Guideline Value for MUTHU NAGAR

Muthu Nagar guideline value

The current guideline value of Muthu Nagar, located in Kumaravadi village under the Salavakkam SRO, is Rs 151 per sq.ft as per the 2024 revision, effective from 1 July 2024. The land classification for this area is New House Site Type -III (Approved Lay-Out).

How the guideline value of Muthu Nagar has changed

The guideline value for Muthu Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 150 per sq.ft, which then decreased to Rs 100 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 150 per sq.ft in 2023, and finally to Rs 151 per sq.ft in the 2024 revision, marking a 1% increase from the previous year. It is important to note that there are no registered figures for the years 2002, 2003, and 2007 for this street.

Overall, from 2012 to 2024, the guideline value has seen a marginal increase of 1%. The jump from Rs 100 per sq.ft in 2017 to Rs 150 per sq.ft in 2023 represents a substantial increase of 50% within that period, while the decrease from 2012 to 2017 was 33%.

Guideline values in Kumaravadi

In Kumaravadi village, there are five streets under the Salavakkam SRO that have a 2024 guideline value ranging from Rs 150 to Rs 700 per sq.ft. The median guideline value for these streets is Rs 151 per sq.ft, which is equal to the guideline value of Muthu Nagar.

• Kurunji Nagar: Rs 151 per sq.ft (2024)
• Police Staff Residency: Rs 151 per sq.ft (2024)
• Krishna Nagar: Rs 150 per sq.ft (2024)
• Amber: Rs 700 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 151 per sq.ft, the total guideline value amounts to Rs 1,51,000. The stamp duty at 7% would be Rs 10,570, and the registration fee at 2% would be Rs 3,020, bringing the total fees to Rs 13,590. It is important to note that 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 further calculations.

Which Sub Registrar Office covers Muthu Nagar?

The Sub Registrar Office that covers Muthu Nagar is the Salavakkam Sub Registrar Office, located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor during the registration of property transactions in Kumaravadi. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these charges reflect the official value of the property being registered.

When buying or selling property, the guideline value helps both parties understand the financial implications of the transaction. It is essential to consider this value to ensure compliance with local regulations and to accurately assess the costs involved in the property transfer process.

Frequently asked questions

What is the current guideline value of Muthu Nagar?

The current guideline value of Muthu Nagar is Rs 151 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 changed from Rs 150 per sq.ft in 2012 to Rs 100 per sq.ft in 2017, then to Rs 150 per sq.ft in 2023, and finally to Rs 151 per sq.ft in 2024.

Is there a guideline value for Muthu Nagar in previous years?

There are no registered figures for Muthu Nagar for the years 2002, 2003, and 2007. The available revisions are from 2012, 2017, 2023, and 2024.

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

For a plot of 1,000 sq.ft at the current guideline value, the total fees would be Rs 13,590, which includes stamp duty and registration fees based on the guideline value.

Which office handles property registration in Muthu Nagar?

The Salavakkam Sub Registrar Office handles property registration for Muthu Nagar, located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone.