Guideline Value for MUTHURANGAN SALAI

Muthurangan Salai guideline value

The current guideline value of Muthurangan Salai is Rs 13,200 per sq.ft, effective from 1 July 2024. This street is located in Tnagar village under the Thiyagaraya nagar SRO, classified as Mixed Special Type - II.

How the guideline value of Muthurangan Salai has changed

The guideline value for Muthurangan Salai has seen significant changes over the years. In 2003, the value was Rs 1,149 per sq.ft, which increased to Rs 3,000 per sq.ft in 2007, marking a 161% increase. The value then surged to Rs 12,000 per sq.ft in 2012, reflecting a remarkable 300% rise. However, it faced a decline to Rs 8,040 per sq.ft in 2017, a decrease of 33%. The value rebounded to Rs 12,000 per sq.ft in 2023, before reaching the current figure of Rs 13,200 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 1049%. The register has no figure for the year 2002 for this street.

Guideline values in Tnagar

In Tnagar, there are 262 streets under the Thiyagaraya nagar SRO with a 2024 guideline value ranging from Rs 4,400 to Rs 27,500 per sq.ft, with a median value of Rs 11,000 per sq.ft. Muthurangan Salai's 2024 figure of Rs 13,200 per sq.ft is above the median.

• Muthukrishnan Street: Rs 11,000 per sq.ft (2024)
• Nageswara Rao Road: Rs 17,600 per sq.ft (2024)
• Nana Street: Rs 13,200 per sq.ft (2024)
• Nandhi Loop Street: Rs 5,500 per sq.ft (2024)
• Murugesan Street: Rs 11,000 per sq.ft (2024)
• Murugan Street: Rs 13,200 per sq.ft (2024)

Stamp duty and registration fee for property in Muthurangan Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 13,200 per sq.ft, the total guideline value would be Rs 1,32,00,000. The stamp duty at 7% would amount to Rs 9,24,000, and the registration fee at 2% would be Rs 2,64,000, bringing the total fees together to Rs 11,88,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator to estimate costs for your property transactions.

Which Sub Registrar Office covers Muthurangan Salai?

The Sub Registrar Office covering Muthurangan Salai is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Tnagar. It is used to determine the stamp duty and registration fees payable when a property is bought or sold. Buyers and sellers must consider the guideline value to ensure compliance with local regulations and to accurately calculate the associated costs.

When a property is sold, the guideline value serves as a reference point for the transaction. If the sale price is higher than the guideline value, the stamp duty will be calculated based on the sale price instead. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Muthurangan Salai?

The current guideline value of Muthurangan Salai is Rs 13,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 1,149 per sq.ft in 2003 to Rs 13,200 per sq.ft in 2024, marking an overall increase of 1049% over this period.

What are the stamp duty rates applicable for Muthurangan Salai?

The stamp duty rate for properties in Muthurangan Salai is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Which office handles registrations for Muthurangan Salai?

The Thiyagaraya nagar Sub Registrar Office handles registrations for Muthurangan Salai, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35.

What other streets have guideline values in Tnagar?

Other streets in Tnagar include Muthukrishnan Street at Rs 11,000 per sq.ft, Nageswara Rao Road at Rs 17,600 per sq.ft, and Nana Street at Rs 13,200 per sq.ft, among others.