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 Panangottur village and falls under the Chengleput Joint II SRO. The land classification for this street is Residential Class II Type - I.

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

The guideline value for 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 2017. Following this, the value increased significantly to Rs 500 per sq.ft in 2023, and finally rose to Rs 550 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year. Overall, from 2012 to 2024, there has been a 10% increase in the guideline value.

In terms of percentage changes, the value increased by 49% from 2017 to 2023, and decreased by 33% from 2012 to 2017. The register shows no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Panangottur

In Panangottur, there are 419 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 2,200 per sq.ft. The median guideline value for the village is Rs 990 per sq.ft, placing Muthu Nagar Kattankilathur (Ward -17) 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 guideline value of Rs 550 per sq.ft, the total guideline value would be Rs 5,50,000. The stamp duty at 7% would amount to Rs 38,500, while the registration fee at 2% would be Rs 11,000, bringing the total fees together to Rs 49,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

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

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

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

The guideline value plays a crucial role in the registration process when buying or selling property in Panangottur. It serves as the basis for calculating stamp duty and registration fees, ensuring that these costs are aligned with the official valuation of the property.

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

Frequently asked questions

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

The current guideline value for 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 this street?

The land classification for Muthu Nagar Kattankilathur (Ward -17) is Residential Class II Type - I.

Where can I find the registration office for this area?

The registration office for Muthu Nagar Kattankilathur (Ward -17) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price of the property, whichever is higher. For example, for a property valued at Rs 5,50,000, the total fees would include a 7% stamp duty and a 2% registration fee.