Guideline Value for Muthamil Ist Cross Street

Muthamil Ist Cross Street guideline value

The current guideline value for Muthamil Ist Cross Street is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Peerklankaranai village, under the Tambaram Joint 1 SRO, and is classified as Residential Class I Type - III.

How the guideline value of Muthamil Ist Cross Street has changed

The guideline value for Muthamil Ist Cross Street has undergone several revisions over the years. In the 2012 revision, the guideline value was set at Rs 1,200 per sq.ft, which was then reduced to Rs 804 per sq.ft in the 2017 revision, marking a decrease of 33%. However, from 2017 to 2023, the value increased significantly to Rs 1,200 per sq.ft, reflecting a rise of 49%. The latest revision in 2024 has further increased the value to Rs 1,320 per sq.ft, representing a 10% increase from the previous year.

It is important to note that there are no figures available for Muthamil Ist Cross Street in the revisions for the years 2002, 2003, and 2007. Overall, comparing the 2012 and 2024 revisions, there has been a 10% increase in the guideline value.

Guideline values in Peerklankaranai

In Peerklankaranai, there are 322 streets under the Tambaram Joint 1 SRO that have a 2024 guideline value ranging from Rs 880 to Rs 4,400 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, making the 2024 figure for Muthamil Ist Cross Street below this median.

• Muthamil 2nd Cross Street: Rs 1,320 per sq.ft (2024)
• Muthamil Street: Rs 2,200 per sq.ft (2024)
• Murugan Street: Rs 1,100 per sq.ft (2024)
• Muthuswami North Street: Rs 1,100 per sq.ft (2024)
• Muthuswami South Street: Rs 1,100 per sq.ft (2024)
• Muthuswami Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Muthamil Ist Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total fees to Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Muthamil Ist Cross Street?

The Sub Registrar Office that covers Muthamil Ist Cross Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Peerklankaranai. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration.

When a property is sold, the guideline value is considered to ensure that the transaction is registered at a value that reflects the current market conditions. This helps maintain transparency and accountability in property transactions.

Frequently asked questions

What is the current guideline value of Muthamil Ist Cross Street?

The current guideline value of Muthamil Ist Cross Street is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then increased to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What is the land classification of Muthamil Ist Cross Street?

Muthamil Ist Cross Street is classified as Residential Class I Type - III.

What are the stamp duty and registration fees for a property in Muthamil Ist Cross Street?

For a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400 and the registration fee would be Rs 26,400, totaling Rs 1,18,800.

Where is the Sub Registrar Office for Muthamil Ist Cross Street located?

The Sub Registrar Office for Muthamil Ist Cross Street is located at No.26, Mes Road, East Tambaram, Chennai-600059, under the Chengalpattu registration zone.