Guideline Value for Muktha Meenakshi Sundaram Nagar

Muktha Meenakshi Sundaram Nagar guideline value

The current guideline value of Muktha Meenakshi Sundaram Nagar is Rs 750 per sq.ft, effective from 1 July 2024. This locality is situated in Vayallanallur_b village under the Poonamallee SRO, classified as Mixed Type - III.

How the guideline value of Muktha Meenakshi Sundaram Nagar has changed

According to the guideline value register, there are no figures for Muktha Meenakshi Sundaram Nagar for the years 2002, 2003, 2007, 2012, and 2017. The 2023 revision set the guideline value at Rs 700 per sq.ft, which was an increase from the previous revisions. The most recent revision in 2024 raised the guideline value to Rs 750 per sq.ft, reflecting a 7% increase from the 2023 figure.

With the 2024 revision, Muktha Meenakshi Sundaram Nagar's guideline value is now Rs 750 per sq.ft. This marks a notable change from the previous year, indicating a shift in the valuation of properties in this area.

Guideline values in Vayallanallur_b

In Vayallanallur_b, there are 27 streets under the Poonamallee SRO that carry a 2024 guideline value, ranging from Rs 220 to Rs 3,100 per sq.ft. The median guideline value for these streets is Rs 1,640 per sq.ft, placing Muktha Meenakshi Sundaram Nagar's 2024 figure below that median.

• Muktha Samruddhi Nagar: Rs 750 per sq.ft (2024)
• M.S.Garden Nalleeswarar Nagar Phase -II: Rs 660 per sq.ft (2024)
• Muthu Nagar: Rs 1,640 per sq.ft (2024)
• Orr: Rs 1,650 per sq.ft (2024)
• Padmavathi Nagar: Rs 1,925 per sq.ft (2024)
• Kaviya Garden: Rs 220 per sq.ft (2024)

Stamp duty and registration fee for property in Muktha Meenakshi Sundaram Nagar

For a 1,000 sq.ft plot at the current rate of Rs 750 per sq.ft, the guideline value amounts to Rs 7,50,000. The stamp duty at 7% would be Rs 52,500, and the registration fee at 2% would be Rs 15,000, totaling Rs 67,500. Please note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Muktha Meenakshi Sundaram Nagar?

The Muktha Meenakshi Sundaram Nagar area falls under the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Vayallanallur_b, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. It is essential for both parties to be aware of this value to avoid any discrepancies during the transaction process.

Frequently asked questions

What is the current guideline value of Muktha Meenakshi Sundaram Nagar?

The current guideline value of Muktha Meenakshi Sundaram Nagar is Rs 750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed recently?

The guideline value increased from Rs 700 per sq.ft in 2023 to Rs 750 per sq.ft in 2024, marking a 7% increase.

What is the land classification for Muktha Meenakshi Sundaram Nagar?

Muktha Meenakshi Sundaram Nagar is classified as Mixed Type - III according to the local land classification regulations.

Where can I find the Poonamallee Sub Registrar Office?

The Poonamallee Sub Registrar Office is located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 7,50,000, the stamp duty would be Rs 52,500 at a rate of 7%.