Guideline Value for MUTHU THOTTAM

Muthu Thottam guideline value

The current guideline value of Muthu Thottam is Rs 3,800 per sq.ft, effective from 1 July 2024. This area is located in Puliyur village under the Kodambakkam SRO, classified as Residential Class IV Type - III.

How the guideline value of Muthu Thottam has changed

The guideline value for Muthu Thottam has undergone several revisions since 2002. In 2002, the value was Rs 750 per sq.ft, which increased to Rs 824 per sq.ft in 2003, marking a 10% rise. The value then saw a further increase to Rs 1,050 per sq.ft in 2007, reflecting a 27% change. By 2012, the guideline value reached Rs 3,500 per sq.ft, which was a significant jump of 233% from the previous revision. However, in 2017, it decreased to Rs 2,345 per sq.ft, showing a decline of 33%. The most recent revision in 2024 has set the value at Rs 3,800 per sq.ft, representing a 62% increase from 2017.

It is important to note that there are no figures available for the year 2023 for this street. Overall, from 2002 to 2024, the guideline value has increased by 407%.

Guideline values in Puliyur

In Puliyur village, there are 648 streets under the Kodambakkam SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 14,300 per sq.ft, with a median value of Rs 5,800 per sq.ft. The guideline value of Muthu Thottam is below this median.

• Muthurulandi Colony 2nd Main Road: Rs 3,800 per sq.ft (2024)
• Muthurulandi Colony 1st Main Road: Rs 3,800 per sq.ft (2024)
• Muthurulandi Colony: Rs 3,800 per sq.ft (2024)
• MUTHUMANI STREET (Varadharajpet 3rd Street): Rs 3,800 per sq.ft (2024)
• Muthu Irulandi Colony 3 Rd Cross Street: Rs 3,800 per sq.ft (2024)
• Muthu Irulandi Colony 2 Nd Street: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Muthu Thottam

For a 1,000 sq.ft plot at the current guideline value of Rs 3,800 per sq.ft, the total guideline value amounts to Rs 38,00,000. The stamp duty charged at 7% would be Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, totaling Rs 3,42,000. 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 more details.

Which Sub Registrar Office covers Muthu Thottam?

The Sub Registrar Office that covers Muthu Thottam is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Puliyur. It is used to calculate the stamp duty and registration fees, which are mandatory for property transactions.

When a property is registered, the guideline value or the sale price, whichever is higher, is taken into account for calculating the applicable fees. This ensures that the transaction is officially documented and that the necessary taxes are collected by the government.

Frequently asked questions

What is the current guideline value of Muthu Thottam?

The current guideline value of Muthu Thottam is Rs 3,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed multiple times, starting from Rs 750 per sq.ft in 2002 to Rs 3,800 per sq.ft in 2024, showing an overall increase of 407% over this period.

What is the classification of land in Muthu Thottam?

Muthu Thottam is classified as Residential Class IV Type - III, indicating its use for residential purposes.

Where can I find the Kodambakkam Sub Registrar Office?

The Kodambakkam Sub Registrar Office is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

How is stamp duty calculated on property in Muthu Thottam?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the stamp duty would be Rs 2,66,000.