Guideline Value for Muthuswami Street

Muthuswami Street guideline value

The current guideline value of Muthuswami Street in Peerklankaranai village is Rs 1,650 per sq.ft, effective from 1 July 2024. This street falls under the Tambaram Joint 1 SRO and is classified as Residential Class I Type - II.

How the guideline value of Muthuswami Street has changed

The guideline value for Muthuswami Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 1,005 per sq.ft. Following this, the 2023 revision increased the value to Rs 1,500 per sq.ft. The most recent 2024 revision has raised it to Rs 1,650 per sq.ft, marking a 10% increase from the previous year.

From the 2017 revision to the 2023 revision, there was a significant increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Peerklankaranai

In Peerklankaranai, 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. The median value of these streets is Rs 1,650 per sq.ft, which is equal to the 2024 guideline value of Muthuswami Street.

• Muthuswami South Street: Rs 1,100 per sq.ft (2024)
• Muthuswamy Cross st: Rs 1,320 per sq.ft (2024)
• Muthuswami North Street: Rs 1,100 per sq.ft (2024)
• Muthuswami 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 Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total fees to Rs 1,48,500. 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 Street?

The Muthuswami Street falls under 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 Peerklankaranai

The guideline value is a crucial factor during the registration of property transactions in Peerklankaranai. It serves as a benchmark for determining the minimum value on which stamp duty and registration fees are calculated.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, which is essential for legal and taxation purposes. Buyers and sellers should always be aware of the current guideline value to avoid discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Muthuswami Street?

The current guideline value of Muthuswami Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,650 per sq.ft in 2024, with various revisions in between, including a decrease in 2017 and increases in 2023 and 2024.

What is the classification of Muthuswami Street?

Muthuswami Street is classified as Residential Class I Type - II under the Tambaram Joint 1 SRO.

Where can I find the registration office for Muthuswami Street?

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

How is the stamp duty calculated for properties in Muthuswami Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate would incur a stamp duty of Rs 1,15,500.