Guideline Value for Muthusamy Street

Muthusamy Street guideline value

The current guideline value of Muthusamy Street is Rs 1,600 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 - II.

How the guideline value of Muthusamy Street has changed

The guideline value for Muthusamy Street has seen several revisions over the years. In 2007, the value was Rs 200 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012. However, there was a decrease to Rs 1,005 per sq.ft in 2017. The value then rose to Rs 1,500 per sq.ft in 2023, and currently stands at Rs 1,600 per sq.ft as of the 2024 revision. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

From 2017 to 2023, there was a substantial increase of 49%, followed by a further increase of 7% from 2023 to 2024. The overall change from 2007 to 2024 reflects a remarkable increase of 700%, highlighting the fluctuations in the guideline value over the years.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO, with guideline values for 2024 ranging from Rs 850 to Rs 6,500 per sq.ft. The median guideline value in the village is Rs 2,200 per sq.ft, placing Muthusamy Street's value below this median.

• Muthuramalingam Devar Street: Rs 1,800 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)
• Nagarajan Street: Rs 950 per sq.ft (2024)

Stamp duty and registration fee for property in Muthusamy Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total fees to Rs 1,44,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Muthusamy Street?

The Sub Registrar Office that covers Muthusamy 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 details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Selaiyur. It is used to determine the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers should be aware of the current guideline value to ensure accurate financial planning.

Additionally, the guideline value serves as a benchmark for property transactions, helping to standardize the pricing in the real estate market. It is essential for both parties to understand the guideline value to avoid discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Muthusamy Street?

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

How has the guideline value changed over the years?

Over the years, the guideline value has changed from Rs 200 per sq.ft in 2007 to Rs 1,600 per sq.ft in 2024, reflecting an overall increase of 700%.

What is the land classification for Muthusamy Street?

Muthusamy Street is classified as Residential Class II Type - II.

Where is the Selaiyur Sub Registrar Office located?

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 stamp duty calculated for properties on Muthusamy Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000 at a rate of 7%.