Guideline Value for Muthuswamy Cross st

Muthuswamy Cross st guideline value

The current guideline value of Muthuswamy Cross Street in Peerklankaranai village is Rs 1,320 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 - III.

How the guideline value of Muthuswamy Cross st has changed

Over the years, the guideline value for Muthuswamy Cross Street has seen several revisions. The 2012 revision set the value at Rs 1,200 per sq.ft, which was then decreased to Rs 804 per sq.ft in the 2017 revision. Following this, the value increased to Rs 1,200 per sq.ft in the 2023 revision, and finally, it reached Rs 1,320 per sq.ft in the 2024 revision. The register has no figure for this street in the years 2002, 2003, and 2007.

From 2012 to 2017, the guideline value decreased by 33%, but from 2017 to 2023, it increased significantly by 49%. The overall change from 2012 to 2024 shows a modest increase of 10% in the guideline value.

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 for these streets is Rs 1,650 per sq.ft, indicating that the guideline value for Muthuswamy Cross Street is below this median.

• Muthuswami Street: Rs 1,650 per sq.ft (2024)
• Muthuswami South Street: Rs 1,100 per sq.ft (2024)
• Muthuswami North Street: Rs 1,100 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 Muthuswamy Cross st

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 amount to Rs 92,400, while the registration fee at 2% would be Rs 26,400, bringing the total to Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Muthuswamy Cross st?

The Muthuswamy Cross Street is covered by 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 in the registration process when buying or selling property in Peerklankaranai. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is used to calculate the applicable taxes, ensuring that both the buyer and seller comply with the legal requirements set by the Registration Department.

Frequently asked questions

What is the current guideline value of Muthuswamy Cross Street?

The current guideline value of Muthuswamy Cross 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 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then back to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

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

Other streets in Peerklankaranai include Muthuswami Street at Rs 1,650 per sq.ft, Muthuswami South Street and Muthuswami North Street at Rs 1,100 per sq.ft, and Muthamil Street at Rs 2,200 per sq.ft.

How is stamp duty calculated for properties in Muthuswamy Cross Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400 at 7%.

Where can I find the Sub Registrar Office for Muthuswamy Cross Street?

The Sub Registrar Office covering Muthuswamy Cross Street is located at No.26, Mes Road, East Tambaram, Chennai-600059. You can find more information by visiting the provided link.