Guideline Value for Muthaiah Pillai Street

Muthaiah Pillai Street guideline value

The current guideline value of Muthaiah Pillai Street is Rs 8,700 per sq.ft, effective from 1 July 2024. This street is located in Mylapore Part 1 village and falls under the Chennai Central Joint I SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Muthaiah Pillai Street has changed

According to the register, there are no figures available for Muthaiah Pillai Street for the years 2002, 2003, 2007, 2012, and 2017. The guideline value was Rs 8,000 per sq.ft in 2023, and it increased to Rs 8,700 per sq.ft in 2024, marking a change of +9%.

The 2024 revision reflects the most recent update, with the current value set at Rs 8,700 per sq.ft. Prior to this, the 2023 revision listed the value at Rs 8,000 per sq.ft, showing a notable increase in the guideline value.

Guideline values in Mylapore Part 1

Mylapore Part 1 has a range of guideline values across its 333 streets, with rates varying from Rs 4,400 to Rs 25,300 per sq.ft. The median guideline value for the area is Rs 8,800 per sq.ft, placing Muthaiah Pillai Street's 2024 figure below this median.

• Muthaiah Mudali Street: Rs 8,700 per sq.ft (2024)
• Murrays Gate Road: Rs 14,300 per sq.ft (2024)
• Muthiah Street: Rs 8,700 per sq.ft (2024)
• Muthu Lane: Rs 8,700 per sq.ft (2024)
• Mudaliyanndan Thottam: Rs 7,700 per sq.ft (2024)
• Mudaliyandan Street: Rs 7,700 per sq.ft (2024)

Stamp duty and registration fee for property in Muthaiah Pillai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 8,700 per sq.ft, the total guideline value amounts to Rs 87,00,000. The stamp duty at 7% would be Rs 6,09,000, and the registration fee at 2% would be Rs 1,74,000, bringing the total to Rs 7,83,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Muthaiah Pillai Street?

The Sub Registrar Office that covers Muthaiah Pillai Street is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Mylapore Part 1

The guideline value plays a crucial role in the registration process for property transactions in Mylapore Part 1. It is used to determine the stamp duty and registration fees that must be paid when buying or selling property in this area.

When a property is registered, the guideline value is assessed to ensure that the appropriate fees are calculated. Buyers and sellers must be aware of the current guideline value to understand their financial obligations during the transaction.

Frequently asked questions

What is the current guideline value of Muthaiah Pillai Street?

The current guideline value of Muthaiah Pillai Street is Rs 8,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed in recent years?

The guideline value was Rs 8,000 per sq.ft in 2023 and increased to Rs 8,700 per sq.ft in 2024, reflecting a change of +9%.

What is the median guideline value in Mylapore Part 1?

The median guideline value for Mylapore Part 1 is Rs 8,800 per sq.ft, which is higher than the current value of Muthaiah Pillai Street.

What are the stamp duty and registration fees for a property on Muthaiah Pillai Street?

For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 7,83,000, based on the current guideline value of Rs 87,00,000.

Which office handles the registration for Muthaiah Pillai Street?

The registration for Muthaiah Pillai Street is handled by the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.