Guideline Value for MUTHIYALU CHETTY STREET

Muthiyalu Chetty Street guideline value

The current guideline value of Muthiyalu Chetty Street is Rs 6,500 per sq.ft, effective from 1 July 2024. This street is located in Purasaivakkam village and falls under the Purasaivakkam SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Muthiyalu Chetty Street has changed

The guideline value for Muthiyalu Chetty Street has undergone several revisions over the years. In the 2007 revision, the guideline value was Rs 1,800 per sq.ft. This increased significantly to Rs 6,000 per sq.ft in the 2012 revision, marking a rise of 233%. However, in the 2017 revision, the value decreased to Rs 4,020 per sq.ft, a decline of 33%. The 2023 revision saw the value rise again to Rs 6,000 per sq.ft, and the most recent 2024 revision has set the value at Rs 6,500 per sq.ft, reflecting an 8% increase from the previous year.

It is important to note that the register has no figures for Muthiyalu Chetty Street for the years 2002 and 2003. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 261%.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 18,100 per sq.ft, with a median value of Rs 5,500 per sq.ft. Muthiyalu Chetty Street's 2024 guideline value is above this median.

• Muthiyalu Naicken Street: Rs 6,500 per sq.ft (2024)
• Muthu Gramani Street: Rs 6,500 per sq.ft (2024)
• Muthu Mudali Street: Rs 6,500 per sq.ft (2024)
• Muthu Naicken Street: Rs 6,500 per sq.ft (2024)
• Murugesa Mudali Street: Rs 6,500 per sq.ft (2024)
• Naina Mohhamed Rowther Street: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Muthiyalu Chetty Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,500 per sq.ft, the total guideline value would be Rs 65,00,000. The stamp duty at 7% would amount to Rs 4,55,000, and the registration fee at 2% would be Rs 1,30,000, bringing the total to Rs 5,85,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Muthiyalu Chetty Street?

The Sub Registrar Office that covers Muthiyalu Chetty Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Purasaivakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

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 stamp duty and registration fees, ensuring compliance with legal requirements during the transaction.

Frequently asked questions

What is the current guideline value of Muthiyalu Chetty Street?

The current guideline value of Muthiyalu Chetty Street is Rs 6,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2007 to Rs 6,500 per sq.ft in 2024, showing an overall increase of 261% over the years.

What are the stamp duty rates for properties in this area?

The stamp duty for properties in Muthiyalu Chetty Street is charged at 7% of the guideline value or sale price, whichever is higher.

What is the registration fee for properties in Muthiyalu Chetty Street?

The registration fee for properties is charged at 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Muthiyalu Chetty Street?

The Sub Registrar Office for Muthiyalu Chetty Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.