Guideline Value for Muthuramalingam Devar Street

Muthuramalingam Devar Street guideline value

The current guideline value of Muthuramalingam Devar Street is Rs 1,800 per sq.ft, effective from 1 July 2024. This street is located in Selaiyur village, under the Selaiyur SRO, and is classified as Residential Class II Type - I.

How the guideline value of Muthuramalingam Devar Street has changed

The guideline value for Muthuramalingam Devar Street has seen several revisions over the years. The 2007 revision set the value at Rs 600 per sq.ft, which increased significantly to Rs 1,700 per sq.ft in 2012, marking a rise of 183%. However, from 2012 to 2017, the value decreased to Rs 1,139 per sq.ft, a decline of 33%. The value then increased again to Rs 1,700 per sq.ft in 2023, reflecting a 49% increase. Most recently, the 2024 revision has set the guideline value at Rs 1,800 per sq.ft, a 6% increase from the previous year.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 200%.

Guideline values in Selaiyur

In Selaiyur village, there are 478 streets under the Selaiyur SRO with a 2024 guideline value ranging from Rs 850 to Rs 6,500 per sq.ft. The median guideline value in this area is Rs 2,200 per sq.ft, which means that Muthuramalingam Devar Street's current value is below the median.

• Muthusamy Street: Rs 1,600 per sq.ft (2024)
• Muthumariamman Koil Street: Rs 1,100 per sq.ft (2024)
• Muthulinga Mudali Street: Rs 1,300 per sq.ft (2024)
• Nagammai Street: Rs 950 per sq.ft (2024)
• Nagammal Street: Rs 950 per sq.ft (2024)
• Muthamil Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Muthuramalingam Devar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,800 per sq.ft, the total guideline value would be Rs 18,00,000. The stamp duty at 7% would be Rs 1,26,000, and the registration fee at 2% would be Rs 36,000, bringing the total to Rs 1,62,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Muthuramalingam Devar Street?

The Sub Registrar Office that covers Muthuramalingam Devar Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Selaiyur, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as it affects the stamp duty and registration fees payable during the transaction.

When registering a property, the guideline value serves as a benchmark for calculating the applicable taxes and fees. It is essential for both parties to be aware of the current guideline value to ensure compliance with local regulations and to avoid any potential disputes during the registration process.

Frequently asked questions

What is the current guideline value of Muthuramalingam Devar Street?

The current guideline value of Muthuramalingam Devar Street is Rs 1,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 1,800 per sq.ft in 2024, reflecting an overall increase of 200% over the period.

What is the land classification of Muthuramalingam Devar Street?

Muthuramalingam Devar Street is classified as Residential Class II Type - I.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is the stamp duty calculated for properties in Muthuramalingam Devar Street?

The stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 18,00,000, the stamp duty at 7% would be Rs 1,26,000.