Guideline Value for Muthiyal Reddy Street 2nd Lane

Muthiyal Reddy Street 2nd Lane guideline value

The current guideline value of Muthiyal Reddy Street 2nd Lane is Rs 3,900 per sq.ft. This street is located in Adambakkam village, under the Alandur SRO, and is classified as Residential Class I Type - III.

How the guideline value of Muthiyal Reddy Street 2nd Lane has changed

The guideline value for Muthiyal Reddy Street 2nd Lane has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 331 per sq.ft. In 2003, it increased to Rs 378 per sq.ft, marking a 14% rise. The 2007 revision saw a significant jump to Rs 900 per sq.ft, which was an increase of 138%. The value then rose to Rs 3,500 per sq.ft in 2012, reflecting a 289% increase from the previous revision. However, it decreased to Rs 2,345 per sq.ft in 2017, a decline of 33%. The value then increased to Rs 3,500 per sq.ft in 2023, and finally, in the 2024 revision, it reached Rs 3,900 per sq.ft, an increase of 11% from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1,078%. There are no figures available for the revisions in years not mentioned in the provided data.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO with a 2024 guideline value ranging from Rs 2,800 to Rs 11,000 per sq.ft. The median value is Rs 3,900 per sq.ft, which is equal to the guideline value of Muthiyal Reddy Street 2nd Lane.

• Muthiyal Reddy Street: Rs 3,900 per sq.ft (2024)
• Muthiyal Reddy Street First Lane: Rs 3,900 per sq.ft (2024)
• Muthiyal Reddy 1st Street: Rs 3,900 per sq.ft (2024)
• Muthaiyal Nagar: Rs 3,900 per sq.ft (2024)
• Murugan Nagar/Street: Rs 3,900 per sq.ft (2024)
• Nanganallur Co-operative Housing Society Colony 10th Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Muthiyal Reddy Street 2nd Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value amounts to Rs 39,00,000. The stamp duty, charged at 7%, would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, totaling Rs 3,51,000. 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 Muthiyal Reddy Street 2nd Lane?

The Sub Registrar Office that covers Muthiyal Reddy Street 2nd Lane is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Adambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, it is essential to consider the guideline value, as it influences the overall costs involved in the transaction. Buyers should ensure that the sale price is at least equal to the guideline value to avoid any legal complications during registration.

Frequently asked questions

What is the current guideline value of Muthiyal Reddy Street 2nd Lane?

The current guideline value of Muthiyal Reddy Street 2nd Lane is Rs 3,900 per sq.ft as of the 2024 revision.

How has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 331 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, representing an overall increase of 1,078%.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 39,00,000, the stamp duty would be Rs 2,73,000 and the registration fee would be Rs 78,000, totaling Rs 3,51,000.

Which office handles registrations for Muthiyal Reddy Street 2nd Lane?

The Alandur Sub Registrar Office handles registrations for Muthiyal Reddy Street 2nd Lane, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What is the land classification of Muthiyal Reddy Street 2nd Lane?

Muthiyal Reddy Street 2nd Lane is classified as Residential Class I Type - III.