Guideline Value for MUTHAALAMMAN NAGAR

Muthaalamman Nagar guideline value

The current guideline value of Muthaalamman Nagar is Rs 330 per sq.ft, effective from 1 July 2024. This street is located in Vichoor village, under the Thiruvottiyur SRO, and is classified as Residential Class I Type - III.

How the guideline value of Muthaalamman Nagar has changed

The guideline value for Muthaalamman Nagar has seen several revisions over the years. Starting from Rs 37 per sq.ft in 2002, it increased to Rs 100 per sq.ft in 2007, marking a significant rise of 170%. The value then jumped to Rs 300 per sq.ft in 2012, reflecting a 200% increase from the previous revision. However, it decreased to Rs 201 per sq.ft in 2017, a decline of 33%. The value further increased to Rs 300 per sq.ft in 2023, and finally reached Rs 330 per sq.ft in the 2024 revision, which is a 10% increase from the previous year. It is important to note that the register has no figure for this street in 2003.

Overall, from 2002 to 2024, the guideline value has increased by 792%. The revisions have shown fluctuations, with the most significant increase occurring between 2007 and 2012, and a notable jump from 2017 to 2023.

Guideline values in Vichoor

In Vichoor, there are 45 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 330 to Rs 550 per sq.ft, with a median value of Rs 485 per sq.ft. Muthaalamman Nagar's current guideline value is below this median.

• Muthulakshmi Nagar: Rs 330 per sq.ft (2024)
• Meenakshi Nagar: Rs 330 per sq.ft (2024)
• New Sun City: Rs 550 per sq.ft (2024)
• Manjula Nagar: Rs 440 per sq.ft (2024)
• Lakshmi Nagar/Ext: Rs 330 per sq.ft (2024)
• Lakshmi Nagar All Phase: Rs 330 per sq.ft (2024)

Stamp duty and registration fee for property in Muthaalamman Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 330 per sq.ft, the total guideline value amounts to Rs 3,30,000. The stamp duty, charged at 7%, would be Rs 23,100, and the registration fee at 2% would be Rs 6,600, bringing the total fees together to Rs 29,700. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Muthaalamman Nagar?

The Sub Registrar Office that covers Muthaalamman Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Vichoor. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared with the sale price, and the higher value is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Muthaalamman Nagar?

The current guideline value of Muthaalamman Nagar is Rs 330 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 37 per sq.ft in 2002 to Rs 330 per sq.ft in 2024, showing an overall increase of 792% over the years.

What is the stamp duty rate for properties in Muthaalamman Nagar?

The stamp duty rate for properties in Muthaalamman Nagar is 7% of the guideline value or sale price, whichever is higher.

What is the registration fee for properties in Muthaalamman Nagar?

The registration fee for properties in Muthaalamman Nagar is 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Muthaalamman Nagar?

The Sub Registrar Office for Muthaalamman Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.