Guideline Value for MUVENTHAR STREET EXTN

Muventhar Street Extn guideline value

The current guideline value of Muventhar Street Extn is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Pallikaranai village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class IV Type - II.

How the guideline value of Muventhar Street Extn has changed

The guideline value for Muventhar Street Extn has undergone several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft. In 2017, this value decreased to Rs 804 per sq.ft, marking a decline of 33%. However, the value rose significantly to Rs 1,200 per sq.ft in 2023, and further increased to Rs 1,320 per sq.ft in 2024, reflecting a 10% increase from the previous year. The register has no figure for the years 2002, 2003, and 2007.

From 2017 to 2023, the guideline value increased by 49%. Overall, comparing the 2012 revision to the 2024 revision, there has been a 10% increase in the guideline value. The current rate of Rs 1,320 per sq.ft is indicative of the latest adjustments made in the guideline value register.

Guideline values in Pallikaranai

Pallikaranai village has a total of 749 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 1,110 to Rs 8,580 per sq.ft as of 2024. The median guideline value in this area is Rs 1,650 per sq.ft, making the current value of Muventhar Street Extn below that median.

• Muventhar 2nd Street: Rs 1,320 per sq.ft (2024)
• Muventhar 2nd Cross Street: Rs 1,320 per sq.ft (2024)
• Muventhar 1st Street: Rs 1,320 per sq.ft (2024)
• Muvendar Street: Rs 1,320 per sq.ft (2024)
• Nagamaal Avenue 1st Street: Rs 1,650 per sq.ft (2024)
• Nagamaal Avenue Main Road: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Muventhar Street Extn

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to 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 fees to Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating your fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Muventhar Street Extn?

The Sub Registrar Office that covers Muventhar Street Extn 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 Pallikaranai

The guideline value is a critical factor in the registration process when buying or selling property in Pallikaranai. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers must consider this value to ensure compliance with local regulations during property transactions.

When a property is registered, the guideline value is used to assess the applicable fees, which are calculated based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Muventhar Street Extn?

The current guideline value of Muventhar Street Extn 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 back to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What is the land classification for Muventhar Street Extn?

Muventhar Street Extn is classified as Residential Class IV Type - II.

Where can I find the Sub Registrar Office for Muventhar Street Extn?

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

How is the stamp duty calculated for properties in Muventhar Street Extn?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a plot of 1,000 sq.ft at the current guideline value, the total fees would amount to Rs 1,18,800.