Guideline Value for MUTHAMIZH NAGAR

Muthamizh Nagar guideline value

The current guideline value of Muthamizh Nagar is Rs 750 per sq.ft, effective from 1 July 2024. This area is located in the Thiruninravur-A village under the Avadi SRO, classified as Residential Class II Type - III.

How the guideline value of Muthamizh Nagar has changed

The guideline value for Muthamizh Nagar has undergone several revisions over the years. The earliest recorded figure is from the 2017 revision, which was Rs 469 per sq.ft. This increased to Rs 700 per sq.ft in the 2023 revision, marking a significant rise of 49%. The most recent revision in 2024 set the guideline value at Rs 750 per sq.ft, reflecting a 7% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 60%. Notably, there are no figures available for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Thiruninravur-A

In Thiruninravur-A, there are 382 streets under the Avadi SRO with a 2024 guideline value ranging from Rs 440 to Rs 2,750 per sq.ft. The median value is Rs 750 per sq.ft, which is equal to the guideline value for Muthamizh Nagar.

• M.V.Nagar: Rs 750 per sq.ft (2024)
• Muthaiya Lay Out Road & Streets: Rs 440 per sq.ft (2024)
• Murugesan Nagar 1st Main Road & Street: Rs 1,200 per sq.ft (2024)
• Murugan Koil St: Rs 750 per sq.ft (2024)
• M.T.H.ROAD to RAILWAY STATION ROAD: Rs 840 per sq.ft (2024)
• M.T.H.Road: Rs 1,210 per sq.ft (2024)

Stamp duty and registration fee for property in Muthamizh Nagar

For a 1,000 sq.ft plot at the current rate of Rs 750 per sq.ft, the guideline value amounts to Rs 7,50,000. The stamp duty at 7% would be Rs 52,500, and the registration fee at 2% would be Rs 15,000, totaling Rs 67,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Muthamizh Nagar?

The Sub Registrar Office that covers Muthamizh Nagar is the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Thiruninravur-A

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

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Muthamizh Nagar?

The current guideline value of Muthamizh Nagar is Rs 750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 469 per sq.ft in 2017 to Rs 750 per sq.ft in 2024, marking a total increase of 60% over this period.

What are the stamp duty and registration fees for properties in Muthamizh Nagar?

The stamp duty is 7% and the registration fee is 2%. For a 1,000 sq.ft plot at the current guideline value, the total fees would amount to Rs 67,500.

Which Sub Registrar Office is responsible for Muthamizh Nagar?

The Avadi Sub Registrar Office is responsible for Muthamizh Nagar, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.

What is the land classification of Muthamizh Nagar?

Muthamizh Nagar is classified as Residential Class II Type - III according to the guidelines set by the Avadi SRO.