Guideline Value for MUTHU KUMARASWAMY STREET

Muthu Kumaraswamy Street guideline value

The current guideline value of Muthu Kumaraswamy Street is Rs 3,200 per sq.ft, effective from 1 July 2024. This street is located in Perambur village under the Purasaivakkam SRO, and it falls under the Residential Class III Type - I land classification.

How the guideline value of Muthu Kumaraswamy Street has changed

Over the years, the guideline value of Muthu Kumaraswamy Street has seen significant changes. The guideline value was Rs 420 per sq.ft in 2002, which increased to Rs 461 per sq.ft in 2003. Following this, the value rose to Rs 600 per sq.ft in 2007, and then it surged to Rs 3,000 per sq.ft by 2012. However, it dropped to Rs 2,010 per sq.ft in 2017 before rising again to Rs 3,000 per sq.ft in 2023, and finally reaching Rs 3,200 per sq.ft in 2024.

The changes between the revisions indicate a +7% increase from 2023 to 2024, a +49% increase from 2017 to 2023, a -33% decrease from 2012 to 2017, a +400% increase from 2007 to 2012, a +30% increase from 2003 to 2007, and a +10% increase from 2002 to 2003. Overall, from 2002 to 2024, the guideline value has increased by +662%.

Guideline values in Perambur

In Perambur village, there are 1,114 streets under the Purasaivakkam SRO that carry a 2024 guideline value, ranging from Rs 1,600 to Rs 7,100 per sq.ft. The median guideline value is Rs 2,700 per sq.ft, making Muthu Kumaraswamy Street's 2024 figure above that median.

• Muthu Mariamman Koil Street: Rs 1,600 per sq.ft (2024)
• Muthu Mudali Street: Rs 4,400 per sq.ft (2024)
• Muthamizh Street: Rs 2,200 per sq.ft (2024)
• Nacharammal Lane: Rs 3,200 per sq.ft (2024)
• Nacharammal Street: Rs 3,200 per sq.ft (2024)
• Nagammaiyar Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Muthu Kumaraswamy Street

For a 1,000 sq.ft plot at the current rate of Rs 3,200 per sq.ft, the guideline value amounts to Rs 32,00,000. The stamp duty at 7% would be Rs 2,24,000, and the registration fee at 2% would be Rs 64,000, totaling Rs 2,88,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Muthu Kumaraswamy Street?

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

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

The guideline value is a crucial factor when buying or selling property in Perambur. It serves as the minimum value for property transactions and is used to calculate the stamp duty and registration fees during the registration process. Buyers and sellers must consider this value to ensure compliance with local regulations.

During registration, the guideline value helps determine the official value of the property, which is essential for legal and financial purposes. It ensures that the transaction is recorded accurately and that the appropriate taxes are paid based on the established value.

Frequently asked questions

What is the current guideline value of Muthu Kumaraswamy Street?

The current guideline value of Muthu Kumaraswamy Street is Rs 3,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 420 per sq.ft in 2002 to Rs 3,200 per sq.ft in 2024, representing an overall increase of +662%.

What is the land classification for Muthu Kumaraswamy Street?

Muthu Kumaraswamy Street is classified under Residential Class III Type - I land classification.

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

For a property valued at Rs 32,00,000, the stamp duty is Rs 2,24,000, and the registration fee is Rs 64,000, totaling Rs 2,88,000.

Which office handles the registration for Muthu Kumaraswamy Street?

The Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012, handles the registration for Muthu Kumaraswamy Street.