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 area is located in Vichoor_B 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. The oldest recorded revision is from 2017, where the value was Rs 201 per sq.ft. This increased to Rs 300 per sq.ft in 2023, marking a significant rise of 49%. The latest revision in 2024 brought the value to Rs 330 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 64%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Vichoor_B

In Vichoor_B, there are 45 streets under the Thiruvottiyur SRO that have 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 would be Rs 3,30,000. The stamp duty at 7% would amount to Rs 23,100, and the registration fee at 2% would be Rs 6,600, bringing the total cost for these fees to Rs 29,700. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

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_B

The guideline value is a crucial factor in the registration process of property transactions in Vichoor_B. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a property is registered, the guideline value is used to calculate the applicable fees, ensuring that both the buyer and seller comply with the legal requirements set forth by the Registration Department.

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 increased from Rs 201 per sq.ft in 2017 to Rs 330 per sq.ft in 2024, marking a total increase of 64% over this period.

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

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

Where can I find the Thiruvottiyur Sub Registrar Office?

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

How is the guideline value used in property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions, ensuring compliance with legal requirements.