Guideline Value for Muthu Krishnan Street

Muthu Krishnan Street guideline value

The current guideline value of Muthu Krishnan Street is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Muthiyalpet village under the Sowcarpet Sub Registrar Office (SRO) and is classified as Residential Special Type - III.

How the guideline value of Muthu Krishnan Street has changed

The guideline value for Muthu Krishnan Street has seen several revisions over the years. In 2003, the value was Rs 1,080 per sq.ft. This increased to Rs 1,600 per sq.ft in 2007, marking a significant rise of 48%. The value then jumped to Rs 4,500 per sq.ft in 2012, an increase of 181%. However, it dropped to Rs 3,015 per sq.ft in 2017, a decrease of 33%. The guideline value further increased to Rs 4,500 per sq.ft in 2023, and finally to Rs 4,900 per sq.ft in 2024, reflecting a rise of 9% from the previous year. The register has no figure for the year 2002 for this street.

Guideline values in Muthiyalpet

In Muthiyalpet, there are 357 streets under the Sowcarpet SRO, with a 2024 guideline value range from Rs 3,800 to Rs 16,500 per sq.ft. The median value is Rs 4,400 per sq.ft, placing Muthu Krishnan Street's 2024 figure above this median.

• Muthu Naicken Street: Rs 6,000 per sq.ft (2024)
• Muthusha Maistry Street: Rs 3,800 per sq.ft (2024)
• Nagamani Garden Street: Rs 4,400 per sq.ft (2024)
• Nainiappa Maistry Lane: Rs 4,400 per sq.ft (2024)
• Nainiappa Maistry Street: Rs 6,000 per sq.ft (2024)
• Nainiappa Mudali Street: Rs 6,000 per sq.ft (2024)

Stamp duty and registration fee for property in Muthu Krishnan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value would be Rs 49,00,000. The stamp duty at 7% would amount to Rs 3,43,000, while the registration fee at 2% would be Rs 98,000. Together, the total cost for stamp duty and registration fees would be Rs 4,41,000. Please note that 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 Muthu Krishnan Street?

The Sub Registrar Office that covers Muthu Krishnan Street is the Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01. You can find your SRO for more information.

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

The guideline value is an important factor during the registration of property transactions in Muthiyalpet. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in property dealings.

When buying or selling a property, the guideline value helps in calculating the stamp duty and registration fees, which are essential costs associated with the transaction. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Muthu Krishnan Street?

The current guideline value of Muthu Krishnan Street is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,080 per sq.ft in 2003 to Rs 4,900 per sq.ft in 2024, with various increases and a decrease in between. The most recent increase was 9% from 2023 to 2024.

What is the median guideline value in Muthiyalpet?

The median guideline value in Muthiyalpet is Rs 4,400 per sq.ft, with Muthu Krishnan Street's value of Rs 4,900 per sq.ft sitting above this median.

Where is the Sub Registrar Office for Muthu Krishnan Street located?

The Sub Registrar Office for Muthu Krishnan Street is located at No.11, Davidson Street, Sowcarpet, Chennai-01.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the guideline value of Rs 4,900 per sq.ft incurs a total cost of Rs 4,41,000 for these fees.