Guideline Value for Muthuramalinga Devar 1st Street

Muthuramalinga Devar 1st Street guideline value

The current guideline value of Muthuramalinga Devar 1st Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village and falls under the Ashok Nagar SRO. The land classification for this area is Residential Class V Type - I.

How the guideline value of Muthuramalinga Devar 1st Street has changed

The guideline value for Muthuramalinga Devar 1st Street has undergone several revisions over the years. In 2007, the guideline value was Rs 620 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012. However, it then decreased to Rs 1,340 per sq.ft in 2017, before rising to Rs 2,000 per sq.ft in 2023. The most recent revision in 2024 set the value at Rs 2,200 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 255%. Notably, there are no figures available for the years 2002 and 2003 for this street in the register.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO that carry a guideline value for 2024, ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value in this area is Rs 4,900 per sq.ft, placing Muthuramalinga Devar 1st Street's 2024 figure below that median.

• Muthuramalinga Devar Street: Rs 2,200 per sq.ft (2024)
• Muthurangam Pillai Street Block 78: Rs 3,300 per sq.ft (2024)
• Muthuvel Street: Rs 6,600 per sq.ft (2024)
• Muthumariyamman Koil Street: Rs 3,300 per sq.ft (2024)
• Muthu Mariamman Koil Street Block 78: Rs 3,300 per sq.ft (2024)
• Muthamiz Nagar (Bharathi Block): Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Muthuramalinga Devar 1st 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 amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to 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 detailed calculations.

Which Sub Registrar Office covers Muthuramalinga Devar 1st Street?

The Sub Registrar Office that covers Muthuramalinga Devar 1st Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kodambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is considered to ensure that the appropriate fees are collected. Buyers and sellers should be aware of these values to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Muthuramalinga Devar 1st Street?

The current guideline value of Muthuramalinga Devar 1st 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 seen several changes, starting from Rs 620 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024. The most significant increase occurred from 2012 to 2017, where the value decreased to Rs 1,340 per sq.ft before rising again.

What is the land classification for Muthuramalinga Devar 1st Street?

The land classification for Muthuramalinga Devar 1st Street is Residential Class V Type - I. This classification indicates the type of development permitted in the area.

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

For properties in Muthuramalinga Devar 1st Street, the stamp duty is calculated at 7% of the guideline value, while the registration fee is charged at 2%. These fees are based on the higher of the guideline value or the sale price.

Where is the Sub Registrar Office located for this street?

The Sub Registrar Office covering Muthuramalinga Devar 1st Street is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.