Guideline Value for Muthuallamman Koil 2nd Cross Street

Muthuallamman Koil 2nd Cross Street guideline value

The current guideline value for Muthuallamman Koil 2nd Cross Street is Rs 1,200 per sq.ft, effective from 1 July 2024. This street is located in Venkatapuram village under the Kunrathur SRO, and it is classified as Residential Special Type - I.

How the guideline value of Muthuallamman Koil 2nd Cross Street has changed

Over the years, the guideline value for Muthuallamman Koil 2nd Cross Street has seen several revisions. The 2012 revision set the value at Rs 1,100 per sq.ft, which was then reduced to Rs 737 per sq.ft in the 2017 revision. Following this, the guideline value increased significantly to Rs 1,100 per sq.ft in the 2023 revision, and currently stands at Rs 1,200 per sq.ft as per the 2024 revision, marking a 9% increase from the previous year.

From the 2012 revision to the 2024 revision, the overall change is a modest increase of 9%. The increase from Rs 737 per sq.ft in 2017 to Rs 1,100 per sq.ft in 2023 represents a substantial rise of 49%. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Venkatapuram

In Venkatapuram, there are 68 streets under the Kunrathur SRO that carry a 2024 guideline value, with rates ranging from Rs 1,100 to Rs 1,200 per sq.ft. The median guideline value for these streets is Rs 1,200 per sq.ft, which is equal to the current value for Muthuallamman Koil 2nd Cross Street.

• Muthuallamman Koil 1st Street: Rs 1,200 per sq.ft (2024)
• Muthuallamman Koil 2nd Street: Rs 1,200 per sq.ft (2024)
• Muthuallamman Koil 1st Cross Street: Rs 1,200 per sq.ft (2024)
• Nadaipathai Street: Rs 1,200 per sq.ft (2024)
• Nadaipathai Street East: Rs 1,200 per sq.ft (2024)
• Nadaipathai Street Gangai Amman Koil Street: Rs 1,200 per sq.ft (2024)

Stamp duty and registration fee for property in Muthuallamman Koil 2nd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,200 per sq.ft, the total guideline value would be Rs 12,00,000. The stamp duty at 7% would amount to Rs 84,000, while the registration fee at 2% would be Rs 24,000, bringing the total to Rs 1,08,000. It is essential to note that the stamp duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Muthuallamman Koil 2nd Cross Street?

The Muthuallamman Koil 2nd Cross Street falls under the jurisdiction of the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value plays a crucial role when buying or selling property in Venkatapuram. It serves as a benchmark for determining the minimum value of a property for registration purposes. Buyers and sellers must be aware that the guideline value is used to calculate the applicable stamp duty and registration fees during the transaction.

When a property is registered, the stamp duty is calculated based on the higher value between the guideline value and the sale price. This ensures that the government receives the appropriate revenue from property transactions, reflecting the value of the property as determined by the guideline value register.

Frequently asked questions

What is the current guideline value of Muthuallamman Koil 2nd Cross Street?

The current guideline value of Muthuallamman Koil 2nd Cross Street is Rs 1,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,100 per sq.ft in 2012 to Rs 737 per sq.ft in 2017, then increased to Rs 1,100 per sq.ft in 2023, and currently stands at Rs 1,200 per sq.ft in 2024.

What is the land classification for Muthuallamman Koil 2nd Cross Street?

The land classification for Muthuallamman Koil 2nd Cross Street is Residential Special Type - I.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions in this area is charged at a rate of 7% on the guideline value or the sale price, whichever is higher.

Where is the Kunrathur Sub Registrar Office located?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069.