Guideline Value for SAIVA MUTHIAH 5TH STREET

Saiva Muthiah 5th Street guideline value

The current guideline value of Saiva Muthiah 5th 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 5th Street has changed

The guideline value for Saiva Muthiah 5th Street has seen several revisions 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. The next recorded revision was in 2012, where the value rose to Rs 3,000 per sq.ft, but dropped to Rs 2,010 per sq.ft in the 2017 revision. The 2023 revision saw a significant increase to Rs 3,000 per sq.ft, and the most recent 2024 revision brought it up to Rs 3,300 per sq.ft, marking a 10% increase from the previous year.

From 2002 to 2024, the overall change in the guideline value is an increase of 439%. Notably, there is no figure recorded for the year 2007 in the register for this street.

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, with a median value of Rs 8,800 per sq.ft. The guideline value for Saiva Muthiah 5th Street is below this median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total 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, bringing the total fees together to Rs 2,97,000. 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 precise calculations.

Which Sub Registrar Office covers Saiva Muthiah 5th Street?

The Sub Registrar Office that covers Saiva Muthiah 5th Street is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. To find your SRO, you can visit this link.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Mylapore. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transfer of property ownership.

When a property is registered, the authorities will assess the guideline value to calculate the applicable fees. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Saiva Muthiah 5th Street?

The current guideline value of Saiva Muthiah 5th 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 this period.

What is the land classification for Saiva Muthiah 5th Street?

Saiva Muthiah 5th Street is classified as Residential Class V Type - III.

What are the stamp duty and registration fees for a property here?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which Sub Registrar Office handles transactions for this street?

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