Guideline Value for Muthirulandi Street

Muthirulandi Street guideline value

The current guideline value of Muthirulandi Street is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Perungalathur village under the Padappai SRO, classified as Residential Class III Type - I.

How the guideline value of Muthirulandi Street has changed

The guideline value of Muthirulandi Street has seen several revisions over the years. The 2007 revision set the value at Rs 200 per sq.ft, which increased significantly to Rs 1,800 per sq.ft in 2012, marking an increase of 800%. However, in 2017, the value dropped to Rs 1,206 per sq.ft, reflecting a decrease of 33%. The 2023 revision raised the value to Rs 1,800 per sq.ft, and the most recent 2024 revision increased it further to Rs 1,980 per sq.ft, a rise of 10% from the previous year.

From the 2017 revision to the 2023 revision, the guideline value increased by 49%. Overall, from 2007 to 2024, the guideline value has increased by 890%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 5,500 per sq.ft, with a median value of Rs 2,310 per sq.ft. Muthirulandi Street's 2024 guideline value is below this median.

• Muthuvelar Street: Rs 1,980 per sq.ft (2024)
• Nadesan Nagar: Rs 3,960 per sq.ft (2024)
• Nammaalvar Street: Rs 1,980 per sq.ft (2024)
• Mudichur Road: Rs 3,960 per sq.ft (2024)
• M.R.Rajamanikkam Street: Rs 1,650 per sq.ft (2024)
• MRK Nagar: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Muthirulandi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, totaling Rs 1,78,200. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Muthirulandi Street?

The Sub Registrar Office that covers Muthirulandi Street is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in determining the registration fees and stamp duty when buying or selling property in Perungalathur. It serves as a benchmark for the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from transactions.

When a property is sold, the buyer and seller must consider the guideline value to calculate the applicable fees. This value helps in ensuring transparency and fairness in property transactions, as it reflects the official assessment of property values in the area.

Frequently asked questions

What is the current guideline value of Muthirulandi Street?

The current guideline value of Muthirulandi Street is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 200 per sq.ft in 2007 to Rs 1,980 per sq.ft in 2024. The highest increase occurred between 2007 and 2012, where it rose by 800%.

What are the stamp duty and registration fees for properties in Muthirulandi Street?

For a plot of 1,000 sq.ft, the total guideline value is Rs 19,80,000. The stamp duty would be Rs 1,38,600, and the registration fee would be Rs 39,600, totaling Rs 1,78,200.

Which office handles property registrations for Muthirulandi Street?

The Padappai Sub Registrar Office handles property registrations for Muthirulandi Street, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

What is the significance of the guideline value in property transactions?

The guideline value serves as a benchmark for determining registration fees and stamp duty in property transactions. It ensures that the government receives appropriate revenue and maintains transparency in the property market.