Guideline Value for Muthamizhil street

Muthamizhil street guideline value

The current guideline value of Muthamizhil street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Gooduvancheri village, under the Gooduvancheri SRO, and is classified as Residential Class II Type - I.

How the guideline value of Muthamizhil street has changed

In the 2017 revision, the guideline value for Muthamizhil street was Rs 737 per sq.ft. This figure remained unchanged in the 2023 revision, which also recorded Rs 1,100 per sq.ft. The 2024 revision has kept the guideline value at Rs 1,100 per sq.ft, indicating no change from the previous year. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

From 2017 to 2023, there was a significant increase of 49% in the guideline value. Overall, from 2017 to 2024, the guideline value has also increased by 49%.

Guideline values in Gooduvancheri

In Gooduvancheri village, there are 129 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 3,500 per sq.ft, with a median value of Rs 1,500 per sq.ft. Muthamizhil street's 2024 guideline value is below this median.

• Nakeeran Street: Rs 2,001 per sq.ft (2024)
• Mosque Street: Rs 1,200 per sq.ft (2024)
• Mohanapriya Nagar Extn: Rs 1,500 per sq.ft (2024)
• Moganapriya Nagar: Rs 1,500 per sq.ft (2024)
• Nataraja Nayakar Street: Rs 1,200 per sq.ft (2024)
• M.K. Nagar: Rs 1,500 per sq.ft (2024)

Stamp duty and registration fee for property in Muthamizhil street

For a 1,000 sq.ft plot at the current rate of Rs 1,100 per sq.ft, the 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, totaling Rs 99,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Muthamizhil street?

The Sub Registrar Office that covers Muthamizhil street is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role when buying or selling property in Gooduvancheri. It is used to determine the stamp duty and registration fees that must be paid during the transaction. Buyers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

When registering a property, the guideline value ensures that the transaction is recorded at a fair value, helping to maintain transparency in property dealings. It is essential for buyers and sellers to understand the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Muthamizhil street?

The current guideline value of Muthamizhil 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 for Muthamizhil street has remained at Rs 1,100 per sq.ft from 2023 to 2024, and it increased by 49% from Rs 737 per sq.ft in 2017 to Rs 1,100 per sq.ft in 2023.

What is the land classification of Muthamizhil street?

Muthamizhil street is classified as Residential Class II Type - I.

Where is the Gooduvancheri Sub Registrar Office located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Muthamizhil street?

Stamp duty for properties in Muthamizhil street is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000.