Guideline Value for Mabuskhan Garden Street

Mabuskhan Garden Street guideline value

The current guideline value of Mabuskhan Garden Street is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Muthiyalpet village under the Sowcarpet SRO, classified as Residential Special Type - III.

How the guideline value of Mabuskhan Garden Street has changed

Over the years, the guideline value for Mabuskhan Garden Street has seen significant changes. In the 2007 revision, the value was Rs 1,600 per sq.ft, which increased to Rs 4,500 per sq.ft in 2012, marking a rise of 181%. However, it then decreased to Rs 3,015 per sq.ft in 2017, a drop of 33%. The value rebounded to Rs 4,500 per sq.ft in 2023, and currently stands at Rs 4,900 per sq.ft as per the 2024 revision, reflecting a 9% increase from the previous year.

It is important to note that the register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 206%.

Guideline values in Muthiyalpet

Muthiyalpet village has a total of 357 streets under the Sowcarpet SRO, with guideline values ranging from Rs 3,800 to Rs 16,500 per sq.ft as of 2024. The median guideline value in this area is Rs 4,400 per sq.ft, placing Mabuskhan Garden Street's current value above this median.

• Madura Vasal Lane: Rs 4,400 per sq.ft (2024)
• Madura Vasal Street: Rs 4,400 per sq.ft (2024)
• Lendriyan Devidson Street: Rs 6,000 per sq.ft (2024)
• Lawyer Chinna Thambi Mudali Street: Rs 4,400 per sq.ft (2024)
• Malaiya Perumal Street: Rs 8,800 per sq.ft (2024)
• Malaiyappan Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Mabuskhan Garden Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value would be Rs 49,00,000. The stamp duty at 7% would amount to Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, resulting in a total cost of Rs 4,41,000. 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 Mabuskhan Garden Street?

The Sub Registrar Office that covers Mabuskhan Garden Street is the Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Muthiyalpet. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the transaction is recorded at a value that reflects the prevailing market conditions.

When a property is sold, the buyer and seller must consider the guideline value to calculate the applicable stamp duty and registration fees. This ensures compliance with local regulations and helps in the smooth transfer of property ownership.

Frequently asked questions

What is the current guideline value of Mabuskhan Garden Street?

The current guideline value of Mabuskhan Garden Street is Rs 4,900 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 1,600 per sq.ft in 2007 to Rs 4,900 per sq.ft in 2024, reflecting an overall increase of 206% over the years.

What is the land classification of Mabuskhan Garden Street?

Mabuskhan Garden Street is classified as Residential Special Type - III under the land classification system.

Where can I find the Sub Registrar Office for Mabuskhan Garden Street?

The Sub Registrar Office for Mabuskhan Garden Street is located at No.11, Davidson Street, Sowcarpet, Chennai-01.

How is the stamp duty calculated for properties in Muthiyalpet?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 49,00,000, the stamp duty would be Rs 3,43,000 at a rate of 7%.