Guideline Value for Muthu Krishna Avenu

Muthu Krishna Avenu guideline value

The current guideline value of Muthu Krishna Avenu is Rs 400 per sq.ft, effective from 1 July 2024. This street is located in Vedapalayam village, under the Uthiramerur SRO, classified as Residential Class I Type - I.

How the guideline value of Muthu Krishna Avenu has changed

In the 2012 revision, the guideline value was set at Rs 400 per sq.ft. This figure remained unchanged in the subsequent revisions of 2017 and 2023, where it was also Rs 400 per sq.ft. However, the 2017 revision saw a significant increase from the 2012 value, marking a 33% decrease from Rs 400 to Rs 268 per sq.ft. The guideline value then increased by 49% from Rs 268 in 2017 to Rs 400 in 2023, which remained constant through to the 2024 revision.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has remained stable at Rs 400 per sq.ft.

Guideline values in Vedapalayam

In Vedapalayam, there are 29 streets under the Uthiramerur SRO that carry a 2024 guideline value, ranging from Rs 200 to Rs 900 per sq.ft. The median guideline value for these streets is Rs 400 per sq.ft, which is equal to the current figure for Muthu Krishna Avenu.

• Narasima Nagar: Rs 400 per sq.ft (2024)
• M.G.R Nagar: Rs 400 per sq.ft (2024)
• New Selva Seeman Extension: Rs 600 per sq.ft (2024)
• Nukallamman Koil Street: Rs 600 per sq.ft (2024)
• Mannan Kodisai 3st Street: Rs 300 per sq.ft (2024)
• Mannan Kodisai 2st Street: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Muthu Krishna Avenu

For a 1,000 sq.ft plot at the current rate of Rs 400 per sq.ft, the guideline value amounts to Rs 4,00,000. The stamp duty at 7% would be Rs 28,000, and the registration fee at 2% would be Rs 8,000, totaling Rs 36,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Muthu Krishna Avenu?

The Muthu Krishna Avenu street falls under the Uthiramerur Sub Registrar Office, located at No.16, Sundara Vardharaja Perumal Koil Sannathi Street, Uthiramerur- 603406, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Vedapalayam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the region.

Frequently asked questions

What is the current guideline value of Muthu Krishna Avenu?

The current guideline value of Muthu Krishna Avenu is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 400 per sq.ft in the revisions of 2012, 2023, and 2024. It decreased to Rs 268 per sq.ft in 2017 but increased back to Rs 400 in 2023.

What is the land classification for Muthu Krishna Avenu?

Muthu Krishna Avenu is classified as Residential Class I Type - I, indicating its suitability for residential purposes.

Where can I find the Uthiramerur Sub Registrar Office?

The Uthiramerur Sub Registrar Office is located at No.16, Sundara Vardharaja Perumal Koil Sannathi Street, Uthiramerur- 603406, Chengalpattu registration zone.

How is stamp duty calculated for property in Muthu Krishna Avenu?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 400 per sq.ft, the total guideline value would be Rs 4,00,000, leading to a stamp duty of Rs 28,000.