Guideline Value for Muthamil Nagar

Muthamil Nagar guideline value

The current guideline value of Muthamil Nagar, located in Salamangalam village, is Rs 600 per sq.ft, effective from 1 July 2024. This area falls under the Sriperumpudur Sub Registrar Office (SRO) and is classified as Mixed Type - I land.

How the guideline value of Muthamil Nagar has changed

Over the years, the guideline value of Muthamil Nagar has seen several revisions. In 2007, the guideline value was Rs 60 per sq.ft, which increased significantly to Rs 600 per sq.ft in 2012, marking a 900% increase. However, it then decreased to Rs 402 per sq.ft in 2017, reflecting a decline of 33%. The value remained at Rs 600 per sq.ft in both 2023 and the latest 2024 revision, indicating no change from the previous year.

The overall change from the 2007 revision to the 2024 revision shows an increase of 900%. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Salamangalam

In Salamangalam village, there are 59 streets under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 200 to Rs 3,100 per sq.ft. The median guideline value for the area is Rs 500 per sq.ft, making Muthamil Nagar's 2024 figure of Rs 600 per sq.ft above this median.

• Mettu street: Rs 400 per sq.ft (2024)
• Meenakshi Nagar: Rs 400 per sq.ft (2024)
• Om Sakthi Nagar: Rs 550 per sq.ft (2024)
• Padmavathy Nagar (Padmavathy Avenue): Rs 400 per sq.ft (2024)
• Mahalakshmi Nagar: Rs 400 per sq.ft (2024)
• Pranav Orchid: Rs 600 per sq.ft (2024)

Stamp duty and registration fee for property in Muthamil Nagar

For a 1,000 sq.ft plot at the current rate of Rs 600 per sq.ft, the guideline value amounts to Rs 6,00,000. The stamp duty at 7% would be Rs 42,000, and the registration fee at 2% would be Rs 12,000, totaling Rs 54,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Muthamil Nagar?

Muthamil Nagar is covered by the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration of property transactions in Salamangalam. When a property is bought or sold, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that the transaction is legally compliant.

Frequently asked questions

What is the current guideline value of Muthamil Nagar?

The current guideline value of Muthamil Nagar is Rs 600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, with a notable increase from Rs 60 per sq.ft in 2007 to Rs 600 per sq.ft in 2012. It remained at Rs 600 per sq.ft in both 2023 and 2024.

What is the land classification of Muthamil Nagar?

Muthamil Nagar is classified as Mixed Type - I land, which indicates a combination of residential and commercial uses.

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

The Sub Registrar Office covering Muthamil Nagar is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

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

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, a property valued at Rs 6,00,000 would incur a stamp duty of Rs 42,000 at the rate of 7%.