Guideline Value for Muthurangam Street

Muthurangam Street guideline value

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

How the guideline value of Muthurangam Street has changed

Starting from the 2002 revision, the guideline value for Muthurangam Street was Rs 623 per sq.ft. This figure increased significantly to Rs 1,000 per sq.ft in 2003, marking a rise of 61%. The next revision in 2007 saw a decrease to Rs 6,907 per sq.ft, which was a change of -13%. In 2012, the value adjusted to Rs 6,000 per sq.ft, reflecting a decline of 33%. The 2017 revision set the value at Rs 4,020 per sq.ft, an increase of 49% from the previous year. The 2023 revision brought the value to Rs 6,000 per sq.ft, and the latest revision in 2024 has increased it to Rs 6,600 per sq.ft, a rise of 10%.

Overall, from 2002 to 2024, the guideline value has seen a substantial increase of 959%. There are no figures available for the years not mentioned in the revisions.

Guideline values in Tambaram

In Tambaram village, there are 360 streets under the Tambaram Joint 1 SRO that have a 2024 guideline value ranging from Rs 880 to Rs 8,250 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, placing Muthurangam Street's 2024 figure above that median.

• Muthuranga Mudhali Street: Rs 6,600 per sq.ft (2024)
• Muthurangam Reddy 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 Street

For a 1,000 sq.ft plot at the current rate of Rs 6,600 per sq.ft, the 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 to Rs 5,94,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Muthurangam Street?

The Sub Registrar Office that covers Muthurangam 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 in the registration process of property transactions in Tambaram. It serves as the basis for calculating stamp duty and registration fees, ensuring that these costs are aligned with the official valuation of the property.

When buying or selling property, the guideline value helps establish a fair transaction price. It is essential for both buyers and sellers to be aware of the current guideline value to ensure compliance with the legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Muthurangam Street?

The current guideline value of Muthurangam 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 significantly from Rs 623 per sq.ft in 2002 to Rs 6,600 per sq.ft in 2024, reflecting an overall increase of 959% over the years.

What is the registration office for Muthurangam Street?

The registration office covering Muthurangam Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How is stamp duty calculated for properties on Muthurangam Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For a property valued at Rs 66,00,000, the stamp duty at 7% would be Rs 4,62,000.

What are the land classifications in Tambaram?

The land classification for Muthurangam Street is Commercial Class I Type - II. This classification is important for determining the guideline value and other regulatory aspects of property transactions.