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 Naravarikuppam village and falls under the jurisdiction of the Redhills SRO. The land classification for this area is Residential Special Type - I.

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 2002, the value was Rs 4,440 per sq.ft. This figure was reduced to Rs 451 per sq.ft in 2003. The value then increased to Rs 600 per sq.ft in 2007, followed by a significant rise to Rs 2,000 per sq.ft in 2012. The 2017 revision saw a decrease to Rs 1,340 per sq.ft, which was then adjusted to Rs 2,000 per sq.ft in 2023. The most recent revision in 2024 set the guideline value at Rs 2,200 per sq.ft.

Between the revisions, there have been various percentage changes. From 2017 to 2023, the value increased by 49%. The 2012 to 2017 period saw a decrease of 33%, while the 2007 to 2012 period experienced a substantial increase of 233%. From 2003 to 2007, the value rose by 33%. However, from 2002 to 2024, there has been an overall decrease of 50%.

Guideline values in Naravarikuppam

Naravarikuppam village has a total of 112 streets under the Redhills SRO, with guideline values for 2024 ranging from Rs 1,320 to Rs 3,300 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, placing Muthuramalinga Devar Street's 2024 guideline value above the median.

• Muthusha Hussain Street: Rs 1,320 per sq.ft (2024)
• Nara Lane: Rs 1,320 per sq.ft (2024)
• Murthuja Hussian Sahib Street: Rs 1,320 per sq.ft (2024)
• Mugamathu Nayakkar Street: Rs 1,320 per sq.ft (2024)
• Natesan Street: Rs 1,870 per sq.ft (2024)
• Moulana Abdul Kalam Street: Rs 1,650 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 guideline value of Rs 2,200 per sq.ft, the total 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, resulting in a total of Rs 1,98,000. 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 more details.

Which Sub Registrar Office covers Muthuramalinga Devar Street?

The Sub Registrar Office that covers Muthuramalinga Devar Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor when it comes to property transactions in Naravarikuppam. It serves as the basis for calculating the stamp duty and registration fees that buyers must pay during the registration process. This ensures that the transaction is recorded accurately and in compliance with local regulations.

When selling a property, the guideline value can influence the selling price, as it provides a benchmark for both buyers and sellers. It is essential for both parties to be aware of the guideline value to ensure a smooth transaction.

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 4,440 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, with various increases and decreases in between. Notable changes include a rise from Rs 1,340 per sq.ft in 2017 to Rs 2,000 per sq.ft in 2023.

What is the land classification for Muthuramalinga Devar Street?

The land classification for Muthuramalinga Devar Street is Residential Special Type - I.

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

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Muthuramalinga Devar Street located?

The Sub Registrar Office covering Muthuramalinga Devar Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.