Guideline Value for SAIVA MUTHIAH 6TH STREET

Saiva Muthiah 6th Street guideline value

The current guideline value of Saiva Muthiah 6th 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 6th Street has changed

The guideline value for Saiva Muthiah 6th Street has seen several revisions over the years. Starting from Rs 659 per sq.ft in 2002, the value increased to Rs 732 per sq.ft in 2003, marking an 11% rise. The next recorded revision was in 2012, where the value was Rs 3,000 per sq.ft, reflecting a substantial increase of 310% since 2003. However, in 2017, the value dropped to Rs 2,010 per sq.ft, representing a decrease of 33% from the previous revision.

In 2023, the guideline value rose to Rs 3,000 per sq.ft, and then to Rs 3,300 per sq.ft in the 2024 revision, which is a 10% increase. Overall, from 2002 to 2024, the guideline value has increased by 401%. It is important to note that there is no figure available for this street in the 2007 revision.

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 of Saiva Muthiah 6th Street is below this median.

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

The Sub Registrar Office covering Saiva Muthiah 6th 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 reference point when buying or selling property in Mylapore. It helps determine the stamp duty and registration fees applicable during the transaction. Buyers should be aware that the guideline value can influence the overall costs associated with property registration.

When registering a property, the value is used to calculate the fees, ensuring that both buyers and sellers are aware of the financial implications of their transactions. It is essential to consult the latest guideline values to understand the costs involved fully.

Frequently asked questions

What is the current guideline value of Saiva Muthiah 6th Street?

The current guideline value of Saiva Muthiah 6th 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 659 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, showing an overall increase of 401% over the years.

What is the stamp duty rate for property transactions?

The stamp duty rate for property transactions in Tamil Nadu is generally 7% of the guideline value or sale price, whichever is higher.

Where is the Mylapore Sub Registrar Office located?

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

What are the other streets in Mylapore with the same guideline value?

Other streets in Mylapore with the same guideline value of Rs 3,300 per sq.ft as of 2024 include Saiva Muthiah 1st, 2nd, 3rd, 4th, and 5th Streets.