Guideline Value for Muthuswamy Cross Street

Muthuswamy Cross Street guideline value

The current guideline value of Muthuswamy Cross Street in Issa Pallavaram village is Rs 3,300 per sq.ft, effective from 1 July 2024. This street falls under the Pallavaram Sub Registrar Office and is classified as Residential Class I Type - II.

How the guideline value of Muthuswamy Cross Street has changed

The guideline value for Muthuswamy Cross Street has undergone several revisions over the years. The earliest recorded value is from 2003, set at Rs 267 per sq.ft. This increased significantly to Rs 600 per sq.ft in 2007, marking a 125% rise. The value then surged to Rs 3,000 per sq.ft in 2012, which represented a remarkable 400% increase. However, from 2012 to 2017, the value decreased to Rs 2,010 per sq.ft, reflecting a decline of 33%. The subsequent revision in 2023 saw the value rise to Rs 3,000 per sq.ft, a 49% increase. Finally, the current revision in 2024 has set the guideline value at Rs 3,300 per sq.ft, which is a 10% increase from the previous year.

It is important to note that there is no recorded figure for Muthuswamy Cross Street in the 2002 revision.

Guideline values in Issa Pallavaram

In Issa Pallavaram, there are 110 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median value is Rs 3,300 per sq.ft, which is equal to the current guideline value of Muthuswamy Cross Street.

• Muthuswamy Street: Rs 3,850 per sq.ft (2024)
• Nagarathinam Street: Rs 2,750 per sq.ft (2024)
• Munvar Avenue 3rd Street: Rs 4,950 per sq.ft (2024)
• Munvar Avenue 2nd Street: Rs 4,950 per sq.ft (2024)
• Munvar Avenue 1st Street: Rs 4,950 per sq.ft (2024)
• Munvar Avenue: Rs 4,950 per sq.ft (2024)

Stamp duty and registration fee for property in Muthuswamy Cross Street

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. 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 Muthuswamy Cross Street?

The Sub Registrar Office that covers Muthuswamy Cross Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during property registration in Issa Pallavaram. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must be aware that the guideline value is used to calculate the applicable stamp duty and registration fees.

When purchasing property, the buyer should ensure that the sale price is not below the guideline value, as this could lead to legal complications. The registration process will require adherence to the guideline value to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Muthuswamy Cross Street?

The current guideline value of Muthuswamy Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 267 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, representing an overall increase of 1,136% over the years.

What is the stamp duty rate for property in Muthuswamy Cross Street?

The stamp duty rate for property in Muthuswamy Cross Street is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Muthuswamy Cross Street located?

The Sub Registrar Office for Muthuswamy Cross Street is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

What are the other streets in Issa Pallavaram with their guideline values?

Other streets in Issa Pallavaram include Muthuswamy Street at Rs 3,850 per sq.ft, Nagarathinam Street at Rs 2,750 per sq.ft, and various streets on Munvar Avenue, all at Rs 4,950 per sq.ft, as per the 2024 revision.