Guideline Value for MUTHU NAGAR KATTANKILATHUR (WARD -17)

Muthu Nagar Kattankilathur (Ward -17) guideline value

The current guideline value of Muthu Nagar Kattankilathur (Ward -17) is Rs 550 per sq.ft, effective from 1 July 2024. This area is located in Kattankollatur village and falls under the Chengleput Joint II SRO, classified as Residential Class II Type - I.

How the guideline value of Muthu Nagar Kattankilathur (Ward -17) has changed

The guideline value of Muthu Nagar Kattankilathur (Ward -17) has undergone several revisions over the years. The 2012 revision set the value at Rs 500 per sq.ft, which then decreased to Rs 335 per sq.ft in the 2017 revision, marking a decline of 33%. However, the value saw a significant increase to Rs 500 per sq.ft in the 2023 revision, reflecting a rise of 49%. The most recent 2024 revision has further increased the guideline value to Rs 550 per sq.ft, a change of 10% from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Kattankollatur

In Kattankollatur, there are 453 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 3,612 per sq.ft, with a median value of Rs 1,100 per sq.ft. Muthu Nagar Kattankilathur (Ward -17) is below this median.

• Muthuramalinga Sethupathy Salai(1st Cross St) (Ward -8): Rs 1,320 per sq.ft (2024)
• Muthumari Street (Kr): Rs 660 per sq.ft (2024)
• Muthumariamman Koil Street (Ward -17): Rs 550 per sq.ft (2024)
• Muthumariamman Koil Street (Ward -15): Rs 440 per sq.ft (2024)
• Nagavalliamman Koil Street (Ward -2): Rs 1,320 per sq.ft (2024)
• Nagavalliamman Koil Street(Ward -8): Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Muthu Nagar Kattankilathur (Ward -17)

For a 1,000 sq.ft plot at the current rate of Rs 550 per sq.ft, the guideline value amounts to Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, totaling Rs 49,500. Duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Muthu Nagar Kattankilathur (Ward -17)?

The Sub Registrar Office that covers Muthu Nagar Kattankilathur (Ward -17) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role during the registration of property transactions in Kattankollatur. It is used to calculate the stamp duty and registration fees that buyers must pay when acquiring property in the area.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to determine the applicable stamp duty. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Muthu Nagar Kattankilathur (Ward -17)?

The current guideline value of Muthu Nagar Kattankilathur (Ward -17) 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 increased 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 Nagar Kattankilathur?

Muthu Nagar Kattankilathur is classified as Residential Class II Type - I under the Chengleput Joint II SRO.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the higher of the guideline value or the sale price, while the registration fee is charged at 2%. For example, for a 1,000 sq.ft plot at Rs 550 per sq.ft, the total stamp duty and registration fees would amount to Rs 49,500.

Where is the Sub Registrar Office for Muthu Nagar Kattankilathur located?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone.