Guideline Value for MUTHU ESTATE

Muthu Estate guideline value

The current guideline value of Muthu Estate in Pammathukulam village is Rs 550 per sq.ft, effective from 1 July 2024. This property falls under the Redhills SRO and is classified as Residential Class II Type - I.

How the guideline value of Muthu Estate has changed

The guideline value for Muthu Estate has undergone several revisions over the years. In 2012, the value was Rs 500 per sq.ft, which then decreased to Rs 335 per sq.ft in 2017. Following this, the value increased significantly to Rs 500 per sq.ft in 2023, and then further rose to Rs 550 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, comparing the revisions from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Pammathukulam

Pammathukulam village has 101 streets under the Redhills SRO, with guideline values ranging from Rs 330 to Rs 825 per sq.ft. The median guideline value for these streets is Rs 550 per sq.ft, which aligns with the current value for Muthu Estate.

• Nalli Nagar: Rs 550 per sq.ft (2024)
• New Valli Nagar: Rs 550 per sq.ft (2024)
• N.T.R. Land: Rs 660 per sq.ft (2024)
• Om Ganapathy Nagar: Rs 820 per sq.ft (2024)
• Mariamman Nagar: Rs 660 per sq.ft (2024)
• Om Velayutham Nagar: Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Muthu Estate

For a 1,000 sq.ft plot at the current guideline value of Rs 5,50,000, the stamp duty at 7% would amount to Rs 38,500, and the registration fee at 2% would be Rs 11,000, totaling Rs 49,500. 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 Muthu Estate?

The Muthu Estate is covered by the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in property transactions in Pammathukulam. It serves as a benchmark for determining the stamp duty and registration fees applicable during property registration. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value helps in assessing the fair value for taxation purposes. It is essential for both parties to be aware of the current guideline value to avoid discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Muthu Estate?

The current guideline value of Muthu Estate is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2012 to Rs 335 per sq.ft in 2017, then to Rs 500 per sq.ft in 2023, and finally to Rs 550 per sq.ft in 2024.

What is the land classification for Muthu Estate?

Muthu Estate is classified as Residential Class II Type - I under the current guidelines.

What are the stamp duty and registration fees for properties in Muthu Estate?

For a property valued at Rs 5,50,000, the stamp duty would be Rs 38,500 and the registration fee would be Rs 11,000, totaling Rs 49,500.

Which office handles the registration for Muthu Estate?

The Redhills Sub Registrar Office handles the registration for Muthu Estate, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.