Guideline Value for MUTHAMIL NAGAR 12TH CROSS STREET

Muthamil Nagar 12th Cross Street guideline value

The current guideline value of Muthamil Nagar 12th Cross Street is Rs 2,100 per sq.ft, effective from 1 July 2024. This street is located in Korattur village under the Villivakkam SRO and is classified as Residential Class III Type - I.

How the guideline value of Muthamil Nagar 12th Cross Street has changed

In the 2012 revision, the guideline value was Rs 2,000 per sq.ft. This figure remained unchanged in the 2023 revision, where it was still Rs 2,000 per sq.ft. However, in the 2024 revision, the guideline value increased to Rs 2,100 per sq.ft, marking a 5% increase from the previous year. Overall, from 2012 to 2024, the guideline value has increased by 5%.

The register does not have figures for the years 2002, 2003, 2007, and 2017 for this street.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 8,200 per sq.ft. The median guideline value in this area is Rs 2,500 per sq.ft, placing Muthamil Nagar 12th Cross Street's 2024 figure below that median.

• Muthamil Nagar (All Streets): Rs 2,100 per sq.ft (2024)
• Muthamil Nagar Extension: Rs 2,100 per sq.ft (2024)
• Murugambedu Main Road: Rs 2,100 per sq.ft (2024)
• Nagamman Nagar: Rs 1,600 per sq.ft (2024)
• Nagathamman Koil Street: Rs 2,900 per sq.ft (2024)
• Nagavalli Nagar: Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in Muthamil Nagar 12th Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,100 per sq.ft, the total guideline value would be Rs 21,00,000. The stamp duty at 7% would amount to Rs 1,47,000, while the registration fee at 2% would be Rs 42,000. Together, these fees would total Rs 1,89,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Muthamil Nagar 12th Cross Street?

The Sub Registrar Office that covers Muthamil Nagar 12th Cross Street is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Korattur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is assessed to ensure that the correct fees are collected. It is essential for buyers and sellers to be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Muthamil Nagar 12th Cross Street?

The current guideline value of Muthamil Nagar 12th Cross Street is Rs 2,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2012, the guideline value has increased from Rs 2,000 per sq.ft to Rs 2,100 per sq.ft as of 2024, reflecting a 5% increase over this period.

What is the land classification for Muthamil Nagar 12th Cross Street?

Muthamil Nagar 12th Cross Street is classified as Residential Class III Type - I.

Where can I find the registration office for properties in Muthamil Nagar?

The registration office for properties in Muthamil Nagar is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher, while the registration fee is charged at 2% of the same. For example, a property valued at Rs 21,00,000 would incur a stamp duty of Rs 1,47,000 and a registration fee of Rs 42,000.