Guideline Value for MUTHULAKSHMI NAGAR

Muthulakshmi Nagar guideline value

The current guideline value of Muthulakshmi Nagar is Rs 330 per sq.ft, effective from 1 July 2024. This area is located in Vichoor_B village under the Thiruvottiyur SRO, classified as Residential Class I Type - III.

How the guideline value of Muthulakshmi Nagar has changed

In the 2017 revision, the guideline value was Rs 201 per sq.ft. This increased to Rs 300 per sq.ft in the 2023 revision, marking a significant rise of 49%. The current guideline value of Rs 330 per sq.ft in the 2024 revision reflects a further increase of 10% from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Vichoor_B

In Vichoor_B, there are 45 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 330 to Rs 550 per sq.ft, with a median value of Rs 485 per sq.ft. Muthulakshmi Nagar's current guideline value is below this median.

• Muthaalamman Nagar: Rs 330 per sq.ft (2024)
• New Sun City: Rs 550 per sq.ft (2024)
• Meenakshi Nagar: Rs 330 per sq.ft (2024)
• Manjula Nagar: Rs 440 per sq.ft (2024)
• Lakshmi Nagar/Ext: Rs 330 per sq.ft (2024)
• Lakshmi Nagar All Phase: Rs 330 per sq.ft (2024)

Stamp duty and registration fee for property in Muthulakshmi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 330 per sq.ft, the total guideline value amounts to Rs 3,30,000. The stamp duty at 7% would be Rs 23,100, and the registration fee at 2% would be Rs 6,600, bringing the total fees to Rs 29,700. 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 Muthulakshmi Nagar?

The Muthulakshmi Nagar area is covered by the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions as it determines the minimum value at which a property can be registered. It is used to calculate the stamp duty and registration fees applicable during the buying or selling process.

When a property is sold, the higher of the guideline value or the sale price is taken into account for the calculation of these fees. This ensures that both the buyer and seller adhere to the legal requirements set forth by the Registration Department.

Frequently asked questions

What is the current guideline value of Muthulakshmi Nagar?

The current guideline value of Muthulakshmi Nagar is Rs 330 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 201 per sq.ft in 2017 to Rs 300 per sq.ft in 2023, and then to Rs 330 per sq.ft in 2024. This reflects an overall increase of 64% from 2017 to 2024.

What is the median guideline value in Vichoor_B?

The median guideline value in Vichoor_B for 2024 is Rs 485 per sq.ft. Muthulakshmi Nagar's guideline value is below this median.

What are the stamp duty and registration fees for Muthulakshmi Nagar?

For a 1,000 sq.ft plot, the total guideline value is Rs 3,30,000. The stamp duty would be Rs 23,100 and the registration fee would be Rs 6,600, totaling Rs 29,700.

Which office handles property registration for Muthulakshmi Nagar?

The Thiruvottiyur Sub Registrar Office handles property registration for Muthulakshmi Nagar, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.