Guideline Value for Muthall Nagar

Muthall Nagar guideline value

The current guideline value of Muthall Nagar, located in Oragadam village under the Ambattur SRO, is Rs 1,400 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class III Type - I land classification.

How the guideline value of Muthall Nagar has changed

The guideline value for Muthall Nagar has seen several revisions over the years. In the 2007 revision, the value was Rs 300 per sq.ft, which increased significantly to Rs 1,300 per sq.ft in the 2012 revision. However, it then decreased to Rs 871 per sq.ft in the 2017 revision. Following this, the value rose sharply to Rs 1,300 per sq.ft in the 2023 revision, and most recently, it has increased to Rs 1,400 per sq.ft as of the 2024 revision. The register has no figures for this street in 2002 and 2003.

From 2007 to 2024, the overall change in the guideline value is an increase of 367%. The most notable changes include a 333% increase from 2007 to 2012, followed by a decrease of 33% from 2012 to 2017, and a significant 49% increase from 2017 to 2023. The latest revision from 2023 to 2024 reflects an 8% increase.

Guideline values in Oragadam

In Oragadam, there are 596 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 3,500 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value of Muthall Nagar is below this median.

• Murugesan Street (V.L.Puram): Rs 2,400 per sq.ft (2024)
• Munusamy Pillai Street (Pudur): Rs 1,900 per sq.ft (2024)
• Munusamy Pillai Street (Gandhi Nagar): Rs 1,800 per sq.ft (2024)
• Munusamy Pillai Street (Banu Nagar West): Rs 2,200 per sq.ft (2024)
• Muthu Kumaran Street (Ram Nagar): Rs 2,400 per sq.ft (2024)
• Muthukumaran Street (Venkateswara Nagar): Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Muthall Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,400 per sq.ft, the total guideline value would be Rs 14,00,000. The stamp duty at 7% would amount to Rs 98,000, while the registration fee at 2% would be Rs 28,000. Together, the total cost for stamp duty and registration fee would be Rs 1,26,000. It's important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Muthall Nagar?

The Sub Registrar Office that covers Muthall Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for further assistance.

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

The guideline value is a critical reference point during the registration of property transactions in Oragadam. It helps determine the amount of stamp duty and registration fees that need to be paid, ensuring compliance with local regulations.

When buying or selling property, the guideline value is used to calculate the applicable charges, which can affect the overall cost of the transaction. It's essential for both buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Muthall Nagar?

The current guideline value of Muthall Nagar is Rs 1,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 300 per sq.ft in 2007 to Rs 1,400 per sq.ft in 2024, reflecting an overall increase of 367% over the years.

What is the land classification of Muthall Nagar?

Muthall Nagar falls under the Residential Class III Type - I land classification, indicating its designation for residential use.

Where can I find the Sub Registrar Office for Muthall Nagar?

The Sub Registrar Office for Muthall Nagar is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

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

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 14,00,000, the stamp duty would be Rs 98,000 at 7%.