Guideline Value for MUTHAMIL NAGAR

Muthamil Nagar guideline value

The current guideline value of Muthamil Nagar is Rs 100 per sq.ft, effective from the 2024 revision. This area is located in Karunakacherry village, under the Salavakkam SRO, classified as Residential Class I Type - I.

How the guideline value of Muthamil Nagar has changed

Over the years, the guideline value of Muthamil Nagar has seen several revisions. The 2012 revision set the value at Rs 100 per sq.ft, which remained unchanged until the 2023 revision, also at Rs 100 per sq.ft. The 2017 revision was lower, at Rs 67 per sq.ft, reflecting a decrease of 33% from the 2012 figure. Notably, there are no figures available for the revisions in 2002, 2003, and 2007.

From 2017 to 2023, there was a significant increase of 49%, bringing the value back to Rs 100 per sq.ft. The latest revision in 2024 maintains this value, showing no percentage change from the previous year. Overall, comparing the 2012 and 2024 revisions, the guideline value has remained constant at Rs 100 per sq.ft.

Guideline values in Karunakacherry

In Karunakacherry, there are 10 streets under the Salavakkam SRO with a 2024 guideline value ranging from Rs 100 to Rs 200 per sq.ft. The median value is Rs 100 per sq.ft, which is equal to the guideline value of Muthamil Nagar.

• New Laural Nagar: Rs 151 per sq.ft (2024)
• New Laural Nagar Extension: Rs 151 per sq.ft (2024)
• Karthik Garden: Rs 200 per sq.ft (2024)
• Sachin Nagar: Rs 100 per sq.ft (2024)
• Sachin Nagar Extension: Rs 100 per sq.ft (2024)
• Ganaprakasham Nagar: Rs 100 per sq.ft (2024)

Stamp duty and registration fee for property in Muthamil Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 100 per sq.ft, the total guideline value would be Rs 1,00,000. The stamp duty at 7% would amount to Rs 7,000, and the registration fee at 2% would be Rs 2,000, leading to a total of Rs 9,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Muthamil Nagar?

The Sub Registrar Office that covers Muthamil Nagar is the Salavakkam Sub Registrar Office, located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor when registering property transactions in Karunakacherry. It serves as the basis for calculating stamp duty and registration fees, which are mandatory for legal property transfers.

Frequently asked questions

What is the current guideline value of Muthamil Nagar?

The current guideline value of Muthamil Nagar is Rs 100 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

The guideline value has remained at Rs 100 per sq.ft from 2012 to 2024, with a decrease to Rs 67 per sq.ft in 2017. There were no figures available for the revisions in 2002, 2003, and 2007.

What is the median guideline value in Karunakacherry?

The median guideline value in Karunakacherry is Rs 100 per sq.ft, which is the same as the guideline value for Muthamil Nagar.

What are the stamp duty and registration fees for property in Muthamil Nagar?

For a 1,000 sq.ft plot valued at Rs 1,00,000, the stamp duty would be Rs 7,000 and the registration fee Rs 2,000, totaling Rs 9,000. The duty is charged on the higher of the guideline value or the sale price.

Where is the Sub Registrar Office for Muthamil Nagar located?

The Salavakkam Sub Registrar Office covers Muthamil Nagar and is located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone.