Guideline Value for Muthiyalu Maistry Street

Muthiyalu Maistry Street guideline value

The current guideline value of Muthiyalu Maistry Street is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village under the Royapuram SRO, classified as Residential Class I Type - II.

How the guideline value of Muthiyalu Maistry Street has changed

The guideline value for Muthiyalu Maistry Street has seen several revisions over the years. In 2007, the guideline value was Rs 800 per sq.ft. This increased to Rs 1,500 per sq.ft in the 2023 revision, marking an increase of 88%. The most recent revision in 2024 set the guideline value at Rs 1,600 per sq.ft, reflecting a 7% increase from the previous year.

It is important to note that there are no figures available for this street in the revisions of 2012, 2017, 2002, and 2003. Overall, from the 2007 revision to the 2024 revision, the guideline value has doubled, showing an increase of 100%.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO, with guideline values ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median guideline value in this area is Rs 1,600 per sq.ft, which is equal to the current guideline value of Muthiyalu Maistry Street.

• Muthiah Mudali Street 1st Lane: Rs 2,200 per sq.ft (2024)
• Muthiah Mudali Street: Rs 2,200 per sq.ft (2024)
• Muthiah Chetty Street: Rs 2,200 per sq.ft (2024)
• Muthappa Mudali Street: Rs 2,200 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 Muthiyalu Maistry Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total fees to Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Muthiyalu Maistry Street?

The Sub Registrar Office that covers Muthiyalu Maistry Street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. For more details, you can find your SRO.

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

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

When buying or selling property, the guideline value is compared to the sale price. The higher of the two values is used to calculate the stamp duty and registration fees, ensuring that all transactions are fairly assessed according to the established guidelines.

Frequently asked questions

What is the current guideline value of Muthiyalu Maistry Street?

The current guideline value of Muthiyalu Maistry Street is Rs 1,600 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 800 per sq.ft to Rs 1,600 per sq.ft in 2024, marking a total increase of 100% over this period.

What are the other streets with guideline values in Tondaiarpet?

Other streets in Tondaiarpet include Muthiah Mudali Street 1st Lane, Muthiah Mudali Street, Muthiah Chetty Street, Muthappa Mudali Street, Murugesan Street, and Nagooram Thottam 1st Cross Street, with values ranging from Rs 1,300 to Rs 2,200 per sq.ft.

What is the stamp duty rate for property transactions?

The stamp duty for property transactions in Tondaiarpet is charged at a rate of 7% on the guideline value or the sale price, whichever is higher.

Where can I find my Sub Registrar Office?

You can find your Sub Registrar Office by visiting the Royapuram Sub Registrar Office located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.