Guideline Value for SAIVA MUTHIAH 3RD STREET

Saiva Muthiah 3rd Street guideline value

The current guideline value of Saiva Muthiah 3rd Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village, under the Mylapore SRO, and is classified as Residential Class V Type - III.

How the guideline value of Saiva Muthiah 3rd Street has changed

The guideline value for Saiva Muthiah 3rd Street has seen several changes over the years. In the 2002 revision, the value was Rs 612 per sq.ft, which increased to Rs 680 per sq.ft in 2003. Following that, the value rose significantly to Rs 3,000 per sq.ft in 2012, but then decreased to Rs 2,010 per sq.ft in 2017. The value then increased to Rs 3,000 per sq.ft in 2023 and finally to Rs 3,300 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 439%. It is important to note that the register has no figure for this street in the 2007 revision.

Guideline values in Mylapore

In Mylapore, there are 883 streets under the Mylapore SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median value for these streets is Rs 8,800 per sq.ft, placing Saiva Muthiah 3rd Street's 2024 figure below that median.

• Saiva Muthiah 2nd Street: Rs 3,300 per sq.ft (2024)
• Saiva Muthiah 4th Street: Rs 3,300 per sq.ft (2024)
• Saiva Muthiah 1st Street: Rs 3,300 per sq.ft (2024)
• Saiva Muthiah 5th Street: Rs 3,300 per sq.ft (2024)
• Saiva Muthiah 6th Street: Rs 3,300 per sq.ft (2024)
• SAINT MARY'S ROAD (From Bakthavachalam st to TTK Road): Rs 15,400 per sq.ft (2024)

Stamp duty and registration fee for property in Saiva Muthiah 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Saiva Muthiah 3rd Street?

The Sub Registrar Office that covers Saiva Muthiah 3rd Street is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018. You can find your SRO for more details.

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

The guideline value is an important factor in the registration process for property transactions in Mylapore. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is registered, the guideline value or the sale price is considered, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Saiva Muthiah 3rd Street?

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

How much has the guideline value changed over the years?

The guideline value has increased from Rs 612 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 439% over this period.

What is the land classification of Saiva Muthiah 3rd Street?

Saiva Muthiah 3rd Street is classified as Residential Class V Type - III.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office for Saiva Muthiah 3rd Street is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018.

What are the stamp duty rates applicable for property transactions?

The stamp duty for property transactions in Saiva Muthiah 3rd Street is charged at 7% of the guideline value or sale price, whichever is higher. The registration fee is charged at 2%.