Guideline Value for MUTHU COMPLEX

Muthu Complex guideline value

The current guideline value for Muthu Complex in Kadappakkam village, under the Thiruvottiyur SRO, is Rs 1,002 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class I Type - II.

How the guideline value of Muthu Complex has changed

The guideline value for Muthu Complex has seen several revisions over the years. In 2007, the value was Rs 250 per sq.ft, which increased to Rs 600 per sq.ft in 2012. However, it then decreased to Rs 402 per sq.ft in 2017. The subsequent revision in 2023 set the value at Rs 1,000 per sq.ft, and the most recent revision in 2024 raised it slightly to Rs 1,002 per sq.ft. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

From 2007 to 2024, the overall increase in the guideline value is 301%. The jump from 2017 to 2023 was significant at 149%, while the change from 2012 to 2017 saw a decrease of 33%. The value remained stable from 2023 to 2024 with no percentage change.

Guideline values in Kadappakkam

In Kadappakkam, there are 17 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 1,001 to Rs 1,200 per sq.ft, with the median being Rs 1,002 per sq.ft. Muthu Complex's 2024 figure aligns perfectly with this median.

• Manali New Town (T N H B & C M D A): Rs 1,100 per sq.ft (2024)
• Madras Redhills Road: Rs 1,002 per sq.ft (2024)
• Perumal Koil Street: Rs 1,002 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 1,002 per sq.ft (2024)
• Ponneri High Road: Rs 1,003 per sq.ft (2024)
• K.G.L. Nagar: Rs 1,002 per sq.ft (2024)

Stamp duty and registration fee for property in Muthu Complex

For a 1,000 sq.ft plot at the current guideline value of Rs 1,002 per sq.ft, the total guideline value amounts to Rs 10,02,000. The stamp duty at 7% would be Rs 70,140, and the registration fee at 2% would be Rs 20,040, bringing the total cost for these fees to Rs 90,180. 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 own fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Muthu Complex?

The Muthu Complex is covered by the Thiruvottiyur Sub Registrar Office located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. For more information, you can find your SRO.

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

The guideline value plays a crucial role in the registration process of property transactions in Kadappakkam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when a property is bought or sold.

When registering a property, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value for Muthu Complex?

The current guideline value for Muthu Complex is Rs 1,002 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 250 per sq.ft in 2007 to Rs 1,002 per sq.ft in 2024, with significant changes occurring in 2017 and 2023.

What is the land classification for Muthu Complex?

The land classification for Muthu Complex is Residential Class I Type - II.

Where is the Thiruvottiyur Sub Registrar Office located?

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

How can I calculate stamp duty and registration fees?

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