Guideline Value for SAIVA MUTHIAH 4TH STREET

Saiva Muthiah 4th Street guideline value

The current guideline value of Saiva Muthiah 4th Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village and falls under the Mylapore SRO. The land classification for this area is Residential Class V Type - III.

How the guideline value of Saiva Muthiah 4th Street has changed

The guideline value for Saiva Muthiah 4th Street has undergone several revisions over the years. In 2002, the value was Rs 612 per sq.ft, which increased significantly to Rs 680 per sq.ft in 2003, marking an increase of 11%. The value continued to rise, reaching Rs 3,000 per sq.ft in 2012, which was a substantial increase of 341% from the previous revision. However, it saw a decline of 33% to Rs 2,010 per sq.ft in 2017. The value then increased by 49% to Rs 3,000 per sq.ft in 2023, and it has now risen by 10% to the current value of Rs 3,300 per sq.ft in 2024.

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

Guideline values in Mylapore

In Mylapore, there are 883 streets under the Mylapore SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median guideline value for these streets is Rs 8,800 per sq.ft, placing Saiva Muthiah 4th Street's 2024 figure below that median.

• Saiva Muthiah 3rd Street: Rs 3,300 per sq.ft (2024)
• Saiva Muthiah 5th Street: Rs 3,300 per sq.ft (2024)
• Saiva Muthiah 2nd Street: Rs 3,300 per sq.ft (2024)
• Saiva Muthiah 6th Street: Rs 3,300 per sq.ft (2024)
• Saiva Muthiah 1st 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 4th Street

For a 1,000 sq.ft plot at the current rate, 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 Saiva Muthiah 4th Street?

The Sub Registrar Office that covers Saiva Muthiah 4th 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 information.

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

The guideline value is a crucial factor when buying or selling property in Mylapore. It serves as a benchmark for determining the stamp duty and registration fees applicable during the registration process. Buyers must ensure that they are aware of the current guideline value to avoid any discrepancies during the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two figures is used to calculate the applicable duties and fees. This ensures that the government receives the correct amount based on the established value of the property.

Frequently asked questions

What is the current guideline value of Saiva Muthiah 4th Street?

The current guideline value of Saiva Muthiah 4th 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 612 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 439% over the years.

What is the median guideline value in Mylapore?

The median guideline value for streets in Mylapore is Rs 8,800 per sq.ft, which is higher than the current value of Saiva Muthiah 4th Street.

What are the stamp duty rates for properties in Saiva Muthiah 4th Street?

The stamp duty rate for properties in Saiva Muthiah 4th Street is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Which office handles registrations for Saiva Muthiah 4th Street?

The Mylapore Sub Registrar Office handles registrations for Saiva Muthiah 4th Street, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.