Guideline Value for MUTHU KIRAMANI STREET

Muthu Kiramani Street guideline value

The current guideline value of Muthu Kiramani Street is Rs 8,800 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village under the Mylapore SRO, and it falls under the Residential Class III Type - III land classification.

How the guideline value of Muthu Kiramani Street has changed

The guideline value for Muthu Kiramani Street has seen several revisions over the years. The earliest available figure is from 2002, which was Rs 783 per sq.ft. This value increased to Rs 870 per sq.ft in 2003, marking an increase of 11%. Following this, the value rose significantly to Rs 1,540 per sq.ft in 2007, a change of 77%. The value then jumped to Rs 8,000 per sq.ft in 2012, an increase of 419%. However, it decreased to Rs 5,360 per sq.ft in 2017, reflecting a decline of 33%. The value saw a substantial rise again to Rs 8,000 per sq.ft in 2023, which was a 49% increase. The latest revision in 2024 has set the guideline value at Rs 8,800 per sq.ft, a 10% increase from the previous year.

There are no figures available for the years between these revisions for Muthu Kiramani Street. Overall, from 2002 to 2024, the guideline value has increased by 1024%.

Guideline values in Mylapore

In Mylapore, there are 883 streets under the Mylapore SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median guideline value is Rs 8,800 per sq.ft, placing Muthu Kiramani Street at this median value.

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

Stamp duty and registration fee for property in Muthu Kiramani Street

For a 1,000 sq.ft plot at the current guideline value of Rs 8,800 per sq.ft, the total guideline value amounts to Rs 88,00,000. The stamp duty at 7% would be Rs 6,16,000, and the registration fee at 2% would be Rs 1,76,000, bringing the total to Rs 7,92,000. Please note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Muthu Kiramani Street?

The Sub Registrar Office that covers Muthu Kiramani Street is 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 is a crucial factor in the registration process of property transactions in Mylapore. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the registration fees and taxes are calculated based on this value.

When buying or selling property, it is essential to be aware of the guideline value as it affects the overall costs involved in the transaction. Buyers should ensure that the sale price is at least equal to the guideline value to avoid any issues during registration.

Frequently asked questions

What is the current guideline value of Muthu Kiramani Street?

The current guideline value of Muthu Kiramani Street is Rs 8,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 783 per sq.ft in 2002 to Rs 8,800 per sq.ft in 2024, showing an overall increase of 1024% over the years.

What is the land classification for Muthu Kiramani Street?

Muthu Kiramani Street falls under the Residential Class III Type - III land classification.

Where can I find the Sub Registrar Office for Muthu Kiramani Street?

The Sub Registrar Office for Muthu Kiramani Street is located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.

How is the stamp duty calculated for properties in Muthu Kiramani Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 6,16,000.