Guideline Value for Muthurangam Reddy Street

Muthurangam Reddy Street guideline value

The current guideline value of Muthurangam Reddy Street is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Tambaram village under the Tambaram Joint 1 SRO and is classified as Commercial Class I Type - II.

How the guideline value of Muthurangam Reddy Street has changed

The guideline value for Muthurangam Reddy Street has undergone several revisions over the years. In 2012, the guideline value was Rs 6,000 per sq.ft, which decreased to Rs 4,020 per sq.ft in 2017. Following this, the value increased significantly to Rs 6,000 per sq.ft in 2023, and then to Rs 6,600 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2017 to 2023, there was a substantial increase of 49% in the guideline value. Overall, from 2012 to 2024, the guideline value has seen a 10% increase. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Tambaram

In Tambaram, there are 360 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 8,250 per sq.ft, with a median value of Rs 3,300 per sq.ft. Muthurangam Reddy Street's 2024 guideline value of Rs 6,600 per sq.ft is above this median.

• Muthurangam Street: Rs 6,600 per sq.ft (2024)
• Muthuranga Mudhali Street: Rs 6,600 per sq.ft (2024)
• Muthumariamman Nagar: Rs 1,650 per sq.ft (2024)
• Nadhu Street: Rs 1,320 per sq.ft (2024)
• Muthulingam Street: Rs 2,200 per sq.ft (2024)
• Mullai Nagar (TNHB Colony): Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Muthurangam Reddy Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value would be Rs 66,00,000. The stamp duty at 7% would amount to Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, bringing the total cost for these fees to Rs 5,94,000. 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 Muthurangam Reddy Street?

The Sub Registrar Office that covers Muthurangam Reddy Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, 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 Tambaram

The guideline value is a crucial factor when buying or selling property in Tambaram. It serves as a benchmark for determining the minimum value of a property for registration purposes. When a property is registered, the stamp duty and registration fees are calculated based on this guideline value.

Frequently asked questions

What is the current guideline value of Muthurangam Reddy Street?

The current guideline value of Muthurangam Reddy Street is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 6,000 per sq.ft in 2012 to Rs 4,020 per sq.ft in 2017, then increased to Rs 6,000 per sq.ft in 2023, and finally to Rs 6,600 per sq.ft in 2024.

What is the land classification of Muthurangam Reddy Street?

Muthurangam Reddy Street is classified as Commercial Class I Type - II.

Where can I find the Tambaram Joint 1 Sub Registrar Office?

The Tambaram Joint 1 Sub Registrar Office is located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at Rs 6,600 per sq.ft would incur a total guideline value of Rs 66,00,000.