Guideline Value for Muthuswamy Street

Muthuswamy Street guideline value

The current guideline value of Muthuswamy Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Issa Pallavaram village, under the Pallavaram SRO, and is classified as Residential Class I Type - I.

How the guideline value of Muthuswamy Street has changed

The guideline value of Muthuswamy Street has seen several revisions over the years. In 2003, the value was Rs 267 per sq.ft, which increased significantly to Rs 600 per sq.ft in 2007, marking a 125% rise. The value then jumped to Rs 3,500 per sq.ft in 2012, reflecting a remarkable 483% increase. However, it dropped to Rs 2,345 per sq.ft in 2017, a decrease of 33%. The value rose again to Rs 3,500 per sq.ft in 2023, and most recently, it has increased to Rs 3,850 per sq.ft in 2024, which is a 10% rise from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 1342%. The register has no figure for the year 2002 for this street.

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 for these streets is Rs 3,300 per sq.ft, placing Muthuswamy Street's 2024 figure above this median.

• Muthuswamy Cross Street: Rs 3,300 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 Street

For a 1,000 sq.ft plot at the current rate of Rs 3,850 per sq.ft, the guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total to Rs 3,46,500. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Muthuswamy Street?

The Muthuswamy Street is covered by the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, 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 Issa Pallavaram

The guideline value is a crucial factor in the registration process when buying or selling property in Issa Pallavaram. It determines the minimum value at which property transactions must be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When a property is sold, the guideline value serves as a benchmark for calculating the applicable duties. Buyers should be aware that the duty is charged on the higher of the guideline value or the sale price, which can influence the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Muthuswamy Street?

The current guideline value of Muthuswamy Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 267 per sq.ft in 2003 to Rs 3,850 per sq.ft in 2024, reflecting an overall increase of 1342% over the years.

What is the registration office for Muthuswamy Street?

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

What are the stamp duty and registration fees for properties on this street?

For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 3,46,500, based on the current guideline value of Rs 38,50,000.

What is the land classification for Muthuswamy Street?

Muthuswamy Street is classified as Residential Class I Type - I, which is relevant for determining its guideline value.