Guideline Value for MUTHU NAGAR

Muthu Nagar guideline value

The current guideline value of Muthu Nagar is Rs 100 per sq.ft, effective from 1 July 2024. This street is located in Kalpakkam village, under the Ponneri SRO, and is classified as Residential Class II Type - I.

How the guideline value of Muthu Nagar has changed

The guideline value for Muthu Nagar has seen several revisions over the years. In the 2012 revision, the value was set at Rs 100 per sq.ft. This remained unchanged in the 2017 revision, where it was also Rs 100 per sq.ft. However, prior to 2012, the 2017 revision marked a significant increase from Rs 67 per sq.ft in 2017, reflecting a 49% rise. The 2023 revision maintained the value at Rs 100 per sq.ft, and the 2024 revision also retains this figure, showing no change from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has remained at Rs 100 per sq.ft, indicating stability in this period.

Guideline values in Kalpakkam

In Kalpakkam, there are 21 streets under the Ponneri SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 100 per sq.ft, with a median value of Rs 100 per sq.ft. Muthu Nagar's 2024 figure aligns with this median.

• Nagammal Nagar: Rs 100 per sq.ft (2024)
• Nalini Krishnan Nagar: Rs 100 per sq.ft (2024)
• M K M Nagar: Rs 100 per sq.ft (2024)
• Nithyas Garden: Rs 100 per sq.ft (2024)
• Leelavathy Nagar: Rs 100 per sq.ft (2024)
• Lakshmi Nagar: Rs 100 per sq.ft (2024)

Stamp duty and registration fee for property in Muthu Nagar

For a 1,000 sq.ft plot at the current rate of Rs 100 per sq.ft, the guideline value would be Rs 1,00,000. The stamp duty at 7% would amount to Rs 7,000, and the registration fee at 2% would be Rs 2,000, totaling Rs 9,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Muthu Nagar?

Muthu Nagar falls under the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kalpakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

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

Frequently asked questions

What is the current guideline value of Muthu Nagar?

The current guideline value of Muthu Nagar is Rs 100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Muthu Nagar has remained at Rs 100 per sq.ft since the 2012 revision, with a notable increase from Rs 67 per sq.ft in 2017. The value has not changed from 2023 to 2024.

What are the other streets in Kalpakkam with the same guideline value?

Other streets in Kalpakkam, such as Nagammal Nagar, Nalini Krishnan Nagar, M K M Nagar, Nithyas Garden, Leelavathy Nagar, and Lakshmi Nagar, also have a guideline value of Rs 100 per sq.ft for 2024.

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

For a property valued at Rs 1,00,000, the stamp duty would be Rs 7,000 and the registration fee would be Rs 2,000, totaling Rs 9,000. These fees are based on the higher of the guideline value or the sale price.

Which office handles the registration for Muthu Nagar?

The Ponneri Sub Registrar Office handles the registration for Muthu Nagar, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.