Guideline Value for MUTHU IRULANDI COLONY 2ND STREET

Muthu Irulandi Colony 2nd Street guideline value

The current guideline value of Muthu Irulandi Colony 2nd Street is Rs 3,800 per sq.ft, effective from 1 July 2024. This street is located in Vadaagaram village and falls under the Kodambakkam SRO. The land classification for this area is Residential Class IV Type - II.

How the guideline value of Muthu Irulandi Colony 2nd Street has changed

Over the years, the guideline value of Muthu Irulandi Colony 2nd Street has seen significant changes. In the 2002 revision, the value was Rs 488 per sq.ft, which increased to Rs 540 per sq.ft in 2003. The following revisions showed a substantial rise, with the value reaching Rs 900 per sq.ft in 2007, and then experiencing a dramatic increase to Rs 3,500 per sq.ft in 2012. However, it dropped to Rs 2,345 per sq.ft in 2017 before climbing back to Rs 3,500 per sq.ft in 2023. The latest revision in 2024 has set the guideline value at Rs 3,800 per sq.ft.

The changes between these revisions are noteworthy. From 2002 to 2024, the overall increase is 679%. The most significant rise occurred between 2007 and 2012, with an increase of 289%. In contrast, the value decreased by 33% from 2012 to 2017. The most recent change from 2023 to 2024 shows an increase of 9%.

Guideline values in Vadaagaram

In Vadaagaram, there are 78 streets under the Kodambakkam SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 16,500 per sq.ft, with a median value of Rs 6,600 per sq.ft. Muthu Irulandi Colony 2nd Street's current guideline value is below this median.

• Muthu Irulandi Colony 2nd Cross Street: Rs 3,800 per sq.ft (2024)
• Muthu Irulandi Colony 3rd Cross Street: Rs 3,800 per sq.ft (2024)
• Muthu Irulandi Colony 3rd Street: Rs 3,800 per sq.ft (2024)
• Muthu Irulandi Colony 1 St Street: Rs 3,800 per sq.ft (2024)
• Muthu Irulandi Colony Main Road: Rs 3,800 per sq.ft (2024)
• Muthu Irulandi Colony 1st Cross Street: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Muthu Irulandi Colony 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,800 per sq.ft, the total guideline value amounts to Rs 38,00,000. The stamp duty at 7% would be Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, bringing the total fees together to Rs 3,42,000. It is important to note that the 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 Muthu Irulandi Colony 2nd Street?

The Sub Registrar Office that covers Muthu Irulandi Colony 2nd Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. To find your SRO, you can visit find your SRO.

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

When buying or selling property in Vadaagaram, the guideline value plays a crucial role in determining the registration fees and stamp duties. The guideline value is the minimum value set by the government for property transactions and is used to calculate the fees associated with the registration process.

It is essential for buyers and sellers to be aware of the current guideline value as it affects the overall cost of the transaction. This ensures that all parties involved are compliant with the legal requirements during the registration of the property.

Frequently asked questions

What is the current guideline value of Muthu Irulandi Colony 2nd Street?

The current guideline value of Muthu Irulandi Colony 2nd Street is Rs 3,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 488 per sq.ft in 2002 to Rs 3,800 per sq.ft in 2024, reflecting an overall increase of 679% over the years.

What are the other streets in Vadaagaram with the same guideline value?

Other streets in Vadaagaram that share the same guideline value of Rs 3,800 per sq.ft include Muthu Irulandi Colony 2nd Cross Street, Muthu Irulandi Colony 3rd Cross Street, Muthu Irulandi Colony 3rd Street, Muthu Irulandi Colony 1 St Street, Muthu Irulandi Colony Main Road, and Muthu Irulandi Colony 1st Cross Street.

What is the registration fee for property in Muthu Irulandi Colony 2nd Street?

The registration fee for property in Muthu Irulandi Colony 2nd Street is calculated based on the guideline value. For a property valued at Rs 38,00,000, the registration fee at 2% would amount to Rs 76,000.

Where is the Sub Registrar Office for Muthu Irulandi Colony 2nd Street located?

The Sub Registrar Office for Muthu Irulandi Colony 2nd Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.