Guideline Value for Maleeswarar Pillar street *

Maleeswarar Pillar street * guideline value

The current guideline value of Maleeswarar Pillar street * 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 Pillar street * has changed

The guideline value of Maleeswarar Pillar street * has undergone several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 1,500 per sq.ft. This value increased significantly to Rs 4,500 per sq.ft in 2012, marking a 200% rise. However, it saw a decrease to Rs 3,015 per sq.ft in 2017, which is a decline of 33%. The value then rose sharply to Rs 4,500 per sq.ft in 2023, followed by another increase to Rs 4,900 per sq.ft in 2024, reflecting a 9% growth.

In summary, the guideline value has changed from Rs 1,500 per sq.ft in 2007 to Rs 4,900 per sq.ft in 2024, resulting in an overall increase of 227% over this period. The revisions for the years 2002 and 2003 do not have any recorded figures for this street.

Guideline values in Muthialpet

In Muthialpet, there are 160 streets under the Chennai North Joint I SRO that have a guideline value in 2024, ranging from Rs 3,800 to Rs 18,000 per sq.ft. The median guideline value for these streets is Rs 5,500 per sq.ft, placing Maleeswarar Pillar street * below this median.

• Maleeswarar Koil street south: Rs 4,900 per sq.ft (2024)
• Maleeswarar Koil street north: 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 Pillar street *

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value amounts to Rs 49,00,000. The stamp duty, calculated at 7%, would be Rs 3,43,000, while the registration fee at 2% would be Rs 98,000. Together, the total cost for these fees would be Rs 4,41,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Maleeswarar Pillar street *?

The Sub Registrar Office that covers Maleeswarar Pillar street * is the Chennai North Joint I Sub Registrar Office. The office is located at Nsc Bose Road, Kuralagam First Floor, Esplaned Street, Chennai-105. You can find your SRO for more information.

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

The guideline value is a critical factor when registering property transactions in Muthialpet. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, both the buyer and seller must consider the guideline value to avoid discrepancies. The registration process will require that the property value declared is either the sale price or the guideline value, whichever is higher, to ensure compliance with legal requirements.

Frequently asked questions

What is the current guideline value of Maleeswarar Pillar street *?

The current guideline value of Maleeswarar Pillar street * is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 1,500 per sq.ft to Rs 4,900 per sq.ft in 2024, reflecting an overall increase of 227% over this period.

What are the stamp duty and registration fees for a property in Maleeswarar Pillar street *?

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.

Which office handles registrations for Maleeswarar Pillar street *?

The Chennai North Joint I Sub Registrar Office handles registrations for Maleeswarar Pillar street *, located at Nsc Bose Road, Kuralagam First Floor, Esplaned Street, Chennai-105.

What is the significance of the guideline value when buying property?

The guideline value is used as a benchmark for property registration, determining the minimum value for transactions and ensuring appropriate stamp duty and registration fees are collected by the government.