Guideline Value for MUVENTHAR 2ND STREET

Muventhar 2nd Street guideline value

The current guideline value of Muventhar 2nd Street 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 2nd Street has changed

The guideline value for Muventhar 2nd Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which then changed to Rs 804 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 1,200 per sq.ft, and the most recent 2024 revision brought it to Rs 1,320 per sq.ft. The register has no figures for the years 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%, while from 2017 to 2023, the value increased by 49%. The value has increased by 10% from 2023 to 2024. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Pallikaranai

In Pallikaranai, there are 749 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, indicating that Muventhar 2nd Street's 2024 figure is below this median.

• Muventhar 2nd Cross Street: Rs 1,320 per sq.ft (2024)
• Muventhar Street Extn: 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 2nd Street

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, leading to a total of Rs 1,18,800. Duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Muventhar 2nd Street?

The Sub Registrar Office that covers Muventhar 2nd 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 more information.

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

The guideline value is a crucial factor during the registration of property transactions in Pallikaranai. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When buying or selling property, the guideline value ensures that the transaction is recorded accurately and that the appropriate taxes are collected by the government. It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Muventhar 2nd Street?

The current guideline value of Muventhar 2nd Street 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 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 2nd Street?

The land classification for Muventhar 2nd Street is Residential Class IV Type - II.

Where can I find the Sub Registrar Office for Muventhar 2nd Street?

The Sub Registrar Office for Muventhar 2nd 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.

How is stamp duty calculated for properties in Muventhar 2nd Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 13,20,000, the stamp duty at 7% would amount to Rs 92,400.