Guideline Value for Muthuramalinga Street

Muthuramalinga Street guideline value

The current guideline value of Muthuramalinga Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Saligramam village, under the Virugambakkam Sub Registrar Office (SRO), and is classified as Residential Special Type - III.

How the guideline value of Muthuramalinga Street has changed

The guideline value for Muthuramalinga Street has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 344 per sq.ft. This increased significantly to Rs 376 per sq.ft in the 2003 revision, marking a 9% change. Following that, the value rose dramatically to Rs 2,050 per sq.ft in 2007, reflecting a 445% increase. The 2012 revision saw a decrease to Rs 5,000 per sq.ft, a drop of 33%. However, this was followed by a rise to Rs 3,350 per sq.ft in 2017, which was a 49% increase. The 2023 revision set the value at Rs 5,000 per sq.ft, and the most recent 2024 revision has now established it at Rs 5,500 per sq.ft, a 10% increase.

Overall, from the 2002 revision to the 2024 revision, the guideline value has increased by 1,499%. There are no revisions for years other than those listed above for this street.

Guideline values in Saligramam

In Saligramam, there are 333 streets under the Virugambakkam SRO that carry a 2024 guideline value, ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, positioning Muthuramalinga Street's 2024 figure above this median.

• Muthulakshmi Street: Rs 4,400 per sq.ft (2024)
• Nadigar Thilagam Shivaji Ganesan Nagar: Rs 3,300 per sq.ft (2024)
• Muthukumarappa Road: Rs 9,900 per sq.ft (2024)
• Muthukumaran Street: Rs 7,150 per sq.ft (2024)
• Nagappan Street: Rs 3,300 per sq.ft (2024)
• Nagathamman Koil Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Muthuramalinga Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total to Rs 4,95,000. 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 further calculations.

Which Sub Registrar Office covers Muthuramalinga Street?

The Muthuramalinga Street falls under the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a critical factor when registering property transactions in Saligramam. It serves as a reference for determining the applicable stamp duty and registration fees, ensuring that the government receives the correct revenue from property sales.

When buying or selling property, the guideline value helps in establishing a baseline for the transaction price. The fees are calculated based on this value or the sale price, whichever is higher, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Muthuramalinga Street?

The current guideline value of Muthuramalinga Street is Rs 5,500 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 344 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, showing an overall increase of 1,499% over the years.

What is the land classification for Muthuramalinga Street?

Muthuramalinga Street is classified as Residential Special Type - III under the Virugambakkam SRO.

What are the stamp duty and registration fees for Muthuramalinga Street?

The stamp duty is 7% and the registration fee is 2% of the guideline value. For a 1,000 sq.ft plot, the total fees would amount to Rs 4,95,000.

Where is the Sub Registrar Office for Muthuramalinga Street located?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.