Guideline Value for Saiva Muthiah mudali street 1to5 lane

Saiva Muthiah mudali street 1to5 lane guideline value

The current guideline value of Saiva Muthiah mudali street 1to5 lane is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Muthialpet village and falls under the Chennai North Joint I SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Saiva Muthiah mudali street 1to5 lane has changed

The guideline value for Saiva Muthiah mudali street has seen several revisions over the years. In 2007, the value was Rs 1,500 per sq.ft, which increased significantly to Rs 4,500 per sq.ft in 2012, marking a 200% rise. However, this value dropped to Rs 3,015 per sq.ft in 2017, a decrease of 33%. The 2023 revision set the value at Rs 4,500 per sq.ft, and the most recent revision in 2024 raised it to Rs 4,900 per sq.ft, reflecting a 9% increase.

From the 2017 revision to 2023, there was a notable increase of 49%. Overall, since the 2007 revision, the guideline value has increased by 227% by 2024. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Muthialpet

In Muthialpet village, there are 160 streets under the Chennai North Joint I SRO that carry a 2024 guideline value ranging from Rs 3,800 to Rs 18,000 per sq.ft, with a median value of Rs 5,500 per sq.ft. Saiva Muthiah mudali street 1to5 lane's 2024 figure is below this median.

• Saiva Muthiah mudali street: Rs 5,500 per sq.ft (2024)
• Salai Vinayagar Koil 1st lane: Rs 5,200 per sq.ft (2024)
• Salai Vinayagar Koil 2nd lane: Rs 5,200 per sq.ft (2024)
• Salai Vinayagar Koil street *: Rs 7,700 per sq.ft (2024)
• R.S.S. street+: Rs 11,000 per sq.ft (2024)
• Rotlars lane: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Saiva Muthiah mudali street 1to5 lane

For a 1,000 sq.ft plot at the current rate of Rs 4,900 per sq.ft, the guideline value would be Rs 49,00,000. The stamp duty at 7% would be Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, totaling Rs 4,41,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Saiva Muthiah mudali street 1to5 lane?

The Sub Registrar Office that covers Saiva Muthiah mudali street 1to5 lane is the Chennai North Joint I Sub Registrar Office, located at Nsc Bose Road, Kuralagam First Floor, Esplaned Street, Chennai-105. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Muthialpet. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps in establishing a fair price for the transaction. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Saiva Muthiah mudali street 1to5 lane?

The current guideline value of Saiva Muthiah mudali street 1to5 lane is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2007 to Rs 4,900 per sq.ft in 2024, representing an overall increase of 227% over the years.

What is the median guideline value for streets in Muthialpet?

The median guideline value for streets in Muthialpet is Rs 5,500 per sq.ft for the year 2024.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7%, and the registration fee is charged at 2% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Saiva Muthiah mudali street 1to5 lane located?

The Sub Registrar Office for Saiva Muthiah mudali street 1to5 lane is located at Nsc Bose Road, Kuralagam First Floor, Esplaned Street, Chennai-105.