Guideline Value for Muthukumaran Street

Muthukumaran Street guideline value

The current guideline value of Muthukumaran Street is Rs 1,550 per sq.ft, effective from 1 July 2024. This street is located in Thirunageswaram village and falls under the Kunrathur SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of Muthukumaran Street has changed

Over the years, the guideline value of Muthukumaran Street has seen several revisions. The 2012 revision set the value at Rs 1,400 per sq.ft, which was later reduced to Rs 938 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 1,400 per sq.ft, and the latest 2024 revision has raised it further to Rs 1,550 per sq.ft. Notably, there are no figures available for the revisions in 2002, 2003, and 2007.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, it increased significantly by 49%. The overall change from 2012 to 2024 shows an increase of 11%, with the most recent change from 2023 to 2024 reflecting an increase of 11% as well.

Guideline values in Thirunageswaram

In Thirunageswaram village, there are 105 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 800 to Rs 2,000 per sq.ft. The median value for these streets is Rs 1,550 per sq.ft, which is the same as the guideline value for Muthukumaran Street.

• Navidhar Street: Rs 1,550 per sq.ft (2024)
• Mogalingam Nagar T.N.Sammandham Nagar: Rs 1,550 per sq.ft (2024)
• Mogalingam Nagar Rose Ramalingam Street: Rs 1,550 per sq.ft (2024)
• Mogalingam Nagar Nainiappan Street: Rs 1,550 per sq.ft (2024)
• Mogalingam Nagar Muthu Street: Rs 1,550 per sq.ft (2024)
• Mogalingam Nagar Kamokoti Street: Rs 1,550 per sq.ft (2024)

Stamp duty and registration fee for property in Muthukumaran Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,550 per sq.ft, the total guideline value would be Rs 15,50,000. The stamp duty at 7% would amount to Rs 1,08,500, and the registration fee at 2% would be Rs 31,000, bringing the total to Rs 1,39,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Muthukumaran Street?

The Sub Registrar Office that covers Muthukumaran Street is 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 Thirunageswaram

The guideline value is a crucial factor when buying or selling property in Thirunageswaram. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with registration requirements.

When a property transaction occurs, the guideline value is used to compute the stamp duty and registration fees. This ensures that both parties are aware of the financial implications associated with the sale or purchase of property in the area.

Frequently asked questions

What is the current guideline value of Muthukumaran Street?

The current guideline value of Muthukumaran Street is Rs 1,550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,400 per sq.ft in 2012 to Rs 938 per sq.ft in 2017, then back to Rs 1,400 per sq.ft in 2023, and finally to Rs 1,550 per sq.ft in 2024.

What is the land classification for Muthukumaran Street?

The land classification for Muthukumaran Street is Residential Special Type - II.

Where can I find the registration office for Muthukumaran Street?

The registration office for Muthukumaran Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is stamp duty calculated for properties in Muthukumaran Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 15,50,000, the stamp duty at 7% would be Rs 1,08,500.