Guideline Value for Muthuswami South Street

Muthuswami South Street guideline value

The current guideline value of Muthuswami South Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Peerklankaranai village and falls under the Tambaram Joint 1 SRO, classified as Residential Class II Type - I.

How the guideline value of Muthuswami South Street has changed

The guideline value for Muthuswami South Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,000 per sq.ft, which was then reduced to Rs 670 per sq.ft in the 2017 revision. Following this, the value increased to Rs 1,000 per sq.ft in the 2023 revision. The most recent revision in 2024 has set the value at Rs 1,100 per sq.ft.

Between the revisions, the changes are as follows: from 2012 to 2017, there was a decrease of 33%; from 2017 to 2023, an increase of 49%; and from 2023 to 2024, an increase of 10%. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Peerklankaranai

In Peerklankaranai village, there are 322 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 4,400 per sq.ft, with a median value of Rs 1,650 per sq.ft. Muthuswami South Street's 2024 figure is below this median.

• Muthuswami North Street: Rs 1,100 per sq.ft (2024)
• Muthuswami Street: Rs 1,650 per sq.ft (2024)
• Muthuswamy Cross st: Rs 1,320 per sq.ft (2024)
• Muthuswamy street ext(srinivasa nagar): Rs 1,650 per sq.ft (2024)
• Muthamil Street: Rs 2,200 per sq.ft (2024)
• Muthamil Ist Cross Street: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Muthuswami South Street

For a 1,000 sq.ft plot at the current rate of Rs 1,100 per sq.ft, the guideline value would be Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. 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 details.

Which Sub Registrar Office covers Muthuswami South Street?

The Sub Registrar Office that covers Muthuswami South Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. To find your SRO, visit find your SRO.

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

The guideline value is a crucial factor when buying or selling property in Peerklankaranai. 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 used to determine the minimum price at which the property can be registered. This ensures that the transaction is recorded at a value that reflects the prevailing market conditions as per the official register.

Frequently asked questions

What is the current guideline value of Muthuswami South Street?

The current guideline value of Muthuswami South Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then back to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the land classification of Muthuswami South Street?

Muthuswami South Street is classified as Residential Class II Type - I.

Where can I find the Tambaram Joint 1 SRO?

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

How is the stamp duty calculated for properties on Muthuswami South Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 11,00,000 would incur a stamp duty of Rs 77,000.