Guideline Value for Muthuramalingam 2nd Lane

Muthuramalingam 2nd Lane guideline value

The current guideline value of Muthuramalingam 2nd Lane is Rs 3,080 per sq.ft, effective from 1 July 2024. This street is located in Ekkaduthangal village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Muthuramalingam 2nd Lane has changed

The guideline value for Muthuramalingam 2nd Lane has undergone several revisions over the years. In 2012, the value was Rs 2,800 per sq.ft, which then decreased to Rs 1,876 per sq.ft in 2017. Following this, the value increased significantly to Rs 2,800 per sq.ft in 2023, and then to Rs 3,080 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2017 to 2023, the value saw a substantial increase of 49%. The overall change from 2012 to 2024 is a 10% increase, reflecting the fluctuations in the guideline value over the years.

Guideline values in Ekkaduthangal

Ekkaduthangal has a total of 190 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 3,080 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 4,620 per sq.ft, placing Muthuramalingam 2nd Lane below this median.

• Muthuramalingam 1st Lane: Rs 3,080 per sq.ft (2024)
• Muthuramalinga Devar Street: Rs 3,520 per sq.ft (2024)
• Muvendar Street: Rs 3,520 per sq.ft (2024)
• Nakeeran Street: Rs 3,080 per sq.ft (2024)
• Nandhivarman Street: Rs 6,610 per sq.ft (2024)
• Munusamy Reddy Street: Rs 4,620 per sq.ft (2024)

Stamp duty and registration fee for property in Muthuramalingam 2nd Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 3,080 per sq.ft, the total guideline value would be Rs 30,80,000. The stamp duty at 7% would amount to Rs 2,15,600, and the registration fee at 2% would be Rs 61,600, making the total cost Rs 2,77,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Muthuramalingam 2nd Lane?

The Muthuramalingam 2nd Lane falls under the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more details.

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

When buying or selling property in Ekkaduthangal, the guideline value plays a critical role in determining the stamp duty and registration fees. These fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the correct amount is paid during the registration process.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly affects the financial aspects of property transactions. Understanding these values can help in planning and budgeting for the costs associated with property transfers in the area.

Frequently asked questions

What is the current guideline value of Muthuramalingam 2nd Lane?

The current guideline value of Muthuramalingam 2nd Lane is Rs 3,080 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,800 per sq.ft in 2012 to Rs 1,876 per sq.ft in 2017, then increased to Rs 2,800 per sq.ft in 2023, and finally to Rs 3,080 per sq.ft in 2024.

What is the median guideline value in Ekkaduthangal?

The median guideline value for streets in Ekkaduthangal is Rs 4,620 per sq.ft, with Muthuramalingam 2nd Lane's value being below this median.

Where is the Sub Registrar Office for Muthuramalingam 2nd Lane located?

The Sub Registrar Office covering Muthuramalingam 2nd Lane is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is the stamp duty calculated for properties in Muthuramalingam 2nd Lane?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 2,15,600.