Guideline Value for Maleeswarar Koil street north

Maleeswarar Koil street north guideline value

The current guideline value of Maleeswarar Koil street north is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Muthialpet village and falls under the Chennai North Joint I SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Maleeswarar Koil street north has changed

The guideline value for Maleeswarar Koil street north has seen several revisions over the years. From the 2007 revision, where the value was Rs 1,500 per sq.ft, it increased to Rs 4,500 per sq.ft in 2012, marking a significant increase of 200%. However, it then decreased to Rs 3,015 per sq.ft in 2017, reflecting a decline of 33%. The value rose again to Rs 4,500 per sq.ft in 2023, and currently stands at Rs 4,900 per sq.ft as of the 2024 revision, which is a 9% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 227%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Muthialpet

Muthialpet village has a total of 160 streets under the Chennai North Joint I SRO, with 2024 guideline values ranging from Rs 3,800 to Rs 18,000 per sq.ft. The median value for these streets is Rs 5,500 per sq.ft, making the current value of Maleeswarar Koil street north below this median.

• Maleeswarar Koil street south: Rs 4,900 per sq.ft (2024)
• Maleeswarar Pillar street *: Rs 4,900 per sq.ft (2024)
• Malayappan street: Rs 14,800 per sq.ft (2024)
• Mannady street: Rs 14,800 per sq.ft (2024)
• Maglene street: Rs 4,900 per sq.ft (2024)
• Maracoir street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Maleeswarar Koil street north

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, bringing the total fees to 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.

You can also use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Maleeswarar Koil street north?

The Sub Registrar Office covering Maleeswarar Koil street north is the Chennai North Joint I Sub Registrar Office, located at Nsc Bose Road, Kuralagam First Floor, Esplanade Street, Chennai-105. For more details, you can find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Muthialpet. It serves as a benchmark for determining the minimum value of the property for the purpose of calculating stamp duty and registration fees.

When a property is sold, the guideline value is used to ensure that the transaction is recorded at a fair value, preventing undervaluation. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Maleeswarar Koil street north?

The current guideline value of Maleeswarar Koil street north 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 from Rs 1,500 per sq.ft in 2007 to Rs 4,900 per sq.ft in 2024, reflecting an overall increase of 227% over the years.

What is the median guideline value in Muthialpet?

The median guideline value for streets in Muthialpet is Rs 5,500 per sq.ft, which is higher than the current value of Maleeswarar Koil street north.

What are the stamp duty and registration fees for a property in this area?

For a property valued at Rs 49,00,000, the stamp duty would be Rs 3,43,000 and the registration fee would be Rs 98,000, totaling Rs 4,41,000.

Where is the Sub Registrar Office for Maleeswarar Koil street north located?

The Sub Registrar Office is located at Nsc Bose Road, Kuralagam First Floor, Esplanade Street, Chennai-105, under the Chennai North Joint I SRO.