Guideline Value for Muthu Street

Muthu Street guideline value

The current guideline value of Muthu Street in Kottivakkam village is Rs 1,700 per sq.ft, effective from 1 July 2024. This street falls under the Adayar SRO and is classified as Residential Class V Type - III.

How the guideline value of Muthu Street has changed

The guideline value of Muthu Street has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 384 per sq.ft. This increased to Rs 457 per sq.ft in 2003, marking a change of +19%. The value further rose significantly to Rs 1,000 per sq.ft in 2007, an increase of +119%. In 2012, the value was Rs 1,500 per sq.ft, reflecting a decrease of -33% from the previous revision. The 2017 revision set the value at Rs 1,005 per sq.ft, which was an increase of +49% from 2012. The most recent revision in 2023 saw the value rise to Rs 1,500 per sq.ft, and the upcoming 2024 revision will increase it to Rs 1,700 per sq.ft, a change of +13%.

There are no figures available for the revisions in years other than those listed. Overall, from 2002 to 2024, the guideline value has increased by +343%.

Guideline values in Kottivakkam

In Kottivakkam, there are 284 streets under the Adayar SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 8,500 per sq.ft, with a median value of Rs 3,900 per sq.ft. Muthu Street's current guideline value is below this median.

• Muthalamman Koil Street: Rs 2,200 per sq.ft (2024)
• Muthalamman Koil 8th Street: Rs 1,700 per sq.ft (2024)
• Muthalamman Koil 7th Street: Rs 1,700 per sq.ft (2024)
• Muthalamman Koil 6th Street: Rs 1,700 per sq.ft (2024)
• Muthalamman Koil 5th Street: Rs 1,700 per sq.ft (2024)
• Muthalamman Koil 4th Street: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Muthu Street

For a 1,000 sq.ft plot at the current rate of Rs 1,700 per sq.ft, the guideline value is Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, making the total Rs 1,53,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Muthu Street?

The Sub Registrar Office covering Muthu Street is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property in Kottivakkam. It determines the minimum value on which stamp duty and registration fees are calculated. Buyers and sellers must be aware of this value to ensure compliance with local regulations during property transactions.

When a property is sold, the guideline value is used to assess the applicable taxes, ensuring that all transactions are transparent and adhere to the legal framework set by the government. This helps maintain a standardized approach to property valuation in the region.

Frequently asked questions

What is the current guideline value of Muthu Street?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 384 per sq.ft in 2002 to Rs 1,700 per sq.ft in 2024, reflecting an overall increase of +343%.

What is the classification of Muthu Street?

Muthu Street is classified as Residential Class V Type - III under the Adayar SRO.

Where can I find the registration office for Muthu Street?

The registration office for Muthu Street is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

How is the stamp duty calculated for properties on Muthu Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 17,00,000, the stamp duty would be Rs 1,19,000 at a rate of 7%.