Guideline Value for Muthusha Hussain Street

Muthusha Hussain Street guideline value

The current guideline value of Muthusha Hussain Street is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Naravarikuppam village and falls under the Redhills SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Muthusha Hussain Street has changed

The guideline value for Muthusha Hussain Street has seen several revisions over the years. In 2007, the guideline value was Rs 400 per sq.ft, which increased significantly to Rs 1,200 per sq.ft in 2012, marking a 200% increase. However, it then decreased to Rs 804 per sq.ft in 2017, a reduction of 33%. The value rose again to Rs 1,200 per sq.ft in 2023, and most recently, it increased to Rs 1,320 per sq.ft in 2024, reflecting a 10% rise.

There are no figures available for Muthusha Hussain Street in the revisions for the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 230%.

Guideline values in Naravarikuppam

In Naravarikuppam, there are 112 streets under the Redhills SRO with a 2024 guideline value ranging from Rs 1,320 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, which means that Muthusha Hussain Street's current value is below this median.

• Muthuramalinga Devar Street: Rs 2,200 per sq.ft (2024)
• Nara Lane: Rs 1,320 per sq.ft (2024)
• Murthuja Hussian Sahib Street: Rs 1,320 per sq.ft (2024)
• Natesan Street: Rs 1,870 per sq.ft (2024)
• Mugamathu Nayakkar Street: Rs 1,320 per sq.ft (2024)
• Moulana Abdul Kalam Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Muthusha Hussain Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, making the total cost for these fees Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Muthusha Hussain Street?

The Sub Registrar Office that covers Muthusha Hussain Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Naravarikuppam. It serves as the basis for calculating stamp duty and registration fees during the registration process. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations.

When a property is sold, the guideline value is compared with the sale price. The higher of the two values is used to determine the applicable stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Muthusha Hussain Street?

The current guideline value of Muthusha Hussain Street is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 1,320 per sq.ft in 2024, reflecting an overall increase of 230% over the years.

What is the median guideline value in Naravarikuppam?

The median guideline value for the streets in Naravarikuppam is Rs 1,650 per sq.ft, which is higher than the current value of Muthusha Hussain Street.

What are the stamp duty and registration fees for properties in Muthusha Hussain Street?

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 1,18,800.

Which office handles registrations for Muthusha Hussain Street?

The Redhills Sub Registrar Office handles registrations for Muthusha Hussain Street, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.