Guideline Value for Muthu Kumaran Road

Muthu Kumaran Road guideline value

The current guideline value of Muthu Kumaran Road is Rs 1,650 per sq.ft, effective from 1 July 2024. This road is located in Madipakkam-1 village under the Velacheri SRO and is classified as Residential Class II Type - II.

How the guideline value of Muthu Kumaran Road has changed

The guideline value register has no figures for Muthu Kumaran Road for the years 2002, 2003, 2007, 2012, 2017, and 2023. The most recent revision, in 2024, sets the guideline value at Rs 1,650 per sq.ft.

Since there are no figures available for the previous years, the only current value is from the 2024 revision. There have been no changes reported between the revisions above.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO with guideline values ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value in this area is Rs 2,750 per sq.ft, placing Muthu Kumaran Road's 2024 figure below that median.

• Muthu Mohammed Street: Rs 1,650 per sq.ft (2024)
• Muthamiz Nagar Layout: Rs 2,200 per sq.ft (2024)
• Mylai Kabaleeswarar Colony layout: Rs 3,850 per sq.ft (2024)
• Mylai Kabaleeswarar Colony layout 1st Street: Rs 3,850 per sq.ft (2024)
• Mylai Kabaleeswarar Colony layout 2nd Street: Rs 3,850 per sq.ft (2024)
• Mylai Karpagambal Nagar 1st Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Muthu Kumaran Road

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. Note that the duty is charged on the guideline value or the sale price, whichever is higher.

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

Which Sub Registrar Office covers Muthu Kumaran Road?

The Sub Registrar Office that covers Muthu Kumaran Road is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value is an important factor in property transactions, as it determines the minimum price at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with local regulations.

When a property is registered, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Muthu Kumaran Road?

The current guideline value of Muthu Kumaran Road is Rs 1,650 per sq.ft, effective from 1 July 2024.

Which Sub Registrar Office is responsible for Muthu Kumaran Road?

The Velacheri Sub Registrar Office is responsible for Muthu Kumaran Road, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is stamp duty calculated for properties on Muthu Kumaran Road?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500.

What are the guideline values for other streets in Madipakkam-1?

Other streets in Madipakkam-1 have varying guideline values, ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median value for the area is Rs 2,750 per sq.ft.

Are there any previous guideline value figures for Muthu Kumaran Road?

The guideline value register has no figures for Muthu Kumaran Road for the years 2002, 2003, 2007, 2012, 2017, and 2023. The only current figure is from the 2024 revision.