Guideline Value for MUTHURAMALINGA DEVAR STREET

Muthuramalinga Devar Street guideline value

The current guideline value of Muthuramalinga Devar Street is Rs 3,520 per sq.ft, effective from 1 July 2024. This street is located in Ekkaduthangal village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Muthuramalinga Devar Street has changed

The guideline value for Muthuramalinga Devar Street has seen several revisions over the years. In 2002, the value was Rs 422 per sq.ft, which increased to Rs 487 per sq.ft in 2003. The value then rose significantly to Rs 1,000 per sq.ft in 2007, followed by a major jump to Rs 3,200 per sq.ft in 2012. However, it decreased to Rs 2,144 per sq.ft in 2017. The value recovered to Rs 3,200 per sq.ft in 2023 before reaching the current figure of Rs 3,520 per sq.ft in 2024.

From 2017 to 2023, the increase was 49%, while the jump from 2023 to 2024 was 10%. Notably, the value saw a remarkable increase of 220% from 2007 to 2012, and an overall increase of 734% from 2002 to 2024.

Guideline values in Ekkaduthangal

Ekkaduthangal has a total of 190 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 3,080 to Rs 8,800 per sq.ft. The median guideline value in this area is Rs 4,620 per sq.ft, making Muthuramalinga Devar Street's 2024 figure below that median.

• Muthuramalingam 1st Lane: Rs 3,080 per sq.ft (2024)
• Muthuramalingam 2nd Lane: Rs 3,080 per sq.ft (2024)
• Muvendar Street: Rs 3,520 per sq.ft (2024)
• Nakeeran Street: Rs 3,080 per sq.ft (2024)
• Nandhivarman Street: Rs 6,610 per sq.ft (2024)
• Munusamy Reddy Street: Rs 4,620 per sq.ft (2024)

Stamp duty and registration fee for property in Muthuramalinga Devar Street

For a 1,000 sq.ft plot at the current guideline value, the total guideline value amounts to Rs 35,20,000. The stamp duty at 7% would be Rs 2,46,400, and the registration fee at 2% would be Rs 70,400, bringing the total to Rs 3,16,800. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Muthuramalinga Devar Street?

The Sub Registrar Office that covers Muthuramalinga Devar Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. To find your SRO, visit find your SRO.

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

When buying or selling property in Ekkaduthangal, the guideline value plays a crucial role in determining the registration fees and stamp duty. These charges are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the state receives appropriate revenue from property transactions.

It is essential for buyers and sellers to be aware of the current guideline value as it directly impacts the costs associated with property registration. Understanding these values can help in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Muthuramalinga Devar Street?

The current guideline value of Muthuramalinga Devar Street is Rs 3,520 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 422 per sq.ft in 2002 to Rs 3,520 per sq.ft in 2024, reflecting an overall increase of 734% over the years.

What is the median guideline value in Ekkaduthangal?

The median guideline value in Ekkaduthangal is Rs 4,620 per sq.ft, with Muthuramalinga Devar Street's value being below this median.

What are the stamp duty and registration fees for a property in Muthuramalinga Devar Street?

For a property valued at Rs 35,20,000, the stamp duty would be Rs 2,46,400 and the registration fee would be Rs 70,400, totaling Rs 3,16,800.

Which office handles registrations for Muthuramalinga Devar Street?

The Chennai South Joint I Sub Registrar Office handles registrations for Muthuramalinga Devar Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.