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 Vallancheri 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 seen several revisions over the years. The earliest recorded figure is from the 2012 revision, which was Rs 600 per sq.ft. This was followed by a decrease to Rs 402 per sq.ft in the 2017 revision, marking a decline of 33%. However, the value increased significantly to Rs 600 per sq.ft in the 2023 revision, and then rose again to Rs 660 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year. Overall, from 2012 to 2024, the guideline value has increased by 10%.

It is important to note that there are no recorded figures for Muthulinga Devar Street in the revisions of 2002, 2003, and 2007. This lack of data means we can only consider the revisions from 2012 onwards for understanding the changes in guideline value.

Guideline values in Vallancheri

In Vallancheri village, there are 134 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft. The median guideline value for these streets is Rs 825 per sq.ft, placing Muthulinga Devar Street's 2024 figure below this 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 guideline value of Rs 660 per sq.ft, the total 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, resulting in a total cost of 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 details.

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, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration of property transactions in Vallancheri. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, both parties must consider the guideline value as it influences the overall transaction costs. It is essential for buyers to be aware of the guideline value to avoid any discrepancies during the registration process.

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 changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then increased to Rs 600 per sq.ft in 2023, and finally to Rs 660 per sq.ft in 2024.

What is the land classification for Muthulinga Devar Street (Ward-21)?

Muthulinga Devar Street (Ward-21) is classified as Residential Class II Type - I.

Where is the Sub Registrar Office for Muthulinga Devar Street (Ward-21)?

The Sub Registrar Office for Muthulinga Devar Street (Ward-21) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is the stamp duty calculated for properties in Vallancheri?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 6,60,000, the stamp duty would be 7% of this amount.