Guideline Value for MUTHUKUMARAN NAGAR PART-I

Muthukumaran Nagar Part-I guideline value

The current guideline value of Muthukumaran Nagar Part-I is Rs 1,000 per sq.ft, effective from 1 July 2024. This area is located in Siruniyam village and falls under the Redhills SRO, classified as Residential Special Type - II.

How the guideline value of Muthukumaran Nagar Part-I has changed

The guideline value for Muthukumaran Nagar Part-I has remained consistent across several revisions. The register shows that the guideline value was Rs 1,000 per sq.ft in the 2017 revision, the same amount in the 2023 revision, and it continues at Rs 1,000 per sq.ft in the 2024 revision. Notably, there are no figures available for this street in the revisions of 2002, 2003, 2007, and 2012.

In terms of changes, there has been a 0% increase from 2017 to 2023, and similarly, there has been no change from 2023 to 2024. Overall, the guideline value has remained unchanged from 2017 to 2024.

Guideline values in Siruniyam

In Siruniyam, there are 32 streets under the Redhills SRO with a 2024 guideline value ranging from Rs 220 to Rs 1,500 per sq.ft. The median value for these streets is Rs 440 per sq.ft, placing Muthukumaran Nagar Part-I's 2024 guideline value above this median.

• Muthukumaran Nagar Part II: 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-I

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

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Muthukumaran Nagar Part-I?

The Sub Registrar Office that covers Muthukumaran Nagar Part-I 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 details.

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

The guideline value is a crucial factor in property transactions in Siruniyam, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider the guideline value to understand the financial implications of their transactions.

At the time of registration, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Muthukumaran Nagar Part-I?

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

How has the guideline value changed over the years?

The guideline value has remained unchanged at Rs 1,000 per sq.ft from 2017 to 2024, with no figures available for the revisions in 2002, 2003, 2007, and 2012.

What is the land classification for Muthukumaran Nagar Part-I?

Muthukumaran Nagar Part-I is classified as Residential Special Type - II, which indicates its intended use for residential purposes.

Where can I find the registration office for Muthukumaran Nagar Part-I?

The registration office for Muthukumaran Nagar Part-I is the Redhills Sub Registrar Office, located on Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value, while the registration fee is 2% of the guideline value. These fees are based on the higher of the guideline value or the sale price.