Guideline Value for Muthalamman Nagar

Muthalamman Nagar guideline value

The current guideline value of Muthalamman Nagar, located in Venkatapuram village under the Kunrathur SRO, is Rs 1,200 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Muthalamman Nagar has changed

The guideline value for Muthalamman Nagar has seen several revisions over the years. The earliest recorded value was Rs 76 per sq.ft in 2002, which increased to Rs 84 per sq.ft in 2003. Following this, there was a significant rise to Rs 300 per sq.ft in 2007, and by 2012, it reached Rs 1,100 per sq.ft. However, this value dropped to Rs 737 per sq.ft in 2017 before climbing again to Rs 1,100 per sq.ft in 2023. The most recent revision in 2024 set the value at Rs 1,200 per sq.ft.

In terms of changes, from 2002 to 2024, the overall increase in guideline value is 1,479%. Notably, the value jumped by 267% from 2007 to 2012 and saw a 49% increase from 2017 to 2023. The transition from 2023 to 2024 reflects a 9% rise.

Guideline values in Venkatapuram

In Venkatapuram, there are 68 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 1,200 per sq.ft, with the median value being Rs 1,200 per sq.ft. Muthalamman Nagar's 2024 figure aligns with this median.

• Muthalamman koil Street: Rs 1,200 per sq.ft (2024)
• Muthuallamman Koil 1st Cross Street: Rs 1,200 per sq.ft (2024)
• Muthuallamman Koil 1st Street: Rs 1,200 per sq.ft (2024)
• Muthuallamman Koil 2nd Cross Street: Rs 1,200 per sq.ft (2024)
• Muthuallamman Koil 2nd Street: Rs 1,200 per sq.ft (2024)
• Nadaipathai Street: Rs 1,200 per sq.ft (2024)

Stamp duty and registration fee for property in Muthalamman Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,200 per sq.ft, the total guideline value amounts to Rs 12,00,000. The stamp duty at 7% would be Rs 84,000, and the registration fee at 2% would be Rs 24,000, resulting in a total of Rs 1,08,000. 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 detailed calculations.

Which Sub Registrar Office covers Muthalamman Nagar?

The Sub Registrar Office covering Muthalamman Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. For more information, you can find your SRO.

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

The guideline value is a crucial figure used during the registration of property transactions in Venkatapuram. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when a property is bought or sold.

When engaging in a property transaction, buyers and sellers must be aware that the guideline value will influence the overall costs involved. It is essential to consult the latest guideline values to ensure compliance with registration requirements.

Frequently asked questions

What is the current guideline value of Muthalamman Nagar?

The current guideline value of Muthalamman Nagar is Rs 1,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 76 per sq.ft in 2002 to Rs 1,200 per sq.ft in 2024, reflecting an overall increase of 1,479% over the years.

What is the land classification of Muthalamman Nagar?

Muthalamman Nagar is classified as Residential Special Type - I, which indicates its intended use for residential purposes.

Where is the Kunrathur Sub Registrar Office located?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is the stamp duty calculated for properties in Muthalamman Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 12,00,000 would incur a stamp duty of Rs 84,000 at 7%.