Guideline Value for MUTHIYALU NAICKEN STREET

Muthiyalu Naicken Street guideline value

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

How the guideline value of Muthiyalu Naicken Street has changed

The guideline value for Muthiyalu Naicken Street has seen several revisions over the years. In 2007, the value was Rs 1,800 per sq.ft, which increased significantly to Rs 6,000 per sq.ft in 2012. However, this value decreased to Rs 4,020 per sq.ft in 2017. The subsequent revision in 2023 brought the value up to Rs 6,000 per sq.ft, and the latest revision in 2024 set the value at Rs 6,500 per sq.ft. The register has no figures for the years 2002 and 2003.

From 2007 to 2012, there was a remarkable increase of 233%. However, the value then decreased by 33% from 2012 to 2017. The value saw a substantial rise of 49% from 2017 to 2023, and an 8% increase from 2023 to 2024. Overall, from 2007 to 2024, 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. The median guideline value in the area is Rs 5,500 per sq.ft, placing Muthiyalu Naicken Street's 2024 figure above the median.

• Muthiyalu Chetty 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 Naicken Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,500 per sq.ft, the total guideline value amounts to Rs 65,00,000. The stamp duty at 7% would be 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 duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Muthiyalu Naicken Street?

The Sub Registrar Office covering Muthiyalu Naicken 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 in the registration process when buying or selling property in Purasaivakkam. 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 of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Muthiyalu Naicken Street?

The current guideline value of Muthiyalu Naicken 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, reflecting an overall increase of 261% over this period.

What is the land classification for Muthiyalu Naicken Street?

The land classification for Muthiyalu Naicken Street is Residential Class II Type - II.

Where can I find more information about stamp duty and registration fees?

You can find more information about stamp duty and registration fees using the stamp duty and registration fee calculator.

Which office handles registrations for properties in Purasaivakkam?

The Purasaivakkam Sub Registrar Office handles registrations for properties in Purasaivakkam, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.