Guideline Value for Muthuswamy street ext(srinivasa nagar)

Muthuswamy street ext(srinivasa nagar) guideline value

The current guideline value of Muthuswamy street ext(srinivasa nagar) is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Peerklankaranai village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of Muthuswamy street ext(srinivasa nagar) has changed

Over the years, the guideline value of Muthuswamy street ext(srinivasa nagar) has seen several revisions. The 2012 revision set the value at Rs 1,500 per sq.ft, which was then reduced to Rs 1,005 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly to Rs 1,500 per sq.ft, marking a 49% rise. The latest revision in 2024 has further increased the value to Rs 1,650 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, the guideline value has seen a 10% increase from the 2012 revision to the current 2024 figure.

Guideline values in Peerklankaranai

Peerklankaranai village has a total of 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 guideline value among these streets is Rs 1,650 per sq.ft, which is equal to the value of Muthuswamy street ext(srinivasa nagar) in 2024.

• Muthuswamy Cross st: Rs 1,320 per sq.ft (2024)
• 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)
• 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 street ext(srinivasa nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to 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.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Muthuswamy street ext(srinivasa nagar)?

The Sub Registrar Office that covers Muthuswamy street ext(srinivasa nagar) is 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 details.

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 determines the minimum value at which a property can be registered, ensuring that the transaction is documented accurately in the official records.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that both the government and the parties involved in the transaction are protected and that all legal requirements are met.

Frequently asked questions

What is the current guideline value of Muthuswamy street ext(srinivasa nagar)?

The current guideline value of Muthuswamy street ext(srinivasa nagar) 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 significantly over the years, with the most recent increase being from Rs 1,500 per sq.ft in 2023 to Rs 1,650 per sq.ft in 2024. The value also rose from Rs 1,005 per sq.ft in 2017 to Rs 1,500 per sq.ft in 2023.

What is the land classification for Muthuswamy street ext(srinivasa nagar)?

The land classification for Muthuswamy street ext(srinivasa nagar) is Residential Class I Type - II. This classification indicates the type of development allowed in the area.

What is the registration office for Muthuswamy street ext(srinivasa nagar)?

The registration office for Muthuswamy street ext(srinivasa nagar) 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 Peerklankaranai?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 16,50,000, the stamp duty at 7% would be Rs 1,15,500.