Guideline Value for MUVENDAR STREET

Muvendar Street guideline value

The current guideline value of Muvendar Street is Rs 3,520 per sq.ft, effective from 1 July 2024. This street is located in Ekkaduthangal village, which 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 Muvendar Street has changed

The guideline value of Muvendar Street has seen several revisions over the years. In 2002, the value was Rs 397 per sq.ft, which increased to Rs 458 per sq.ft in 2003. Following this, the value rose significantly to Rs 1,000 per sq.ft in 2007, and then to Rs 3,200 per sq.ft in 2012. However, it decreased to Rs 2,144 per sq.ft in 2017. The value then increased to Rs 3,200 per sq.ft in 2023, before reaching the current value of Rs 3,520 per sq.ft in 2024.

Between the revisions, there were notable changes. From 2017 to 2023, the value increased by 49%. The jump from 2007 to 2012 was substantial, at +220%. The overall increase from 2002 to 2024 is +787%. There are no figures in the register for revisions in years other than those listed.

Guideline values in Ekkaduthangal

In Ekkaduthangal, there are 190 streets under the Chennai South Joint I SRO that have a 2024 guideline value ranging from Rs 3,080 to Rs 8,800 per sq.ft, with a median value of Rs 4,620 per sq.ft. Muvendar Street's 2024 figure is below this median.

• Muthuramalingam 2nd Lane: Rs 3,080 per sq.ft (2024)
• Muthuramalingam 1st Lane: Rs 3,080 per sq.ft (2024)
• Muthuramalinga Devar 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 Muvendar Street

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 35,20,000. The stamp duty at 7% amounts to Rs 2,46,400, and the registration fee at 2% is Rs 70,400, bringing the total to Rs 3,16,800. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Muvendar Street?

The Sub Registrar Office that covers Muvendar 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. You can find your SRO for further assistance.

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

The guideline value is an important factor in the registration process when buying or selling property in Ekkaduthangal. It serves as a benchmark for determining the stamp duty and registration fees payable during the transaction.

When a property is registered, the guideline value is compared with the sale price. The higher of the two values is used to calculate the applicable duties and fees, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Muvendar Street?

The current guideline value of Muvendar 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 from Rs 397 per sq.ft in 2002 to Rs 3,520 per sq.ft in 2024, reflecting an overall increase of 787% over the years.

What is the land classification for Muvendar Street?

Muvendar Street is classified as Residential Class III Type - I, indicating its designation for residential purposes.

What are the stamp duty and registration fees for property transactions?

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

Where is the Sub Registrar Office for Muvendar Street located?

The Sub Registrar Office for Muvendar Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.