Guideline Value for Muga Nagar

Muga Nagar guideline value

The current guideline value of Muga Nagar is Rs 100 per sq.ft, effective from 1 July 2024. This area is located in Kozhiyalam village under the Madurandakam Sub Registrar Office (SRO) and is classified as Residential Class I Type - I.

How the guideline value of Muga Nagar has changed

The guideline value of Muga Nagar has seen several revisions over the years. In the 2007 revision, the value was set at Rs 20 per sq.ft. This increased significantly in the 2012 revision to Rs 70 per sq.ft, marking a rise of 250%. However, the 2017 revision saw a decrease to Rs 47 per sq.ft, which was a drop of 33%. The value then increased to Rs 100 per sq.ft in both the 2023 and 2024 revisions, resulting in a 113% increase from the 2017 revision.

It is important to note that there are no figures available for the years 2002 and 2003 for this street. Overall, from the 2007 revision to the current 2024 revision, the guideline value has increased by 400%.

Guideline values in Kozhiyalam

Currently, there are no specific guideline values provided for other streets in Kozhiyalam under the Madurandakam SRO. Muga Nagar is the only street mentioned in the available data.

Stamp duty and registration fee for property in Muga Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 100 per sq.ft, the total guideline value would be Rs 1,00,000. The stamp duty at 7% would amount to Rs 7,000, and the registration fee at 2% would be Rs 2,000, bringing the total cost for these fees to Rs 9,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Muga Nagar?

The Madurandakam Sub Registrar Office covers Muga Nagar, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO using this link.

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

The guideline value is an important factor during the registration of property transactions in Kozhiyalam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on the official valuation of the property.

When buying or selling property, the guideline value helps in determining the official sale price for registration purposes. Buyers should be aware that the duty is charged on the higher of the guideline value or the actual sale price to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Muga Nagar?

The current guideline value of Muga Nagar is Rs 100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 20 per sq.ft in 2007 to Rs 100 per sq.ft in 2024, representing a total increase of 400% over this period.

What are the stamp duty and registration fees for property in Muga Nagar?

The stamp duty for property in Muga Nagar is 7%, and the registration fee is 2%. For a 1,000 sq.ft plot at the current guideline value, the total fees would amount to Rs 9,000.

Which office handles property registrations in Muga Nagar?

The Madurandakam Sub Registrar Office handles property registrations for Muga Nagar, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

How is the guideline value used in property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It acts as a benchmark for determining the official sale price for registration purposes.