Guideline Value for Muthamil Street

Muthamil Street guideline value

The current guideline value of Muthamil Street in Peerklankaranai village is Rs 2,200 per sq.ft, effective from 1 July 2024. This street falls under the Tambaram Joint 1 SRO and is classified as Residential Special Type - I.

How the guideline value of Muthamil Street has changed

The guideline value for Muthamil Street has undergone several revisions over the years. In 2012, the guideline value was set at Rs 2,000 per sq.ft. This figure remained unchanged until the 2017 revision, where it decreased to Rs 1,340 per sq.ft. Following this, the value increased significantly to Rs 2,000 per sq.ft in 2023, marking a 49% rise from the 2017 figure. The most recent revision in 2024 saw a further increase to Rs 2,200 per sq.ft, reflecting a 10% rise from the previous year.

There are no figures available for Muthamil Street in the register for the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Peerklankaranai

In Peerklankaranai, there are 322 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 4,400 per sq.ft. The median guideline value for the area is Rs 1,650 per sq.ft, placing Muthamil Street's 2024 figure above this median.

• Muthamil Ist Cross Street: Rs 1,320 per sq.ft (2024)
• Muthamil 2nd Cross Street: Rs 1,320 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 Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost for these fees to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further information, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Muthamil Street?

The Sub Registrar Office that covers Muthamil 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 is a crucial factor in the registration process when buying or selling property in Peerklankaranai. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is used to calculate the fees, ensuring that all transactions adhere to the legal requirements set by the Registration Department. Buyers and sellers should be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Muthamil Street?

The current guideline value of Muthamil Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then increased to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What are the other streets in Peerklankaranai and their guideline values?

Other streets in Peerklankaranai include Muthamil Ist Cross Street at Rs 1,320 per sq.ft, Muthamil 2nd Cross Street at Rs 1,320 per sq.ft, Murugan Street at Rs 1,100 per sq.ft, Muthuswami North Street at Rs 1,100 per sq.ft, Muthuswami South Street at Rs 1,100 per sq.ft, and Muthuswami Street at Rs 1,650 per sq.ft.

What is the stamp duty for property in Muthamil Street?

The stamp duty for a property valued at the current guideline value of Rs 22,00,000 would be Rs 1,54,000, calculated at 7% of the guideline value.

Where is the Sub Registrar Office for Muthamil Street located?

The Tambaram Joint 1 Sub Registrar Office is located at No.26, mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone.