Guideline Value for MUTHIAH THOTTAM 1ST STREET

Muthiah Thottam 1st Street guideline value

The current guideline value of Muthiah Thottam 1st Street is Rs 3,300 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 V Type - III.

How the guideline value of Muthiah Thottam 1st Street has changed

In the 2012 revision, the guideline value for Muthiah Thottam 1st Street was Rs 3,000 per sq.ft. This figure remained unchanged in the 2023 revision. However, in the 2024 revision, the guideline value increased to Rs 3,300 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, 2007, and 2017 for this street.

Guideline values in Mylapore

Mylapore village has a total of 883 streets under the Mylapore SRO, with guideline values ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median guideline value for these streets is Rs 8,800 per sq.ft, placing Muthiah Thottam 1st Street's 2024 figure below this median.

• Muthiah Street: Rs 8,800 per sq.ft (2024)
• Muthiah Thottam 2nd Street: Rs 3,300 per sq.ft (2024)
• Muthiah Thotta Street: Rs 3,300 per sq.ft (2024)
• Muthiah Mudali Street: Rs 8,800 per sq.ft (2024)
• Muthu Kiramani Street: Rs 8,800 per sq.ft (2024)
• Muthu Krishna Mudali Street: Rs 8,800 per sq.ft (2024)

Stamp duty and registration fee for property in Muthiah Thottam 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Muthiah Thottam 1st Street?

The Muthiah Thottam 1st Street falls under 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 plays a crucial role in property transactions in Mylapore. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling a property, the guideline value is compared to the sale price. The higher of the two values is used to calculate the applicable duties and fees, ensuring compliance with the legal requirements for property registration.

Frequently asked questions

What is the current guideline value of Muthiah Thottam 1st Street?

The current guideline value of Muthiah Thottam 1st Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2012 revision, the guideline value has increased by 10%, from Rs 3,000 per sq.ft to Rs 3,300 per sq.ft in 2024. The 2023 revision maintained the value at Rs 3,000 per sq.ft.

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

The stamp duty for a property valued at Rs 33,00,000 would be Rs 2,31,000, while the registration fee would be Rs 66,000, totaling Rs 2,97,000. These fees are based on the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Muthiah Thottam 1st Street?

The Mylapore Sub Registrar Office covers Muthiah Thottam 1st Street, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.

What is the median guideline value for streets in Mylapore?

The median guideline value for streets in Mylapore is Rs 8,800 per sq.ft. Muthiah Thottam 1st Street's current guideline value is below this median.