Guideline Value for MUTHULAKSHMI STREET / SALAI

Muthulakshmi Street / Salai guideline value

The current guideline value of Muthulakshmi Street / Salai is Rs 11,000 per sq.ft, effective from 1 July 2024. This street is located in Thiruvanmiyur village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of Muthulakshmi Street / Salai has changed

In the 2012 revision, the guideline value was Rs 10,000 per sq.ft. This figure then decreased to Rs 6,700 per sq.ft in the 2017 revision, reflecting a change of -33%. Following this, the value increased significantly to Rs 10,000 per sq.ft in the 2023 revision, and then further rose to Rs 11,000 per sq.ft in the 2024 revision, marking a 10% increase. The overall change from 2012 to 2024 shows an increase of 10%.

The 2023 revision recorded a guideline value of Rs 10,000 per sq.ft, which was a 49% increase from the 2017 figure. It is important to note that there are no figures available for the years 2002, 2003, and 2007 for Muthulakshmi Street / Salai.

Guideline values in Thiruvanmiyur

In Thiruvanmiyur, there are 484 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 3,520 to Rs 12,660 per sq.ft, with a median value of Rs 9,900 per sq.ft. Muthulakshmi Street / Salai's 2024 figure of Rs 11,000 per sq.ft is above this median.

• Muttukadu Road: Rs 12,650 per sq.ft (2024)
• Natesan Street: Rs 7,150 per sq.ft (2024)
• Navabharath Colony: Rs 11,000 per sq.ft (2024)
• Navabharath Colony 1st Street: Rs 11,000 per sq.ft (2024)
• Navabharath Colony 2nd Street: Rs 11,000 per sq.ft (2024)
• Navalar Nedunchezhian Road: Rs 11,000 per sq.ft (2024)

Stamp duty and registration fee for property in Muthulakshmi Street / Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 11,000 per sq.ft, the total guideline value would be Rs 1,10,00,000. The stamp duty at 7% would amount to Rs 7,70,000, while the registration fee at 2% would be Rs 2,20,000, bringing the total to Rs 9,90,000. 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 Muthulakshmi Street / Salai?

The Sub Registrar Office that covers Muthulakshmi Street / Salai is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Thiruvanmiyur. It determines the minimum value at which a property can be registered, and this value is used to calculate stamp duty and registration fees.

When a property is sold, the sale price or the guideline value, whichever is higher, is considered for the calculation of applicable duties and fees. This ensures that the transaction is recorded accurately and that the necessary taxes are collected based on the appropriate value.

Frequently asked questions

What is the current guideline value of Muthulakshmi Street / Salai?

The current guideline value of Muthulakshmi Street / Salai is Rs 11,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions: it was Rs 10,000 per sq.ft in 2012, decreased to Rs 6,700 per sq.ft in 2017, increased to Rs 10,000 per sq.ft in 2023, and finally reached Rs 11,000 per sq.ft in 2024.

What is the land classification for Muthulakshmi Street / Salai?

The land classification for Muthulakshmi Street / Salai is Residential Special Type - II.

Where can I find the Sub Registrar Office for Muthulakshmi Street / Salai?

The Sub Registrar Office for Muthulakshmi Street / Salai is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035.

How is stamp duty calculated for properties in Thiruvanmiyur?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. This ensures that the appropriate amount of duty is paid during the registration process.