Guideline Value for MuthusolaiStreet

MuthusolaiStreet guideline value

The current guideline value of MuthusolaiStreet is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Egmore village under the Periamet SRO and is classified as Residential Class II Type - III.

How the guideline value of MuthusolaiStreet has changed

The guideline value for MuthusolaiStreet has undergone several revisions over the years. In 2002, the guideline value was Rs 534 per sq.ft, which increased to Rs 589 per sq.ft in 2003. Following this, the value saw a significant increase to Rs 1,800 per sq.ft in 2007. The 2012 revision maintained the value at Rs 4,500 per sq.ft, but it dropped to Rs 3,015 per sq.ft by 2017. The value then rose to Rs 4,500 per sq.ft in 2023, and finally, it is now Rs 4,900 per sq.ft in the 2024 revision.

Between the revisions, notable changes include a 206% increase from 2003 to 2007, a 150% increase from 2007 to 2012, a 33% decrease from 2012 to 2017, a 49% increase from 2017 to 2023, and a 9% increase from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by 818%.

Guideline values in Egmore

In Egmore village, there are 465 streets under the Periamet SRO that carry a 2024 guideline value ranging from Rs 2,800 to Rs 22,000 per sq.ft, with a median value of Rs 7,100 per sq.ft. MuthusolaiStreet's 2024 figure of Rs 4,900 per sq.ft is below this median.

• Nagappa Mudali street: Rs 10,100 per sq.ft (2024)
• Muthiyappa Gramani street: Rs 7,100 per sq.ft (2024)
• Murugesan street: Rs 3,900 per sq.ft (2024)
• Murugesan NaickenStreet: Rs 3,900 per sq.ft (2024)
• Narayana doss street: Rs 7,100 per sq.ft (2024)
• Narayana Naicken 10th lane: Rs 7,100 per sq.ft (2024)

Stamp duty and registration fee for property in MuthusolaiStreet

For a 1,000 sq.ft plot at the current rate of Rs 4,900 per sq.ft, the guideline value amounts to Rs 49,00,000. The stamp duty at 7% would be Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, making the total Rs 4,41,000. 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 more details.

Which Sub Registrar Office covers MuthusolaiStreet?

The Sub Registrar Office that covers MuthusolaiStreet is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Egmore. It serves as a benchmark for determining the value of the property, which is essential for calculating stamp duty and registration fees.

When a property is sold, the buyer and seller must ensure that the sale price is at least equal to the guideline value. If the sale price is lower than the guideline value, the stamp duty will be calculated based on the guideline value instead.

Frequently asked questions

What is the current guideline value of MuthusolaiStreet?

The current guideline value of MuthusolaiStreet is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, from Rs 534 per sq.ft in 2002 to Rs 4,900 per sq.ft in 2024, reflecting an overall increase of 818% over this period.

What are the other streets in Egmore with their guideline values?

Other streets in Egmore include Nagappa Mudali street at Rs 10,100 per sq.ft, Muthiyappa Gramani street at Rs 7,100 per sq.ft, and Murugesan street at Rs 3,900 per sq.ft, among others.

What are the stamp duty and registration fees for properties in MuthusolaiStreet?

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total stamp duty and registration fees amount to Rs 4,41,000.

Where is the Sub Registrar Office for MuthusolaiStreet located?

The Sub Registrar Office for MuthusolaiStreet is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.