking an overall increase of 878% over the years.

What are the stamp duty and registration fees for property in Musthura Begum 2nd Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 88,00,000. The stamp duty at 7% would be Rs 6,16,000, and the registration fee at 2% would be Rs 1,76,000, totaling Rs 7,92,000.

Which Sub Registrar Office covers Musthura Begum 2nd Street?

The Mylapore Sub Registrar Office covers Musthura Begum 2nd Street, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018.

What is the land classification for Musthura Begum 2nd Street?

Musthura Begum 2nd Street is classified as Residential Class III Type - III, indicating its designation for residential use within the Mylapore area.