Guideline Value for MUTHURAMALINGA SETHUPATHY SALAI(1ST CROSS ST) (WARD -8)

Muthuramalinga Sethupathy Salai(1st Cross St) (Ward -8) guideline value

The current guideline value of Muthuramalinga Sethupathy Salai(1st Cross St) (Ward -8) is Rs 1,321 per sq.ft, effective from 1 July 2024. This street is located in Ninna Karai village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Special Type - V.

How the guideline value of Muthuramalinga Sethupathy Salai(1st Cross St) (Ward -8) has changed

The guideline value for Muthuramalinga Sethupathy Salai(1st Cross St) has seen several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 804 per sq.ft. In 2023, the value increased significantly to Rs 1,200 per sq.ft, and the latest revision in 2024 raised it to Rs 1,321 per sq.ft, marking a 10% increase from the previous year.

In terms of percentage changes, the guideline value increased by 49% from 2017 to 2023, and there was a decrease of 33% from 2012 to 2017. Overall, from 2012 to 2024, there has been a 10% increase in the guideline value. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Ninna Karai

Ninna Karai village has a total of 449 streets under the Chengleput Joint II SRO, with a 2024 guideline value range from Rs 440 to Rs 3,500 per sq.ft. The median guideline value for these streets is Rs 1,100 per sq.ft, placing Muthuramalinga Sethupathy Salai(1st Cross St) above this median.

• Muthu Nagar Kattankilathur (Ward -17): Rs 660 per sq.ft (2024)
• Muthumari Street (Kr): Rs 660 per sq.ft (2024)
• Muthumariamman Koil Street (Ward -17): Rs 660 per sq.ft (2024)
• Muthumariamman Koil Street (Ward -15): Rs 550 per sq.ft (2024)
• M.V.R.Nagar: Rs 1,980 per sq.ft (2024)
• Nagavalliamman Koil Street (Ward -2): Rs 1,321 per sq.ft (2024)

Stamp duty and registration fee for property in Muthuramalinga Sethupathy Salai(1st Cross St) (Ward -8)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,321 per sq.ft, the total guideline value would be Rs 13,21,000. The stamp duty at 7% would amount to Rs 92,470, and the registration fee at 2% would be Rs 26,420, bringing the total fees together to Rs 1,18,890. 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 detailed calculations.

Which Sub Registrar Office covers Muthuramalinga Sethupathy Salai(1st Cross St) (Ward -8)?

The Sub Registrar Office covering Muthuramalinga Sethupathy Salai(1st Cross St) (Ward -8) 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 is a crucial factor in the registration process for property transactions in Ninna Karai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property sales.

When a buyer or seller engages in a property transaction, the guideline value is used to calculate the stamp duty and registration fees. This value helps maintain transparency and fairness in property dealings, as it reflects the official valuation of the property based on its location and characteristics.

Frequently asked questions

What is the current guideline value of Muthuramalinga Sethupathy Salai(1st Cross St) (Ward -8)?

The current guideline value of Muthuramalinga Sethupathy Salai(1st Cross St) (Ward -8) is Rs 1,321 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then back to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,321 per sq.ft in 2024. This reflects various increases and decreases in the value over the years.

What is the land classification of Muthuramalinga Sethupathy Salai(1st Cross St)?

The land classification for Muthuramalinga Sethupathy Salai(1st Cross St) is Residential Special Type - V, indicating its designated use for residential purposes.

Where can I find the Chengleput Joint II SRO?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone.

How is stamp duty calculated for properties in Ninna Karai?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if a property has a guideline value of Rs 13,21,000, the stamp duty would be calculated at 7% of that amount.