Guideline Value for MUTHU NAGAR

Muthu Nagar guideline value

The current guideline value of Muthu Nagar, located in Mugaiyoor village under the Cheyyur SRO, is Rs 600 per sq.ft as per the 2024 revision effective from 1 July 2024. The land classification for this area is Residential Special Type - II.

How the guideline value of Muthu Nagar has changed

In the 2023 revision, the guideline value for Muthu Nagar was also Rs 600 per sq.ft, indicating no change from the previous year. The register has no figures for the years 2017, 2012, 2007, 2003, and 2002 for this street.

Thus, the guideline value has remained consistent at Rs 600 per sq.ft from 2023 to 2024, showing a change of +0%. The lack of figures in earlier revisions suggests stability in the guideline value for this street over the years.

Guideline values in Mugaiyoor

Mugaiyoor village has a range of guideline values across its streets, with seven streets under the Cheyyur SRO carrying a 2024 figure between Rs 400 to Rs 1,000 per sq.ft. The median value for these streets is Rs 600 per sq.ft, which matches the guideline value for Muthu Nagar.

• Radiance Marina: Rs 600 per sq.ft (2024)
• Sea Breaze: Rs 400 per sq.ft (2024)
• Happy Bay Annexe: Rs 400 per sq.ft (2024)
• Happy Bay: Rs 400 per sq.ft (2024)
• Ocean Abode: Rs 1,000 per sq.ft (2024)
• Vanavil Bala Beach: Rs 600 per sq.ft (2024)

Stamp duty and registration fee for property in Muthu Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 600 per sq.ft, the total guideline value amounts to Rs 6,00,000. The stamp duty at 7% would be Rs 42,000, and the registration fee at 2% would be Rs 12,000, bringing the total fees together to Rs 54,000. It is important to note that the 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?

The Sub Registrar Office that covers Muthu Nagar is the Cheyyur Sub Registrar Office, located at 3/156, Salt Road, Cheyyur- 603 302, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Mugaiyoor. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value is compared to the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Muthu Nagar?

The current guideline value of Muthu Nagar is Rs 600 per sq.ft as per the 2024 revision effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 600 per sq.ft for both the 2023 and 2024 revisions, showing no change. There are no figures available for the years 2017, 2012, 2007, 2003, and 2002 for this street.

What is the land classification for Muthu Nagar?

The land classification for Muthu Nagar is Residential Special Type - II, indicating its designated use for residential purposes.

What are the stamp duty and registration fees for property in Muthu Nagar?

For a property valued at Rs 6,00,000, the stamp duty would be Rs 42,000 and the registration fee would be Rs 12,000, totaling Rs 54,000. These fees are based on the guideline value or the sale price, whichever is higher.

Where is the Cheyyur Sub Registrar Office located?

The Cheyyur Sub Registrar Office is located at 3/156, Salt Road, Cheyyur- 603 302, Chengalpattu registration zone. This office handles the registration of properties in Muthu Nagar.