Guideline Value for MUTHIAH THOTTAM 2ND STREET

Muthiah Thottam 2nd Street guideline value

The current guideline value of Muthiah Thottam 2nd Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village and falls under the Mylapore SRO. The land classification for this area is Residential Class V Type - III.

How the guideline value of Muthiah Thottam 2nd Street has changed

The guideline value for Muthiah Thottam 2nd Street has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 612 per sq.ft, which increased to Rs 680 per sq.ft in 2003, marking an 11% increase. The value then surged significantly to Rs 3,000 per sq.ft in 2012, reflecting a 341% rise from the previous revision. The value remained unchanged at Rs 3,000 per sq.ft until the 2023 revision.

In 2023, the guideline value was revised to Rs 3,000 per sq.ft, and it saw a 10% increase in 2024, bringing it to Rs 3,300 per sq.ft. It is important to note that there are no figures available for the revisions in 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 in this area is Rs 8,800 per sq.ft, indicating that Muthiah Thottam 2nd Street's 2024 figure is below this median.

• Muthiah Thottam 1st Street: Rs 3,300 per sq.ft (2024)
• Muthiah Thotta Street: Rs 3,300 per sq.ft (2024)
• Muthiah Street: Rs 8,800 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 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, making the total charges Rs 2,97,000. It is important to note that the stamp 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 accurate calculations based on your specific property details.

Which Sub Registrar Office covers Muthiah Thottam 2nd Street?

The Muthiah Thottam 2nd Street is covered by the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018. For more information, you can find your SRO.

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

The guideline value is an essential factor when registering a property in Mylapore. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction process. Buyers should be aware that the guideline value can influence the overall cost of purchasing property in the area.

When selling a property, the guideline value can also impact the sale price, as it provides a reference point for both buyers and sellers. It is crucial for both parties to understand the current guideline value to ensure a smooth transaction.

Frequently asked questions

What is the current guideline value of Muthiah Thottam 2nd Street?

The current guideline value of Muthiah Thottam 2nd Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 612 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 439% over the years.

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

The stamp duty is charged at 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Which Sub Registrar Office handles registrations for Muthiah Thottam 2nd Street?

The Mylapore Sub Registrar Office is responsible for registrations in Muthiah Thottam 2nd Street, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018.

What is the median guideline value in Mylapore?

The median guideline value in Mylapore is Rs 8,800 per sq.ft, indicating that Muthiah Thottam 2nd Street's 2024 figure is below this median.