Guideline Value for vethanda colony muthal cross street

Vethanda Colony Muthal Cross Street guideline value

The current guideline value of Vethanda Colony Muthal Cross Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village under the Tambaram Joint 1 SRO, classified as Residential Class I Type - II.

How the guideline value of Vethanda Colony Muthal Cross Street has changed

The guideline value for Vethanda Colony Muthal Cross Street has undergone several revisions over the years. The figures are as follows: in 2012, the value was Rs 2,500 per sq.ft, which then decreased to Rs 1,675 per sq.ft in 2017. Following this, the value increased to Rs 2,500 per sq.ft in 2023, and finally, it reached Rs 2,750 per sq.ft in the 2024 revision. There are no figures available for the revisions in 2002, 2003, and 2007 for this street.

From 2012 to 2017, the value decreased by 33%. However, from 2017 to 2023, there was a significant increase of 49%. The change from 2023 to 2024 reflects a positive adjustment of 10%. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Chitlapakkam

Chitlapakkam has a total of 548 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value in this area is Rs 1,650 per sq.ft, placing Vethanda Colony Muthal Cross Street above this median.

• Vethandam Colony 3rd Street: Rs 2,750 per sq.ft (2024)
• Vethadam Colony 2nd Street: Rs 2,750 per sq.ft (2024)
• Venkadeshwaralu Street: Rs 1,100 per sq.ft (2024)
• Vigneshpuram: Rs 1,100 per sq.ft (2024)
• Velappan Street: Rs 3,850 per sq.ft (2024)
• Velappan Cross Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Vethanda Colony Muthal Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, while the registration fee at 2% would be Rs 55,000. Together, these fees would total Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vethanda Colony Muthal Cross Street?

The Sub Registrar Office that covers Vethanda Colony Muthal Cross Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of property transactions in Chitlapakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When registering a property, the guideline value ensures that the government receives the appropriate revenue from property transactions. Buyers and sellers should be aware of the guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Vethanda Colony Muthal Cross Street?

The current guideline value of Vethanda Colony Muthal Cross Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,750 per sq.ft in 2024.

What are the other streets in Chitlapakkam with similar guideline values?

Other streets in Chitlapakkam with similar guideline values include Vethandam Colony 3rd Street and Vethadam Colony 2nd Street, both at Rs 2,750 per sq.ft in 2024.

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

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 1,92,500 and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Which office handles property registrations in Vethanda Colony Muthal Cross Street?

The Tambaram Joint 1 Sub Registrar Office handles property registrations for Vethanda Colony Muthal Cross Street, located at No.26, Mes Road, East Tambaram, Chennai-600059.