Guideline Value for MUTHULINGA DEVAR STREET (WARD-21)

Muthulinga Devar Street (Ward-21) guideline value

The current guideline value of Muthulinga Devar Street (Ward-21) is Rs 660 per sq.ft, effective from 1 July 2024. This street is located in Konathi village and falls under the Chengleput Joint II SRO, classified as Residential Class II Type - I.

How the guideline value of Muthulinga Devar Street (Ward-21) has changed

The guideline value for Muthulinga Devar Street has undergone several revisions over the years. The earliest recorded figure is from 2012, which was Rs 600 per sq.ft. In 2017, the value decreased to Rs 402 per sq.ft, marking a decline of 33%. The value then increased significantly to Rs 600 per sq.ft in 2023, followed by a further increase to Rs 660 per sq.ft in 2024, reflecting a 10% rise from the previous year.

From 2017 to 2023, the guideline value rose by 49%. Overall, comparing the figures from 2012 to 2024, there has been a 10% increase. The register does not contain figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Konathi

In Konathi village, there are 131 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 2,500 per sq.ft. The median guideline value in this area is Rs 770 per sq.ft, placing Muthulinga Devar Street's 2024 figure below that median.

• Nandhakumar Street, Thailavaram (Ward-21): Rs 660 per sq.ft (2024)
• Narasimman Nagar (Ward-21): Rs 1,980 per sq.ft (2024)
• Narasimman Street (Ward-21): Rs 660 per sq.ft (2024)
• Mooppanar Street (Ward-20): Rs 880 per sq.ft (2024)
• Moogambigai Nagar (Ward-21): Rs 660 per sq.ft (2024)
• Neenjili Amman Koil Stret (Ward-21): Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Muthulinga Devar Street (Ward-21)

For a 1,000 sq.ft plot at the current rate of Rs 660 per sq.ft, the guideline value amounts to Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, and the registration fee at 2% would be Rs 13,200, totaling Rs 59,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Muthulinga Devar Street (Ward-21)?

The Sub Registrar Office that covers Muthulinga Devar Street (Ward-21) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Konathi, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices and preparing for registration.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Muthulinga Devar Street (Ward-21)?

The current guideline value of Muthulinga Devar Street (Ward-21) is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, from Rs 600 per sq.ft in 2012 to Rs 660 per sq.ft in 2024, with notable increases and decreases in between.

What is the median guideline value in Konathi?

The median guideline value in Konathi is Rs 770 per sq.ft, which is higher than the current value of Muthulinga Devar Street.

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

For a property valued at Rs 6,60,000, the stamp duty would be Rs 46,200 and the registration fee would be Rs 13,200, totaling Rs 59,400.

Where can I find the Sub Registrar Office for Muthulinga Devar Street?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. You can find more information by visiting the appropriate link.