Guideline Value for Muthamil Street

Muthamil Street guideline value

The current guideline value of Muthamil Street, located in Selaiyur village under the Selaiyur SRO, is Rs 1,100 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class IV Type - I land classification.

How the guideline value of Muthamil Street has changed

The guideline value for Muthamil Street has undergone several revisions over the years. In 2007, the value was set at Rs 600 per sq.ft. This increased to Rs 1,000 per sq.ft in 2012, marking a 67% rise. However, it then decreased by 33% to Rs 670 per sq.ft in 2017. Following this, the value saw a significant increase of 49% to Rs 1,000 per sq.ft in 2023, before reaching the current figure of Rs 1,100 per sq.ft in 2024, reflecting a 10% increase from the previous year.

It is important to note that the register has no figures for Muthamil Street in the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 83%.

Guideline values in Selaiyur

In Selaiyur, 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. The median value for these streets is Rs 2,200 per sq.ft, positioning Muthamil Street's 2024 figure below this median.

• Muthalamman Koil Street: Rs 2,900 per sq.ft (2024)
• Murugesan Street: Rs 850 per sq.ft (2024)
• Murugesan Nagar: Rs 850 per sq.ft (2024)
• Muthulinga Mudali Street: Rs 1,300 per sq.ft (2024)
• Muthumariamman Koil Street: Rs 1,100 per sq.ft (2024)
• Muthuramalingam Devar Street: Rs 1,800 per sq.ft (2024)

Stamp duty and registration fee for property in Muthamil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total fees together to Rs 99,000. It is important to note that 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 Muthamil Street?

The Sub Registrar Office that covers Muthamil 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 reference point when buying or selling property in Selaiyur. It determines the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately for taxation purposes.

When registering a property, buyers and sellers must consider the guideline value, as it affects the stamp duty and registration fees payable. This ensures that both parties are aware of the financial implications of the transaction and are compliant with local regulations.

Frequently asked questions

What is the current guideline value of Muthamil Street?

The current guideline value of Muthamil Street is Rs 1,100 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 1,100 per sq.ft in 2024, reflecting an overall increase of 83% over the years.

What is the land classification for Muthamil Street?

Muthamil Street is classified under Residential Class IV Type - I land classification.

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

For a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000, and the registration fee would be Rs 22,000, totaling Rs 99,000.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.