Guideline Value for MUTHUKRISHNAN STREET

Muthukrishnan Street guideline value

The current guideline value of Muthukrishnan Street is Rs 7,000 per sq.ft, effective from 1 July 2024. This street is located in Vadaagaram village, under the Kodambakkam SRO, and is classified as Mixed Type - II land.

How the guideline value of Muthukrishnan Street has changed

The guideline value for Muthukrishnan Street has seen significant changes over the years. In 2002, the guideline value was Rs 618 per sq.ft, which increased to Rs 684 per sq.ft in 2003, marking an 11% rise. Following this, the value surged to Rs 1,500 per sq.ft in 2007, reflecting a substantial increase of 119%. The value then rose dramatically to Rs 6,500 per sq.ft in 2012, a remarkable 333% increase from the previous revision.

From 2012 to 2017, the guideline value dropped to Rs 4,355 per sq.ft, a decrease of 33%. However, the value rebounded significantly to Rs 6,500 per sq.ft in 2023, representing a 49% increase. The most recent revision in 2024 saw the guideline value rise to Rs 7,000 per sq.ft, an 8% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 1,033%.

Guideline values in Vadaagaram

In Vadaagaram, there are 78 streets under the Kodambakkam SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 16,500 per sq.ft. The median value for these streets is Rs 6,600 per sq.ft, placing Muthukrishnan Street's 2024 figure above this median.

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

Stamp duty and registration fee for property in Muthukrishnan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,000 per sq.ft, the total guideline value amounts to Rs 70,00,000. The stamp duty at 7% would be Rs 4,90,000, and the registration fee at 2% would be Rs 1,40,000, bringing the total cost to Rs 6,30,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Muthukrishnan Street?

The Sub Registrar Office that covers Muthukrishnan Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Vadaagaram. It is used to determine the stamp duty and registration fees that must be paid to the government. Buyers should be aware that the guideline value may differ from the actual sale price, and the higher of the two will be used for calculating these fees.

Understanding the guideline value is essential for both buyers and sellers, as it helps ensure compliance with local regulations during property transactions. It is advisable to check the latest guideline values before proceeding with any real estate transactions in the area.

Frequently asked questions

What is the current guideline value of Muthukrishnan Street?

The current guideline value of Muthukrishnan Street is Rs 7,000 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 618 per sq.ft in 2002 to Rs 7,000 per sq.ft in 2024, reflecting an overall increase of 1,033% over this period.

What is the land classification for Muthukrishnan Street?

Muthukrishnan Street is classified as Mixed Type - II land under the Kodambakkam SRO.

What are the stamp duty and registration fees for properties on Muthukrishnan Street?

For a 1,000 sq.ft property at the current guideline value, the total stamp duty would be Rs 4,90,000 and the registration fee would be Rs 1,40,000, totaling Rs 6,30,000.

Where is the Sub Registrar Office for Muthukrishnan Street located?

The Kodambakkam Sub Registrar Office is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.