Guideline Value for MUTHAIYAH GARDEN

Muthaiyah Garden guideline value

The current guideline value of Muthaiyah Garden is Rs 400 per sq.ft, effective from 1 July 2024. It is located in Naalur village under the Ponneri SRO, classified as Residential Class II Type - I.

How the guideline value of Muthaiyah Garden has changed

In the 2012 revision, the guideline value was set at Rs 300 per sq.ft. This figure increased to Rs 268 per sq.ft in 2017, reflecting a decrease of 11%. However, from 2017 to 2023, the value rose significantly by 49%, bringing it back to Rs 400 per sq.ft. The 2024 revision maintains this figure, showing no change from 2023.

Overall, from 2012 to 2024, the guideline value has increased by 33%, reaching the current rate of Rs 400 per sq.ft. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Naalur

In Naalur, there are 23 streets under the Ponneri SRO with a 2024 guideline value ranging from Rs 400 to Rs 600 per sq.ft, with a median of Rs 400 per sq.ft. Muthaiyah Garden's 2024 guideline value aligns with this median.

• M.K.N. Nagar: Rs 500 per sq.ft (2024)
• Minjur Modern City: Rs 400 per sq.ft (2024)
• M G M Anandha Nagar: Rs 400 per sq.ft (2024)
• Om Sakthi Naagr: Rs 400 per sq.ft (2024)
• Padmavathi Nagar: Rs 600 per sq.ft (2024)
• Kesavapuram: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Muthaiyah Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value would be Rs 4,00,000. The stamp duty at 7% would amount to Rs 28,000, and the registration fee at 2% would be Rs 8,000, totaling Rs 36,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Muthaiyah Garden?

The Sub Registrar Office covering Muthaiyah Garden is the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Naalur. It serves as the base value for calculating stamp duty and registration fees, ensuring that these charges are appropriately assessed based on the property's worth.

When buying or selling property, the guideline value helps both parties understand the minimum value at which the property is recognized by the government. This ensures transparency and fairness in property transactions within the region.

Frequently asked questions

What is the current guideline value of Muthaiyah Garden?

The current guideline value of Muthaiyah Garden is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2012 to Rs 268 per sq.ft in 2017, then increased to Rs 400 per sq.ft in 2023 and remains at this level in 2024.

What is the classification of land in Muthaiyah Garden?

Muthaiyah Garden is classified as Residential Class II Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Muthaiyah Garden?

The Sub Registrar Office for Muthaiyah Garden is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.

How is stamp duty calculated for properties in Naalur?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 4,00,000, the stamp duty would be Rs 28,000 at a rate of 7%.