Guideline Value for MUTHUMARI STREET (KR)

Muthumari Street (Kr) guideline value

The current guideline value of Muthumari Street (Kr) in Ninna Karai village is Rs 660 per sq.ft, effective from 1 July 2024. This street falls under the Chengleput Joint II SRO and is classified as Residential Class I Type - III.

How the guideline value of Muthumari Street (Kr) has changed

Over the years, the guideline value of Muthumari Street (Kr) has seen several revisions. The 2012 revision set the value at Rs 600 per sq.ft, which was a decrease of 33% from the 2017 revision of Rs 402 per sq.ft. The value remained at Rs 600 per sq.ft until the 2023 revision, which increased it to Rs 600 per sq.ft, marking a 49% increase. The most recent revision in 2024 raised the guideline value to Rs 660 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for Muthumari Street (Kr). Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Ninna Karai

In Ninna Karai village, there are 449 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 3,500 per sq.ft. The median value is Rs 1,100 per sq.ft, placing the 2024 guideline value of Muthumari Street (Kr) below this median.

• Muthumariamman Koil Street (Ward -17): Rs 660 per sq.ft (2024)
• Muthumariamman Koil Street (Ward -15): Rs 550 per sq.ft (2024)
• Muthu Nagar Kattankilathur (Ward -17): Rs 660 per sq.ft (2024)
• Muthuramalinga Sethupathy Salai(1st Cross St) (Ward -8): Rs 1,321 per sq.ft (2024)
• M.V.R.Nagar: Rs 1,980 per sq.ft (2024)
• Murugan Sintigate (Sa): Rs 440 per sq.ft (2024)

Stamp duty and registration fee for property in Muthumari Street (Kr)

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value would be Rs 6,60,000. The stamp duty at 7% would amount to Rs 46,200, and the registration fee at 2% would be Rs 13,200, bringing the total fees together to Rs 59,400. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Muthumari Street (Kr)?

The Sub Registrar Office that covers Muthumari Street (Kr) 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 Ninna Karai

The guideline value plays a crucial role when buying or selling property in Ninna Karai. It is used to calculate the stamp duty and registration fees that are necessary during the registration process. Buyers and sellers must be aware of the guideline value to ensure compliance with local regulations and to understand the financial implications of their transactions.

When a property is sold, the guideline value is referenced to determine the minimum value for stamp duty. This ensures that the transaction is recorded accurately and that the appropriate fees are collected by the government.

Frequently asked questions

What is the current guideline value of Muthumari Street (Kr)?

The current guideline value of Muthumari Street (Kr) 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 2023 to Rs 660 per sq.ft in 2024, marking a 10% increase. It was Rs 402 per sq.ft in 2017 and Rs 600 per sq.ft in 2012, showing a significant increase of 49% from 2017 to 2023.

What is the land classification of Muthumari Street (Kr)?

Muthumari Street (Kr) is classified as Residential Class I Type - III. This classification is important for understanding the zoning and permissible uses of the land.

Where can I find the Sub Registrar Office for Muthumari Street (Kr)?

The Chengleput Joint II Sub Registrar Office covers Muthumari Street (Kr) and is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. You can find more details by visiting the relevant link.

How is the stamp duty calculated for properties in Muthumari Street (Kr)?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, a 1,000 sq.ft plot at the guideline value of Rs 660 per sq.ft would incur a total stamp duty of Rs 46,200.