Guideline Value for Muththalamman Koil Street

Muththalamman Koil Street guideline value

The current guideline value of Muththalamman Koil Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village under the Tambaram Joint 1 SRO and is classified as Residential Class I Type - II.

How the guideline value of Muththalamman Koil Street has changed

The guideline value for Muththalamman Koil Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which was then reduced to Rs 1,675 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 2,500 per sq.ft in 2023, and then to Rs 2,750 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The changes between revisions include a 49% increase from 2017 to 2023 and a 33% decrease from 2012 to 2017. The register does not provide figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Chitlapakkam

Chitlapakkam village has a total of 548 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft in 2024. The median guideline value in this village is Rs 1,650 per sq.ft, placing Muththalamman Koil Street's 2024 figure above that median.

• Muthulakshmi Nagar: Rs 3,850 per sq.ft (2024)
• muthulakshmi Nagar Ext: Rs 2,750 per sq.ft (2024)
• Muthulakshmi Nagar Sarathambal street: Rs 3,850 per sq.ft (2024)
• Muthulakshmi Street: Rs 2,750 per sq.ft (2024)
• Muthamil Street: Rs 1,650 per sq.ft (2024)
• Murugesan Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Muththalamman Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000. Together, the total cost for stamp duty and registration would be Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Muththalamman Koil Street?

The Sub Registrar Office that covers Muththalamman Koil Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is an essential factor during property registration in Chitlapakkam. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps in assessing the fair value of the property. It is crucial for both buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the transaction process.

Frequently asked questions

What is the current guideline value of Muththalamman Koil Street?

The current guideline value of Muththalamman Koil Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then increased to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,750 per sq.ft in 2024.

What is the land classification for Muththalamman Koil Street?

Muththalamman Koil Street is classified as Residential Class I Type - II.

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

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500, and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Where is the Sub Registrar Office located for Muththalamman Koil Street?

The Tambaram Joint 1 Sub Registrar Office is located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone.