Guideline Value for MUTHUPANDIAN AVENUE

Muthupandian Avenue guideline value

The current guideline value of Muthupandian Avenue is Rs 11,500 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village, under the Mylapore SRO, and is classified as Residential Class II Type - III.

How the guideline value of Muthupandian Avenue has changed

Over the years, the guideline value of Muthupandian Avenue has seen significant changes. Starting from the 2002 revision, the guideline value was Rs 1,592 per sq.ft. This increased to Rs 1,769 per sq.ft in 2003, marking an 11% rise. The value then surged dramatically to Rs 10,500 per sq.ft in 2012, reflecting a substantial increase of 494%. The guideline value remained at Rs 10,500 per sq.ft through the 2023 revision, with no changes recorded for the years 2007 and 2017. As of the 2024 revision, the guideline value has risen to Rs 11,500 per sq.ft, representing a 10% increase from the previous year.

Guideline values in Mylapore

In Mylapore, there are 883 streets under the Mylapore SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median guideline value for these streets is Rs 8,800 per sq.ft, placing Muthupandian Avenue's 2024 figure above this median.

• Muthuram Mudali Street: Rs 3,300 per sq.ft (2024)
• Muthurangam Street: Rs 8,800 per sq.ft (2024)
• Muthu Street: Rs 8,800 per sq.ft (2024)
• Nachiyappan Street: Rs 8,800 per sq.ft (2024)
• Muthu Krishna Mudali Street: Rs 8,800 per sq.ft (2024)
• Muthu Kiramani Street: Rs 8,800 per sq.ft (2024)

Stamp duty and registration fee for property in Muthupandian Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 11,500 per sq.ft, the total guideline value would be Rs 1,15,00,000. The stamp duty at 7% would amount to Rs 8,05,000, and the registration fee at 2% would be Rs 2,30,000, making the total Rs 10,35,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Muthupandian Avenue?

The Sub Registrar Office that covers Muthupandian Avenue is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Mylapore. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling property, it is essential to consider the guideline value, as it influences the stamp duty and registration fees payable at the time of registration.

Additionally, the guideline value helps maintain transparency in property transactions, ensuring that properties are not undervalued or overvalued during the registration process. Buyers and sellers should be aware of the current guideline value to make informed decisions.

Frequently asked questions

What is the current guideline value of Muthupandian Avenue?

The current guideline value of Muthupandian Avenue is Rs 11,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,592 per sq.ft in 2002 to Rs 11,500 per sq.ft in 2024, with various revisions in between.

What is the land classification for Muthupandian Avenue?

Muthupandian Avenue is classified as Residential Class II Type - III.

Where can I find the Mylapore Sub Registrar Office?

The Mylapore Sub Registrar Office is located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018.

How is stamp duty calculated for properties in Muthupandian Avenue?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 1,15,00,000, the stamp duty would be Rs 8,05,000 at a rate of 7%.