Guideline Value for Muthalamman Koil Street

Muthalamman Koil Street guideline value

The current guideline value of Muthalamman Koil Street is Rs 2,900 per sq.ft, effective from 1 July 2024. This street is located in Selaiyur village, under the Selaiyur SRO, and is classified as Residential Special Type - I.

How the guideline value of Muthalamman Koil Street has changed

The guideline value for Muthalamman Koil Street has undergone several revisions over the years. In 2007, the guideline value was Rs 600 per sq.ft, which increased significantly to Rs 2,700 per sq.ft in 2012, marking a rise of 350%. However, by 2017, the value decreased to Rs 1,809 per sq.ft, reflecting a decline of 33%. The 2023 revision set the value at Rs 2,700 per sq.ft, and the latest 2024 revision has increased it to Rs 2,900 per sq.ft, which is a rise of 7%.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 383%.

Guideline values in Selaiyur

In Selaiyur village, there are 478 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 6,500 per sq.ft, with a median value of Rs 2,200 per sq.ft. Muthalamman Koil Street's 2024 guideline value of Rs 2,900 per sq.ft is above this median.

• Murugesan Street: Rs 850 per sq.ft (2024)
• Murugesan Nagar: Rs 850 per sq.ft (2024)
• Muthamil Street: Rs 1,100 per sq.ft (2024)
• Muthulinga Mudali Street: Rs 1,300 per sq.ft (2024)
• Muthumariamman Koil Street: Rs 1,100 per sq.ft (2024)
• Munisundaram Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Muthalamman Koil Street

For a 1,000 sq.ft plot at the current rate of Rs 2,900 per sq.ft, the guideline value amounts to Rs 29,00,000. The stamp duty at 7% would be Rs 2,03,000, and the registration fee at 2% would be Rs 58,000, totaling Rs 2,61,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Muthalamman Koil Street?

The Sub Registrar Office that covers Muthalamman Koil Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Selaiyur. It serves as a reference point for determining the market price of properties during registration. Buyers and sellers must consider the guideline value to ensure compliance with local regulations and to accurately calculate the associated fees.

When a property is registered, the guideline value is used to assess the stamp duty and registration fees. This ensures that the transaction is documented at a value that reflects the current market conditions as determined by the local authorities.

Frequently asked questions

What is the current guideline value of Muthalamman Koil Street?

The current guideline value of Muthalamman Koil Street is Rs 2,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 2,900 per sq.ft in 2024, reflecting an overall increase of 383% over the years.

What are the stamp duty and registration fees for properties in Muthalamman Koil Street?

For a property valued at Rs 2,900 per sq.ft, the stamp duty would be Rs 2,03,000 and the registration fee would be Rs 58,000, totaling Rs 2,61,000 for a 1,000 sq.ft plot.

Which Sub Registrar Office covers Muthalamman Koil Street?

The Selaiyur Sub Registrar Office covers Muthalamman Koil Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

What is the land classification of Muthalamman Koil Street?

Muthalamman Koil Street is classified as Residential Special Type - I, indicating its suitability for residential development.