Guideline Value for MUTHALAMMAN KOIL STREET

Muthalamman Koil Street guideline value

The current guideline value of Muthalamman Koil Street is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Uthandi village, under the Neelankarai SRO, and is classified as Residential Class II Type - II.

How the guideline value of Muthalamman Koil Street has changed

The guideline value for Muthalamman Koil Street has seen several revisions over the years. The earliest recorded figure is from 2003, at Rs 310 per sq.ft. This value increased significantly to Rs 700 per sq.ft in 2007, which was a rise of 126%. In 2012, the value was revised to Rs 1,500 per sq.ft, marking an increase of 114%. However, in 2017, it dropped to Rs 1,005 per sq.ft, a decrease of 33%. The 2023 revision saw the value rise to Rs 1,500 per sq.ft, and the most recent revision in 2024 set it at Rs 1,700 per sq.ft, reflecting a 13% increase.

Overall, from 2003 to 2024, the guideline value has increased by 448%. It is important to note that there is no recorded figure for Muthalamman Koil Street in the 2002 revision.

Guideline values in Uthandi

In Uthandi, there are 197 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,100 to Rs 14,700 per sq.ft. The median value is Rs 1,700 per sq.ft, which is the same as the current guideline value for Muthalamman Koil Street.

• Muthanmal Garden: Rs 1,100 per sq.ft (2024)
• Mottaisami Garden: Rs 1,100 per sq.ft (2024)
• Naiyeenar Kuppam: Rs 2,200 per sq.ft (2024)
• Natarajan Avenue: Rs 1,700 per sq.ft (2024)
• Natarajan Avenue/Garden: Rs 1,100 per sq.ft (2024)
• Natarajan Garden: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Muthalamman Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value would be Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, making the total cost for these fees Rs 1,53,000. 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 detailed calculations.

Which Sub Registrar Office covers Muthalamman Koil Street?

The Sub Registrar Office that covers Muthalamman Koil Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Uthandi. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration.

When a property is sold, the guideline value helps ensure that the transaction is recorded accurately, reflecting the official value set by the government. This value is essential for legal and taxation purposes during property transactions.

Frequently asked questions

What is the current guideline value of Muthalamman Koil Street?

The current guideline value of Muthalamman Koil Street is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 310 per sq.ft in 2003 to Rs 1,700 per sq.ft in 2024, reflecting an overall increase of 448% over this period.

What are the stamp duty rates for properties in Muthalamman Koil Street?

The stamp duty rate for properties in Muthalamman Koil Street is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Muthalamman Koil Street?

The Sub Registrar Office for Muthalamman Koil Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

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

The guideline value is used to determine the stamp duty and registration fees during property transactions. It ensures that the transaction is recorded accurately for legal and taxation purposes.