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 for Muthuramalinga Sethupathy Salai(1st Cross St) (Ward -8) is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Sattamangalam 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 was then reduced to Rs 804 per sq.ft in 2017. Following this, the value increased to Rs 1,200 per sq.ft in 2023 and finally rose to Rs 1,320 per sq.ft in 2024, marking a 10% increase from the previous year. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street. The change from 2017 to 2023 was a significant increase of 49%, while the change from 2012 to 2017 was a decrease of 33%.

Guideline values in Sattamangalam

In Sattamangalam, there are 425 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 2,200 per sq.ft. The median guideline value for the village is Rs 1,100 per sq.ft, placing Muthuramalinga Sethupathy Salai(1st Cross St) above this median.

• Muthu Nagar Kattankilathur (Ward -17): Rs 550 per sq.ft (2024)
• Muthumari Street (Kr): Rs 660 per sq.ft (2024)
• Muthumariamman Koil Street (Ward -17): Rs 550 per sq.ft (2024)
• Muthumariamman Koil Street (Ward -15): Rs 440 per sq.ft (2024)
• Nagavalliamman Koil Street (Ward -2): Rs 1,320 per sq.ft (2024)
• Nagavalliamman Koil Street(Ward -8): Rs 1,980 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 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total cost for these fees to Rs 1,18,800. 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 Muthuramalinga Sethupathy Salai(1st Cross St) (Ward -8)?

The Sub Registrar Office that covers 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 Sattamangalam

The guideline value plays a crucial role in the registration process when buying or selling property in Sattamangalam. It is used to determine the stamp duty and registration fees that must be paid during the transaction. Buyers should be aware that these fees are calculated based on the higher of the guideline value or the sale price.

Understanding the guideline value is essential for both buyers and sellers as it ensures compliance with local regulations and helps in accurately assessing the costs involved in property transactions. It is advisable to check the current guideline values before proceeding with any property dealings.

Frequently asked questions

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

The current guideline value for Muthuramalinga Sethupathy Salai(1st Cross St) (Ward -8) is Rs 1,320 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 increased to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2% of the guideline value. For a 1,000 sq.ft plot, the total fees would amount to Rs 1,18,800.

Which office handles property registrations for Muthuramalinga Sethupathy Salai(1st Cross St) (Ward -8)?

The Chengleput Joint II Sub Registrar Office handles property registrations for Muthuramalinga Sethupathy Salai(1st Cross St) (Ward -8), located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

What is the significance of the guideline value in property transactions?

The guideline value is significant as it determines the stamp duty and registration fees during property transactions. It ensures compliance with local regulations and helps in accurately assessing the costs involved in buying or selling property.