Guideline Value for MUTHUMARIYAMMAN NAGAR

Muthumariyamman Nagar guideline value

The current guideline value of Muthumariyamman Nagar is Rs 3,800 per sq.ft, effective from 1 July 2024. This area is located in Villivakkam village, under the Villivakkam SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Muthumariyamman Nagar has changed

Over the years, the guideline value of Muthumariyamman Nagar has seen several revisions. The earliest recorded figure is from 2003, which was Rs 705 per sq.ft. This value increased significantly to Rs 1,750 per sq.ft in 2007, marking a change of +148%. The value then rose to Rs 3,500 per sq.ft in 2012, reflecting a +100% increase. However, it dropped to Rs 2,345 per sq.ft in 2017, a decrease of -33%. The most recent revisions show an increase to Rs 3,500 per sq.ft in 2023, followed by a further increase to Rs 3,800 per sq.ft in 2024, which is a +9% change.

In summary, the guideline value has increased from Rs 705 per sq.ft in 2003 to Rs 3,800 per sq.ft in 2024, amounting to an overall increase of +439%. The register has no figure for the year 2002 for this street.

Guideline values in Villivakkam

In Villivakkam, there are 372 streets under the Villivakkam SRO with a 2024 guideline value ranging from Rs 1,600 to Rs 13,200 per sq.ft. The median guideline value for the village is Rs 4,900 per sq.ft, placing Muthumariyamman Nagar's 2024 figure below this median.

• Muthumariamman Koil Street (Navalar Nagar): Rs 3,800 per sq.ft (2024)
• MULLAI NAGAR 9th STREET: Rs 8,200 per sq.ft (2024)
• MULLAI NAGAR 8th STREET: Rs 8,200 per sq.ft (2024)
• MULLAI NAGAR 7th STREET: Rs 8,200 per sq.ft (2024)
• MULLAI NAGAR 6th STREET: Rs 8,200 per sq.ft (2024)
• MULLAI NAGAR 5th STREET: Rs 8,200 per sq.ft (2024)

Stamp duty and registration fee for property in Muthumariyamman Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,800 per sq.ft, the total guideline value would be Rs 38,00,000. The stamp duty at 7% would amount to Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, bringing the total to Rs 3,42,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Muthumariyamman Nagar?

The Sub Registrar Office that covers Muthumariyamman Nagar is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in property transactions in Villivakkam. It is the value set by the government for the purpose of calculating stamp duty and registration fees during property registration. Buyers and sellers must consider this value to ensure compliance with legal requirements when executing property transactions.

When a property is sold, the guideline value is used to determine the applicable stamp duty and registration fees. This ensures that the transaction is recorded accurately and fairly, reflecting the official value of the property as determined by the local authorities.

Frequently asked questions

What is the current guideline value of Muthumariyamman Nagar?

The current guideline value of Muthumariyamman Nagar 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 from Rs 705 per sq.ft in 2003 to Rs 3,800 per sq.ft in 2024, reflecting an overall increase of +439% over the years.

What is the land classification of Muthumariyamman Nagar?

Muthumariyamman Nagar is classified as Residential Class IV Type - I.

Where can I find the Sub Registrar Office for Muthumariyamman Nagar?

The Sub Registrar Office for Muthumariyamman Nagar is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What factors determine the stamp duty and registration fees?

The stamp duty and registration fees are determined based on the guideline value or the sale price of the property, whichever is higher. This ensures that the fees reflect the true value of the property being registered.