Guideline Value for Muslim Street

Muslim Street guideline value

The current guideline value of Muslim Street in Kovilpathagai village is Rs 805 per sq.ft, effective from 1 July 2024. This street falls under the Ambattur SRO and is classified as Residential Class II Type - II.

How the guideline value of Muslim Street has changed

In the 2012 revision, the guideline value was Rs 700 per sq.ft. This figure decreased to Rs 469 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, there was a significant increase of 72%, bringing the value back up to Rs 805 per sq.ft. The 2024 revision maintained this value at Rs 805 per sq.ft, showing no change from the previous year.

The register has no figures for the years 2002, 2003, and 2007 for Muslim Street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 15%.

Guideline values in Kovilpathagai

In Kovilpathagai, there are 278 streets under the Ambattur SRO, with guideline values ranging from Rs 803 to Rs 2,900 per sq.ft. The median guideline value for the area is Rs 870 per sq.ft, making the 2024 figure for Muslim Street below this median.

• Munusami Street: Rs 880 per sq.ft (2024)
• Mullai Nager Vanaja Street: Rs 1,200 per sq.ft (2024)
• Mullai Nager Subramani Street: Rs 1,200 per sq.ft (2024)
• Mullai Nager Singaram Street: Rs 1,200 per sq.ft (2024)
• Mullai Nager Shankara Subbu Street: Rs 1,200 per sq.ft (2024)
• Mullai Nager Rathinam Street: Rs 1,200 per sq.ft (2024)

Stamp duty and registration fee for property in Muslim Street

For a 1,000 sq.ft plot at the current guideline value of Rs 805 per sq.ft, the total guideline value amounts to Rs 8,05,000. The stamp duty at 7% would be Rs 56,350, and the registration fee at 2% would be Rs 16,100, totaling Rs 72,450. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Muslim Street?

The Sub Registrar Office that covers Muslim Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur- 600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration of property transactions in Kovilpathagai. It serves as a benchmark for determining the stamp duty and registration fees that buyers and sellers must pay when completing a property transaction.

When a property is bought or sold, the guideline value helps ensure that the transaction is recorded at a fair price, reflecting the current market conditions as determined by the Registration Department. This is crucial for maintaining transparency and accountability in real estate transactions.

Frequently asked questions

What is the current guideline value of Muslim Street?

The current guideline value of Muslim Street is Rs 805 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, starting from Rs 700 per sq.ft in 2012, dropping to Rs 469 per sq.ft in 2017, and then rising to Rs 805 per sq.ft by 2023 and remaining the same in 2024.

What are the other streets in Kovilpathagai with their guideline values?

Other streets in Kovilpathagai include Munusami Street at Rs 880 per sq.ft, and several streets in Mullai Nager at Rs 1,200 per sq.ft. The guideline values vary across different streets in the village.

How is the stamp duty calculated for properties in Muslim Street?

Stamp duty for properties in Muslim Street is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 8,05,000 would incur a stamp duty of Rs 56,350 at 7%.

Where can I find the Sub Registrar Office for Muslim Street?

The Sub Registrar Office for Muslim Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur- 600 053, Chennai registration zone.