Guideline Value for MUTHUKUMARAN NAGAR PART II

Muthukumaran Nagar Part II guideline value

The current guideline value of Muthukumaran Nagar Part II is Rs 1,000 per sq.ft. This area is located in Siruniyam village and falls under the Redhills SRO. The land classification for this street is Residential Special Type - II.

How the guideline value of Muthukumaran Nagar Part II has changed

According to the guideline value register, there are no figures available for Muthukumaran Nagar Part II for the years 2002, 2003, 2007, 2012, and 2017. The 2023 revision recorded the guideline value at Rs 1,000 per sq.ft, which remained unchanged in the 2024 revision, effective from 1 July 2024.

From the 2023 to 2024 revision, there was a change of +0%. Therefore, the guideline value for Muthukumaran Nagar Part II has consistently been Rs 1,000 per sq.ft since 2023.

Guideline values in Siruniyam

In Siruniyam, 32 streets under the Redhills SRO have a 2024 guideline value ranging from Rs 220 to Rs 1,500 per sq.ft, with a median value of Rs 440 per sq.ft. Muthukumaran Nagar Part II's guideline value is above this median.

• Muthukumaran Nagar Part-I: Rs 1,000 per sq.ft (2024)
• Nagathamman Koil Street (Siruniyam Colony): Rs 220 per sq.ft (2024)
• Parthasarathy Nagar: Rs 825 per sq.ft (2024)
• Parthasarathy Nagar Annex: Rs 825 per sq.ft (2024)
• Madha Koil Street: Rs 330 per sq.ft (2024)
• Perumal Koil Street: Rs 440 per sq.ft (2024)

Stamp duty and registration fee for property in Muthukumaran Nagar Part II

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value would be Rs 10,00,000. The stamp duty at 7% would amount to Rs 70,000, and the registration fee at 2% would be Rs 20,000, making the total fees together Rs 90,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Muthukumaran Nagar Part II?

The Sub Registrar Office that covers Muthukumaran Nagar Part II is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Siruniyam. It serves as the base value for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When a property is bought or sold, the guideline value is compared against the sale price. The higher of the two values is used to determine the stamp duty and registration fees payable, ensuring compliance with the regulations set forth by the Registration Department.

Frequently asked questions

What is the current guideline value of Muthukumaran Nagar Part II?

The current guideline value of Muthukumaran Nagar Part II is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

There are no figures available for the years 2002, 2003, 2007, 2012, and 2017. The guideline value was Rs 1,000 per sq.ft in both the 2023 and 2024 revisions, indicating no change between these two years.

What are the guideline values of other streets in Siruniyam?

Other streets in Siruniyam have varying guideline values, ranging from Rs 220 to Rs 1,500 per sq.ft. Muthukumaran Nagar Part II's value is above the median of Rs 440 per sq.ft.

What fees are associated with buying property in Muthukumaran Nagar Part II?

The fees include a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot, the total fees would amount to Rs 90,000.

Where is the Sub Registrar Office for Muthukumaran Nagar Part II located?

The Redhills Sub Registrar Office is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. This office handles the registration of property transactions for Muthukumaran Nagar Part II.