Guideline Value for Muktha Garden

Muktha Garden guideline value

The current guideline value of Muktha Garden is Rs 13,400 per sq.ft. This area is located in Egmore village, under the Periamet Sub Registrar Office (SRO), and is classified as Mixed Type - I land.

How the guideline value of Muktha Garden has changed

Since 2002, the guideline value for Muktha Garden has seen significant changes. The value started at Rs 1,160 per sq.ft in 2002 and increased to Rs 1,279 per sq.ft in 2003, marking a 10% rise. The value then experienced a substantial increase to Rs 2,600 per sq.ft in 2007, which was a 103% jump. Following this, the value surged to Rs 12,300 per sq.ft in 2012, reflecting a remarkable 373% increase. However, it then decreased to Rs 8,241 per sq.ft in 2017, showing a decline of 33%. The value rose again to Rs 12,300 per sq.ft in 2023, and most recently, it reached Rs 13,400 per sq.ft in 2024, which is a 9% increase from the previous year.

Overall, the guideline value has increased by 1,055% from 2002 to 2024. Notably, there are no figures available for the revisions in years other than those specified.

Guideline values in Egmore

In Egmore, there are 465 streets under the Periamet SRO that carry a 2024 guideline value ranging from Rs 2,800 to Rs 22,000 per sq.ft, with a median value of Rs 7,100 per sq.ft. Muktha Garden's 2024 guideline value of Rs 13,400 per sq.ft is above this median.

• Muniya PillaiSTreet: Rs 7,100 per sq.ft (2024)
• Munusamy Lane: Rs 4,900 per sq.ft (2024)
• Murrari Avenue: Rs 13,400 per sq.ft (2024)
• Murthy Nagar: Rs 6,300 per sq.ft (2024)
• Mothibaba Lane: Rs 13,400 per sq.ft (2024)
• Motharappa Venkatasamy Street: Rs 7,100 per sq.ft (2024)

Stamp duty and registration fee for property in Muktha Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 13,400 per sq.ft, the total guideline value would be Rs 1,34,00,000. The stamp duty at 7% would amount to Rs 9,38,000, while the registration fee at 2% would be Rs 2,68,000, bringing the total to Rs 12,06,000. 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 for more details.

Which Sub Registrar Office covers Muktha Garden?

The Muktha Garden area falls under the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Egmore. It serves as a benchmark for determining the minimum price at which a property can be sold or registered. When a buyer and seller agree on a sale price, the higher of the sale price or the guideline value is used to calculate the applicable stamp duty and registration fees.

During the registration process, the guideline value ensures that the government receives the appropriate revenue from property transactions. It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Muktha Garden?

The current guideline value of Muktha Garden is Rs 13,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen significant changes, from Rs 1,160 per sq.ft in 2002 to Rs 13,400 per sq.ft in 2024, reflecting an overall increase of 1,055% over this period.

What is the land classification of Muktha Garden?

Muktha Garden is classified as Mixed Type - I land, which indicates its diverse usage potential.

Where can I find the registration office for Muktha Garden?

The registration office covering Muktha Garden is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.

How is stamp duty calculated for properties in Muktha Garden?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at the current guideline value would incur a total stamp duty and registration fee of Rs 12,06,000.