Guideline Value for MUTHUMARI STREET (KR)

Muthumari Street (Kr) guideline value

The current guideline value of Muthumari Street (Kr) in Sattamangalam 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

The guideline value for Muthumari Street (Kr) has seen several revisions over the years. The 2012 revision set the value at Rs 600 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 402 per sq.ft, marking a decline of 33%. However, the value rebounded significantly by the 2023 revision to Rs 600 per sq.ft, and then increased by 10% to Rs 660 per sq.ft in the 2024 revision.

From 2017 to 2023, there was a notable increase of 49% in the guideline value. Overall, from 2012 to 2024, the guideline value has increased by 10%. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Sattamangalam

In Sattamangalam, there are 425 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 2,200 per sq.ft. The median value of these streets is Rs 1,100 per sq.ft, placing Muthumari Street (Kr) below this median value.

• Muthumariamman Koil Street (Ward -17): Rs 550 per sq.ft (2024)
• Muthumariamman Koil Street (Ward -15): Rs 440 per sq.ft (2024)
• Muthu Nagar Kattankilathur (Ward -17): Rs 550 per sq.ft (2024)
• Muthuramalinga Sethupathy Salai(1st Cross St) (Ward -8): Rs 1,320 per sq.ft (2024)
• Nagavalliamman Koil Street (Ward -2): Rs 1,320 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 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, bringing the total fees together to Rs 59,400. It is important to note that the 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 Muthumari Street (Kr)?

The Sub Registrar Office covering Muthumari Street (Kr) 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 Sattamangalam

The guideline value plays a crucial role in property transactions in Sattamangalam. It is used as a benchmark for determining the minimum value of a property during registration. When a property is sold, the guideline value is considered to ensure that the transaction is recorded at a fair price.

During the registration process, buyers and sellers must be aware that 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 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 2012 to Rs 402 per sq.ft in 2017, then back to Rs 600 per sq.ft in 2023, and finally to Rs 660 per sq.ft in 2024.

What is the classification of Muthumari Street (Kr)?

Muthumari Street (Kr) is classified as Residential Class I Type - III under the Chengleput Joint II SRO.

What are the stamp duty and registration fees for a property in Muthumari Street (Kr)?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 46,200 and the registration fee would be Rs 13,200, totaling Rs 59,400.

Which office handles the registration for Muthumari Street (Kr)?

The Chengleput Joint II Sub Registrar Office handles the registration for Muthumari Street (Kr), located at 10, Kancheepuram Main Road, Chengalpattu 603 002.