Guideline Value for MUTHUMANI NAGAR

Muthumani Nagar guideline value

The current guideline value of Muthumani Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024. This locality is situated in Vengaivasal village, under the Selaiyur SRO, and is classified as Industries Special Type - I.

How the guideline value of Muthumani Nagar has changed

The guideline value for Muthumani Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which then decreased to Rs 2,010 per sq.ft in the 2017 revision. However, the value saw a significant increase to Rs 3,000 per sq.ft in the 2023 revision, followed by another increase to Rs 3,300 per sq.ft in the 2024 revision.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. The 2023 to 2024 revision reflects a 10% increase. Overall, comparing the 2012 revision to the current 2024 value, there has been a 10% increase. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Vengaivasal

In Vengaivasal, there are 117 streets under the Selaiyur SRO with a 2024 guideline value ranging from Rs 850 to Rs 4,800 per sq.ft. Muthumani Nagar's 2024 guideline value of Rs 3,300 per sq.ft is above the median value of Rs 2,700 per sq.ft for the village.

• Mohi's Naple's: Rs 3,000 per sq.ft (2024)
• Mohi Florence Phase-III: Rs 2,900 per sq.ft (2024)
• Mohi Florence Phase-5: Rs 2,900 per sq.ft (2024)
• Nehru Street: Rs 1,650 per sq.ft (2024)
• Megala Nagar: Rs 1,900 per sq.ft (2024)
• Nheru Nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Muthumani Nagar

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. 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 Muthumani Nagar?

The Sub Registrar Office covering Muthumani Nagar is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Vengaivasal. It serves as a benchmark for calculating the stamp duty and registration fees that buyers must pay when acquiring property in the area.

When selling property, the guideline value ensures that the transaction is recorded accurately, reflecting the official value set by the registration department. This helps maintain transparency and consistency in property dealings within the region.

Frequently asked questions

What is the current guideline value of Muthumani Nagar?

The current guideline value of Muthumani Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then increased to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What is the land classification for Muthumani Nagar?

Muthumani Nagar is classified as Industries Special Type - I, indicating its suitability for industrial purposes.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is stamp duty calculated for properties in Muthumani Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 3,300 per sq.ft has a total guideline value of Rs 33,00,000, leading to a stamp duty of Rs 2,31,000.