Guideline Value for Muthuraja 2nd street

Muthuraja 2nd street guideline value

The current guideline value of Muthuraja 2nd street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Thirumazhisai village under the Poonamallee SRO, classified as Residential Special Type - I.

How the guideline value of Muthuraja 2nd street has changed

The guideline value for Muthuraja 2nd street has undergone several revisions over the years. In 2003, the guideline value was Rs 140 per sq.ft, which increased to Rs 200 per sq.ft in 2007. The value saw a significant rise of 400% to reach Rs 1,000 per sq.ft in 2012. However, it then decreased by 33% to Rs 670 per sq.ft in 2017. The next revision in 2023 brought the value up to Rs 1,000 per sq.ft, and the most recent revision in 2024 set it at Rs 1,100 per sq.ft, reflecting a 10% increase from the previous year.

It should be noted that there is no figure available for Muthuraja 2nd street in the 2002 revision. Overall, from 2003 to 2024, the guideline value has increased by 686%.

Guideline values in Thirumazhisai

In Thirumazhisai, there are 86 streets under the Poonamallee SRO with a 2024 guideline value ranging from Rs 730 to Rs 3,500 per sq.ft. The median value for these streets is Rs 1,320 per sq.ft, placing Muthuraja 2nd street's 2024 figure below that median.

• Muthuraja 3rd street: Rs 1,100 per sq.ft (2024)
• Nallaiththontheru: Rs 1,100 per sq.ft (2024)
• Muthaal muthu raja 1st street: Rs 1,100 per sq.ft (2024)
• M.R.K Avenue: Rs 1,430 per sq.ft (2024)
• Nedunsalai mani's cafes Atheekenaru: Rs 1,100 per sq.ft (2024)
• New Blossom: Rs 1,800 per sq.ft (2024)

Stamp duty and registration fee for property in Muthuraja 2nd street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total cost for these fees to Rs 99,000. It is important to note that 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 information.

Which Sub Registrar Office covers Muthuraja 2nd street?

The Sub Registrar Office that covers Muthuraja 2nd street is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find your SRO for further assistance.

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

The guideline value is a crucial factor during the registration process when buying or selling property in Thirumazhisai. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that transactions are conducted fairly and transparently.

When you register a property, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This process helps maintain uniformity in property transactions across the region.

Frequently asked questions

What is the current guideline value of Muthuraja 2nd street?

The current guideline value of Muthuraja 2nd street is Rs 1,100 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 140 per sq.ft in 2003 to Rs 1,100 per sq.ft in 2024, reflecting an overall increase of 686% over the years.

What is the median guideline value in Thirumazhisai?

The median guideline value for the 86 streets in Thirumazhisai under the Poonamallee SRO is Rs 1,320 per sq.ft, with Muthuraja 2nd street's value being below this median.

What are the stamp duty and registration fees for properties in Muthuraja 2nd street?

For a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 and the registration fee would be Rs 22,000, totaling Rs 99,000 for these fees.

Which office handles the registration for Muthuraja 2nd street?

The Poonamallee Sub Registrar Office handles the registration for Muthuraja 2nd street, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.