Guideline Value for Muthu Street

Muthu Street guideline value

The current guideline value of Muthu Street is Rs 8,700 per sq.ft. This street is located in Mylapore Part 1 village, under the Chennai Central Joint I SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Muthu Street has changed

The guideline value of Muthu Street has seen several revisions over the years. The register has no figure for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was set at Rs 8,000 per sq.ft. This increased to Rs 8,700 per sq.ft in the 2024 revision, marking a change of +9% from the previous year.

With the 2024 revision, Muthu Street's guideline value reflects the current rate as of 1 July 2024. This increase indicates a shift in the valuation of properties in this area, aligning with the latest updates from the Registration Department's guideline value register.

Guideline values in Mylapore Part 1

In Mylapore Part 1, there are a total of 333 streets under the Chennai Central Joint I SRO that carry a 2024 guideline value. The values range from Rs 4,400 to Rs 25,300 per sq.ft, with a median value of Rs 8,800 per sq.ft. Muthu Street's 2024 guideline value of Rs 8,700 per sq.ft is below this median.

• Muthu Lane: Rs 8,700 per sq.ft (2024)
• Muthiah 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)
• Nandanam Colony 1st Street: Rs 14,300 per sq.ft (2024)
• Nandanam Colony 2nd Cross Street: Rs 14,300 per sq.ft (2024)

Stamp duty and registration fee for property in Muthu Street

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, while the registration fee at 2% would be Rs 1,74,000. Together, these fees amount to Rs 7,83,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Muthu Street?

The Sub Registrar Office that covers Muthu Street is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. To find your specific SRO, you can visit find your SRO.

How the guideline value is used when you buy or sell in Mylapore Part 1

The guideline value is a crucial factor in the registration process when buying or selling property in Mylapore Part 1. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When a buyer or seller engages in a transaction, the guideline value serves as a benchmark for the transaction price. If the sale price is higher than the guideline value, the stamp duty is calculated on the sale price instead. This system helps maintain transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Muthu Street?

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

How has the guideline value changed over the years?

The guideline value of Muthu Street has changed from Rs 8,000 per sq.ft in 2023 to Rs 8,700 per sq.ft in 2024, representing a +9% increase. The register has no figures for the years 2002, 2003, 2007, 2012, and 2017.

What are the registration fees for properties in Muthu Street?

The registration fees for properties in Muthu Street include a stamp duty of 7% and a registration fee of 2%. For a property valued at Rs 87,00,000, the total fees would amount to Rs 7,83,000.

Where can I find the Sub Registrar Office for Muthu Street?

The Sub Registrar Office for Muthu Street is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can also find your specific SRO through the provided link.

What is the land classification for Muthu Street?

The land classification for Muthu Street is Residential Class I Type - III, which indicates the zoning and permissible uses for properties in this area.