Guideline Value for Muthuallamman Koil 2nd Street

Muthuallamman Koil 2nd Street guideline value

The current guideline value of Muthuallamman Koil 2nd 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 is classified as Residential Special Type - I.

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

The guideline value for Muthuallamman Koil 2nd Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,100 per sq.ft, which then decreased to Rs 737 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 1,100 per sq.ft, and the most recent 2024 revision has raised it further to Rs 1,200 per sq.ft. The register has no figures for the years 2002, 2003, and 2007.

From the 2017 revision to the 2023 revision, there was a significant increase of 49%. The change from the 2023 to the 2024 revision represents a 9% increase. Overall, from 2012 to 2024, the guideline value has increased by 9%.

Guideline values in Venkatapuram

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

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

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

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

Which Sub Registrar Office covers Muthuallamman Koil 2nd Street?

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

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

The guideline value is a crucial factor during the registration process of property transactions in Venkatapuram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency and fairness in property dealings.

When buying or selling property, the guideline value helps in calculating stamp duty and registration fees, which are mandatory costs associated with the transaction. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

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

The current guideline value of Muthuallamman Koil 2nd 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 multiple times, with the most recent increase being from Rs 1,100 per sq.ft in 2023 to Rs 1,200 per sq.ft in 2024. Overall, the value has increased by 9% from 2012 to 2024.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 12,00,000, the stamp duty would be Rs 84,000 and the registration fee would be Rs 24,000, totaling Rs 1,08,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Which office handles registrations for Muthuallamman Koil 2nd Street?

The Kunrathur Sub Registrar Office handles registrations for Muthuallamman Koil 2nd Street, located at No.59, Road Street, Kundrathur, Chennai -600 069.

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

Muthuallamman Koil 2nd Street is classified as Residential Special Type - I, indicating its suitability for residential development under the guidelines set by local authorities.