Guideline Value

Corporate

Guideline Value for MUTHU NAGAR

₹150/sq.ft.

The guideline value for Muthu Nagar in Vothivakkam village (Chengleput Joint I SRO, Chengalpattu zone) is Rs 150 per sq.ft, effective 1 July 2024. The land classification is Residential Class Ii Type - I. Source: TNReginet guideline value register.

Last updated:

Chengalpattu

Zone

Vothivakkam

Village

Chengleput Joint I

SRO

Residential Class II Type - I
History
Period Guideline Value
From 1-7-2024 ₹150 /sq.ft.
From 1-4-2023 ₹150 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹167 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹250 /sq.ft.
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

10, Kancheepuram Main Road, Chengalpattu 603 002.
044-27423054
[email protected]

DRO (District Registrar Office)

No.10, Kancheepuram High Road, Chengalpet - 603002
044-27423692
[email protected], [email protected]

DIG (Deputy Inspector General)

No 10., Kancheepuram High Road., Chenglepet
null
[email protected]
Records for a plot on Muthu Nagar

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Muthu Nagar guideline value

The current guideline value of Muthu Nagar in Vothivakkam village is Rs 150 per sq.ft, effective from 1 July 2024. This area falls under the Chengleput Joint I SRO and is classified as Residential Class II Type - I.

How the guideline value of Muthu Nagar has changed

Over the years, the guideline value of Muthu Nagar has seen several revisions. The earliest recorded value is from 2012, which was Rs 250 per sq.ft. This was followed by a decrease to Rs 167 per sq.ft in 2017, marking a decline of 33%. The 2023 revision maintained this value at Rs 150 per sq.ft, which reflects a further drop of 10%. The current revision in 2024 also holds the value at Rs 150 per sq.ft, indicating no change from the previous year. The register has no figures for the years 2002, 2003, and 2007 for this street.

Overall, from the 2012 revision to the current 2024 revision, there has been a significant decrease of 40% in the guideline value. This trend shows a consistent reduction in the value over the years, particularly from 2012 to 2017 and then stabilizing in the subsequent revisions.

Guideline values in Vothivakkam

In Vothivakkam, there are five streets under the Chengleput Joint I SRO that carry a 2024 guideline value, ranging from Rs 150 to Rs 400 per sq.ft. The median value for these streets is Rs 400 per sq.ft, placing Muthu Nagar's 2024 figure below that median.

Stamp duty and registration fee for property in Muthu Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 150 per sq.ft, the total guideline value amounts to Rs 1,50,000. The stamp duty, charged at 7%, would be Rs 10,500, and the registration fee at 2% would be Rs 3,000. Thus, the total fees together would be Rs 13,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Muthu Nagar?

The Sub Registrar Office that covers Muthu Nagar is the Chengleput Joint I Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Vothivakkam, as it determines the minimum value on which stamp duty and registration fees are calculated. When buying or selling property, the guideline value is referenced to ensure that the transaction is compliant with local regulations.

During the registration process, the buyer must pay the applicable 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 in the area.

Frequently asked questions

What is the current guideline value of Muthu Nagar?

The current guideline value of Muthu Nagar is Rs 150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has decreased from Rs 250 per sq.ft in 2012 to Rs 150 per sq.ft in 2024, representing an overall decline of 40% over this period.

What are the other streets in Vothivakkam and their guideline values?

Other streets in Vothivakkam include SaiMuthuNagar at Rs 200 per sq.ft, Sakthi Nagar at Rs 400 per sq.ft, Sakthi Nagar Phase 2 at Rs 400 per sq.ft, and Maruthi Nagar at Rs 400 per sq.ft, all for the year 2024.

Where is the Chengleput Joint I SRO located?

The Chengleput Joint I SRO is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone.

How is stamp duty calculated in Muthu Nagar?

Stamp duty in Muthu Nagar is calculated based on the higher of the guideline value or the sale price. The current rate for stamp duty is 7%, while the registration fee is 2% of the guideline value.