Guideline Value for Muthukumarappa Road

Muthukumarappa Road guideline value

The current guideline value of Muthukumarappa Road is Rs 9,900 per sq.ft, effective from 1 July 2024. This road is located in Saligramam village and falls under the Virugambakkam SRO. The land classification for this area is Commercial Special Type - I.

How the guideline value of Muthukumarappa Road has changed

The guideline value for Muthukumarappa Road has seen significant changes over the years. In the 2002 revision, the value was Rs 1,469 per sq.ft, which increased to Rs 1,604 per sq.ft in the 2003 revision. The value then rose to Rs 2,500 per sq.ft in 2007, and by the 2012 revision, it had decreased to Rs 9,000 per sq.ft. The 2017 revision marked a further increase to Rs 6,030 per sq.ft, followed by a rise to Rs 9,000 per sq.ft in 2023.

The most recent revision in 2024 set the guideline value at Rs 9,900 per sq.ft, reflecting a 10% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 574%.

Guideline values in Saligramam

In Saligramam, there are 333 streets under the Virugambakkam SRO with a 2024 guideline value ranging from Rs 2,750 to Rs 13,200 per sq.ft. Muthukumarappa Road's current value is above the median of Rs 4,400 per sq.ft.

• Muthukumaran Street: Rs 7,150 per sq.ft (2024)
• Muthulakshmi Street: Rs 4,400 per sq.ft (2024)
• Muthuramalinga Street: Rs 5,500 per sq.ft (2024)
• Nadigar Thilagam Shivaji Ganesan Nagar: Rs 3,300 per sq.ft (2024)
• Nagappan Street: Rs 3,300 per sq.ft (2024)
• Nagathamman Koil Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Muthukumarappa Road

For a 1,000 sq.ft plot at the current guideline value of Rs 9,900 per sq.ft, the total guideline value would be Rs 99,00,000. The stamp duty at 7% would amount to Rs 6,93,000, and the registration fee at 2% would be Rs 1,98,000, leading to a total of Rs 8,91,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Muthukumarappa Road?

The Sub Registrar Office that covers Muthukumarappa Road is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Saligramam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Muthukumarappa Road?

The current guideline value of Muthukumarappa Road is Rs 9,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 1,469 per sq.ft in 2002 to Rs 9,900 per sq.ft in 2024, reflecting an overall increase of 574% over this period.

What is the registration office for Muthukumarappa Road?

The registration office for Muthukumarappa Road is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is the stamp duty calculated for properties on Muthukumarappa Road?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 6,93,000.

What are the guideline values for other streets in Saligramam?

Other streets in Saligramam have varying guideline values, ranging from Rs 2,750 to Rs 13,200 per sq.ft, with Muthukumarappa Road's value being above the median of Rs 4,400 per sq.ft.