Guideline Value for MUTTAIKARAN CHAVADI

Muttaikaran Chavadi guideline value

The current guideline value of Muttaikaran Chavadi is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Okkiyamthuraipakkam village, under the Neelankarai SRO, and is classified as Residential Class I Type - II.

How the guideline value of Muttaikaran Chavadi has changed

The guideline value of Muttaikaran Chavadi has seen several revisions over the years. In 2003, the guideline value was Rs 135 per sq.ft, which increased significantly to Rs 800 per sq.ft in 2007. This was followed by a substantial rise to Rs 3,500 per sq.ft in 2012, but then it dropped to Rs 2,345 per sq.ft in 2017. The value rose again to Rs 3,500 per sq.ft in 2023, and most recently, it has increased to Rs 3,900 per sq.ft in 2024. The register has no figure for this street in 2002.

Between these revisions, the changes were notable. From 2003 to 2007, there was an increase of +493%. However, from 2012 to 2017, the value decreased by -33%. The value then increased by +49% from 2017 to 2023, and from 2023 to 2024, it rose by +11%. Overall, from 2003 to 2024, the guideline value has increased by +2789%.

Guideline values in Okkiyamthuraipakkam

In Okkiyamthuraipakkam, there are 453 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value of Muttaikaran Chavadi is above this median.

• Nagalakshmi Nagar: Rs 2,200 per sq.ft (2024)
• Murugesan Nagar: Rs 2,800 per sq.ft (2024)
• Murugan Nagar: Rs 3,300 per sq.ft (2024)
• Munusamy Street: Rs 2,800 per sq.ft (2024)
• Natesan Street: Rs 2,200 per sq.ft (2024)
• Natural Springs: Rs 6,100 per sq.ft (2024)

Stamp duty and registration fee for property in Muttaikaran Chavadi

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value amounts to Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, bringing the total fees together to Rs 3,51,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Muttaikaran Chavadi?

The Sub Registrar Office that covers Muttaikaran Chavadi is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when buying or selling property in Okkiyamthuraipakkam. It is used to determine the stamp duty and registration fees that are applicable during the registration process. Buyers and sellers must be aware of the guideline value to ensure compliance with the legal requirements during property transactions.

When a property is sold, the guideline value serves as a benchmark to assess the minimum value for taxation purposes. This ensures that the government receives the appropriate revenue from property transactions, reflecting the current market conditions as per the established guidelines.

Frequently asked questions

What is the current guideline value of Muttaikaran Chavadi?

The current guideline value of Muttaikaran Chavadi is Rs 3,900 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 135 per sq.ft in 2003 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of +2789% over the years.

What are the stamp duty and registration fees for property in Muttaikaran Chavadi?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 2,73,000 and the registration fee would be Rs 78,000, totaling Rs 3,51,000.

Which office handles property registrations for Muttaikaran Chavadi?

The Neelankarai Sub Registrar Office handles property registrations for Muttaikaran Chavadi, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

What is the median guideline value in Okkiyamthuraipakkam?

The median guideline value in Okkiyamthuraipakkam is Rs 3,300 per sq.ft, with Muttaikaran Chavadi's current value being above this median.