Guideline Value for Muthiah Chetty Street

Muthiah Chetty Street guideline value

The current guideline value of Muthiah Chetty Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village, under the Royapuram SRO, and is classified as Residential Class I Type - I.

How the guideline value of Muthiah Chetty Street has changed

The guideline value for Muthiah Chetty Street has undergone several revisions over the years. The most recent revision in 2024 set the guideline value at Rs 2,200 per sq.ft, which is an increase of 10% from the 2012 revision figure of Rs 2,000 per sq.ft. The register has no figures for the years 2023, 2017, 2007, 2003, and 2002.

From 2012 to 2024, the increase of 10% reflects the only change noted in the guideline value for this street. The previous revision in 2012 was the last recorded figure before the current one, and there are no figures available for the intervening years.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median guideline value for these streets is Rs 1,600 per sq.ft, placing Muthiah Chetty Street's 2024 figure above this median.

• Muthiah Mudali Street: Rs 2,200 per sq.ft (2024)
• Muthiah Mudali Street 1st Lane: Rs 2,200 per sq.ft (2024)
• Muthappa Mudali Street: Rs 2,200 per sq.ft (2024)
• Muthiyalu Maistry Street: Rs 1,600 per sq.ft (2024)
• Murugesan Street: Rs 2,200 per sq.ft (2024)
• Nagooram Thottam 1st Cross Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Muthiah Chetty Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, making the total fees together 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 more details on calculating your fees, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Muthiah Chetty Street?

The Sub Registrar Office that covers Muthiah Chetty Street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more information.

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

The guideline value is an essential factor in property transactions, as it determines the minimum value at which a property can be registered. When buying or selling property in Tondaiarpet, the guideline value helps in calculating the stamp duty and registration fees that are payable at the time of registration.

It is crucial for buyers and sellers to be aware of the current guideline value to ensure compliance with legal requirements during the registration process. The guideline value serves as a benchmark for the transaction and is used by the registration department to assess the applicable fees.

Frequently asked questions

What is the current guideline value of Muthiah Chetty Street?

The current guideline value of Muthiah Chetty 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 increased from Rs 2,000 per sq.ft in 2012 to Rs 2,200 per sq.ft in 2024, reflecting a 10% increase. There are no figures available for the years 2023, 2017, 2007, 2003, and 2002.

What is the classification of Muthiah Chetty Street?

Muthiah Chetty Street is classified as Residential Class I Type - I, indicating its designation for residential purposes within the area.

Where can I find the Sub Registrar Office for Muthiah Chetty Street?

The Sub Registrar Office for Muthiah Chetty Street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

How is the stamp duty calculated for properties in Tondaiarpet?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 at a rate of 7%.