Guideline Value for Muthulingam Street

Muthulingam Street guideline value

The current guideline value of Muthulingam Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Tambaram village and falls under the Tambaram Joint 1 SRO, classified as Residential Class I Type - II.

How the guideline value of Muthulingam Street has changed

The guideline value for Muthulingam Street has seen several revisions over the years. Starting from Rs 482 per sq.ft in 2002, the value increased to Rs 594 per sq.ft in 2003, marking a 23% rise. By 2007, the value further increased to Rs 750 per sq.ft, representing a 26% change. The 2012 revision saw the value at Rs 2,000 per sq.ft, which was a significant 167% increase from the previous revision. However, the value dropped to Rs 1,340 per sq.ft in 2017, reflecting a decrease of 33%.

In 2023, the guideline value rose to Rs 2,000 per sq.ft, and then to the current Rs 2,200 per sq.ft in 2024, marking a 10% increase. Overall, from 2002 to 2024, the guideline value has increased by 356%. The register has no figure for the years not mentioned in the revisions.

Guideline values in Tambaram

In Tambaram, there are 360 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 8,250 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, placing Muthulingam Street's 2024 figure below the median.

• Muthumariamman Nagar: Rs 1,650 per sq.ft (2024)
• Muthurangam Reddy Street: Rs 6,600 per sq.ft (2024)
• Muthurangam Street: Rs 6,600 per sq.ft (2024)
• Muthuranga Mudhali Street: Rs 6,600 per sq.ft (2024)
• Nadhu Street: Rs 1,320 per sq.ft (2024)
• Mullai Nagar (TNHB Colony): Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Muthulingam Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, making the total Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Muthulingam Street?

The Sub Registrar Office that covers Muthulingam Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration of property transactions in Tambaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives due revenue from property transfers.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that the fees are based on the guideline value or the sale price, whichever is higher, thus influencing the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Muthulingam Street?

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

How has the guideline value changed over the years?

The guideline value has increased from Rs 482 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, representing an overall increase of 356%.

What is the median guideline value in Tambaram?

The median guideline value for streets in Tambaram under the Tambaram Joint 1 SRO is Rs 3,300 per sq.ft, which is above the current value of Muthulingam Street.

What are the stamp duty and registration fees for properties in Muthulingam Street?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, making a total of Rs 1,98,000.

Where is the Sub Registrar Office for Muthulingam Street located?

The Sub Registrar Office for Muthulingam Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.