Guideline Value for Muthu Lane

Muthu Lane guideline value

The current guideline value of Muthu Lane is Rs 8,700 per sq.ft, effective from 1 July 2024. This street is located in Mylapore Part 2 village under the Chennai Central Joint I SRO, with a land classification of Residential Class I Type - III.

How the guideline value of Muthu Lane has changed

The guideline value for Muthu Lane has undergone several revisions over the years. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was Rs 8,000 per sq.ft, which increased to Rs 8,700 per sq.ft in the 2024 revision, marking a change of +9%.

Prior to the 2023 revision, there are no figures available for Muthu Lane in the register. The 2024 figure of Rs 8,700 per sq.ft is below the median value of Rs 8,800 per sq.ft for the 332 streets in Mylapore Part 2 under the Chennai Central Joint I SRO.

Guideline values in Mylapore Part 2

Mylapore Part 2 has a range of guideline values for its streets, with figures from Rs 4,400 to Rs 25,300 per sq.ft. The 2024 guideline value for Muthu Lane is Rs 8,700 per sq.ft, which is below the median for the area.

• Muthiah Street: Rs 8,700 per sq.ft (2024)
• Muthu Street: Rs 8,700 per sq.ft (2024)
• Muthaiah Pillai Street: Rs 8,700 per sq.ft (2024)
• Muthaiah Mudali Street: Rs 8,700 per sq.ft (2024)
• Nallan Street: Rs 8,700 per sq.ft (2024)
• Nandanam Colony 1st Cross Street: Rs 14,300 per sq.ft (2024)

Stamp duty and registration fee for property in Muthu Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 8,700 per sq.ft, the total guideline value amounts to Rs 87,00,000. The stamp duty at 7% would be Rs 6,09,000, and the registration fee at 2% would be Rs 1,74,000, totaling Rs 7,83,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Muthu Lane?

The Sub Registrar Office that covers Muthu Lane is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Mylapore Part 2

The guideline value is a crucial factor during the registration of property transactions in Mylapore Part 2. It serves as a reference point for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

Frequently asked questions

What is the current guideline value of Muthu Lane?

The current guideline value of Muthu Lane is Rs 8,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Muthu Lane was Rs 8,000 per sq.ft in 2023 and increased to Rs 8,700 per sq.ft in 2024, which is a change of +9%. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What is the median guideline value for streets in Mylapore Part 2?

The median guideline value for the 332 streets in Mylapore Part 2 is Rs 8,800 per sq.ft. Muthu Lane's 2024 figure is below this median.

What are the stamp duty and registration fees for property in Muthu Lane?

For a 1,000 sq.ft plot at the guideline value of Rs 8,700 per sq.ft, the total guideline value is Rs 87,00,000. The stamp duty would be Rs 6,09,000 and the registration fee would be Rs 1,74,000, totaling Rs 7,83,000.

Where is the Sub Registrar Office for Muthu Lane located?

The Sub Registrar Office for Muthu Lane is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. This office is part of the Chennai Central Joint I SRO.