Guideline Value for Muthiyalu Naidu

Muthiyalu Naidu guideline value

The current guideline value of Muthiyalu Naidu, located in Adayar village under the Adayar SRO, is Rs 6,100 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - I.

How the guideline value of Muthiyalu Naidu has changed

Over the years, the guideline value for Muthiyalu Naidu has seen several revisions. The 2012 revision set the value at Rs 5,500 per sq.ft, which was then reduced to Rs 3,685 per sq.ft in 2017. Following this, the value increased significantly to Rs 5,500 per sq.ft in 2023, and most recently, it has risen to Rs 6,100 per sq.ft in the 2024 revision. The register has no figure for this street in 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%, followed by a substantial increase of 49% from 2017 to 2023. The latest change from 2023 to 2024 shows an increase of 11%. Overall, from 2012 to 2024, the guideline value has increased by 11%.

Guideline values in Adayar

Adayar village has a total of 92 streets under the Adayar SRO, with guideline values ranging from Rs 3,300 to Rs 15,400 per sq.ft. The median value for these streets is Rs 6,100 per sq.ft, which is the same as the current guideline value for Muthiyalu Naidu.

• Muthiyalu Raja Street: Rs 5,500 per sq.ft (2024)
• Naidu 1st Cross Street: Rs 6,100 per sq.ft (2024)
• Murugappa Road: Rs 11,000 per sq.ft (2024)
• Naidu 1st Street: Rs 6,100 per sq.ft (2024)
• Naidu 2nd Cross Street: Rs 6,100 per sq.ft (2024)
• Naidu 2nd Street: Rs 6,100 per sq.ft (2024)

Stamp duty and registration fee for property in Muthiyalu Naidu

For a 1,000 sq.ft plot at the current guideline value of Rs 6,100 per sq.ft, the total guideline value amounts to Rs 61,00,000. The stamp duty at 7% would be Rs 4,27,000, and the registration fee at 2% would be Rs 1,22,000, bringing the total to Rs 5,49,000. Duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Muthiyalu Naidu?

The Muthiyalu Naidu area is covered by the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more information.

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

The guideline value is an essential factor in the registration process when buying or selling property in Adayar. It serves as a reference for calculating stamp duty and registration fees, ensuring that these charges are based on the property's assessed value.

When a property transaction occurs, the guideline value helps determine the official sale price for registration purposes. Buyers and sellers must be aware of this value to understand the financial implications of their transactions accurately.

Frequently asked questions

What is the current guideline value of Muthiyalu Naidu?

The current guideline value of Muthiyalu Naidu is Rs 6,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 5,500 per sq.ft in 2012 to Rs 3,685 per sq.ft in 2017, then to Rs 5,500 per sq.ft in 2023, and finally to Rs 6,100 per sq.ft in 2024.

What is the land classification of Muthiyalu Naidu?

Muthiyalu Naidu is classified as Residential Class II Type - I, indicating its suitability for residential development.

Where can I find the registration office for Muthiyalu Naidu?

The registration office for Muthiyalu Naidu is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

How is stamp duty calculated for properties in Muthiyalu Naidu?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, on a 1,000 sq.ft plot, the stamp duty would be Rs 4,27,000 based on the current guideline value.