Guideline Value for MUTHU NAGAR CITY

Muthu Nagar City guideline value

The current guideline value of Muthu Nagar City, located in Voyalur village under the Ponneri SRO, is Rs 100 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - I land classification.

How the guideline value of Muthu Nagar City has changed

In the 2017 revision, the guideline value was Rs 67 per sq.ft. This figure increased significantly to Rs 100 per sq.ft in the 2023 revision, marking a 49% rise. The 2024 revision maintained the same value of Rs 100 per sq.ft, indicating no change from the previous year.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for Muthu Nagar City. Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 49%.

Guideline values in Voyalur

In Voyalur, there are 17 streets that carry a guideline value for 2024, ranging from Rs 100 to Rs 150 per sq.ft. The median value for these streets is Rs 100 per sq.ft, which is equal to the guideline value for Muthu Nagar City.

• Mahalakshmi Nagar II: Rs 126 per sq.ft (2024)
• Sabapathi Nagar: Rs 100 per sq.ft (2024)
• J.P.Nagar: Rs 100 per sq.ft (2024)
• Indhira Nagar: Rs 100 per sq.ft (2024)
• Hindustan Nagar: Rs 126 per sq.ft (2024)
• Green City: Rs 126 per sq.ft (2024)

Stamp duty and registration fee for property in Muthu Nagar City

For a 1,000 sq.ft plot at the current guideline value of Rs 100 per sq.ft, the total guideline value amounts to Rs 1,00,000. The stamp duty at 7% would be Rs 7,000, and the registration fee at 2% would be Rs 2,000, making the total charges Rs 9,000. Duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Muthu Nagar City?

The Sub Registrar Office that covers Muthu Nagar City is the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for more information.

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

The guideline value is a critical factor when registering property in Voyalur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in property transactions.

When buying or selling property, the guideline value influences the stamp duty and registration fees. Buyers should be aware that these fees are calculated based on the higher of the guideline value or the sale price, which ensures that the government receives due revenue from property transactions.

Frequently asked questions

What is the current guideline value of Muthu Nagar City?

The current guideline value of Muthu Nagar City is Rs 100 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed from 2017 to 2024?

From the 2017 revision to the 2024 revision, the guideline value increased by 49%, going from Rs 67 per sq.ft to Rs 100 per sq.ft.

What is the land classification for Muthu Nagar City?

Muthu Nagar City is classified as Residential Class II Type - I, indicating its suitability for residential purposes.

Where is the Ponneri Sub Registrar Office located?

The Ponneri Sub Registrar Office is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.

How is stamp duty calculated for properties in Muthu Nagar City?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 1,00,000, the stamp duty would be Rs 7,000 at 7% of the guideline value.