Guideline Value for Muthuramalinga Devar Street

Muthuramalinga Devar Street guideline value

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

How the guideline value of Muthuramalinga Devar Street has changed

The guideline value for Muthuramalinga Devar Street has undergone several revisions over the years. In 2007, the 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. The most recent revisions show that the value rose to Rs 2,000 per sq.ft in 2023 and is now Rs 2,200 per sq.ft in 2024, 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 in the register for this street.

Guideline values in Kodambakkam

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

• Muthuramalinga Devar 1st 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 Street

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value amounts to 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, 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 our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Muthuramalinga Devar Street?

The Sub Registrar Office that covers Muthuramalinga Devar Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more details.

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

The guideline value is a crucial factor in the property registration process in Kodambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during a property transaction.

When buying or selling property, the guideline value ensures that the transaction is recorded accurately, reflecting the official value set by the government. This helps in maintaining transparency and legality in property dealings.

Frequently asked questions

What is the current guideline value of Muthuramalinga Devar Street?

The current guideline value of Muthuramalinga Devar 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 changed from Rs 620 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 255% over the years.

What is the registration office for Muthuramalinga Devar Street?

The registration office for Muthuramalinga Devar Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated for properties in Kodambakkam?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 22,00,000, the stamp duty would be 7% of that amount.

What are the other streets in Kodambakkam with their guideline values?

Other streets in Kodambakkam include Muthuramalinga Devar 1st Street at Rs 2,200 per sq.ft, Muthurangam Pillai Street Block 78 at Rs 3,300 per sq.ft, and Muthuvel Street at Rs 6,600 per sq.ft, among others.