Guideline Value for Muthamil Nagar

Muthamil Nagar guideline value

The current guideline value of Muthamil Nagar, located in Valarpuram village, is Rs 300 per sq.ft as per the 2024 revision effective from 1 July 2024. This area falls under the Sriperumpudur Sub Registrar Office (SRO) and is classified as Residential Class II Type - I.

How the guideline value of Muthamil Nagar has changed

The guideline value for Muthamil Nagar has seen several revisions over the years. In 2007, the value was Rs 130 per sq.ft, which increased significantly to Rs 300 per sq.ft in 2012. However, this value dropped to Rs 201 per sq.ft in 2017, marking a decrease of 33%. The value then rose again to Rs 300 per sq.ft in both the 2023 and 2024 revisions, showing no change between these two years.

From 2017 to 2023, there was a notable increase of 49%. Overall, from the 2007 revision to the current 2024 revision, the guideline value has increased by 131%. The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Valarpuram

In Valarpuram, there are 91 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 2,025 per sq.ft. The median value for these streets is Rs 300 per sq.ft, which is equal to the current guideline value of Muthamil Nagar.

• Nehru Nagar: Rs 300 per sq.ft (2024)
• NRI Centre City: Rs 700 per sq.ft (2024)
• Main Road: Rs 700 per sq.ft (2024)
• Mahalakshmi Nagar: Rs 300 per sq.ft (2024)
• Lakshmi Nagar: Rs 200 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Muthamil Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 300 per sq.ft, the total guideline value amounts to Rs 3,00,000. The stamp duty at 7% would be Rs 21,000, and the registration fee at 2% would be Rs 6,000, making the total cost for these fees Rs 27,000. 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 further assistance.

Which Sub Registrar Office covers Muthamil Nagar?

The Muthamil Nagar area 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 information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Valarpuram. It serves as a basis for calculating the stamp duty and registration fees, which are mandatory during property transactions.

When a property is sold, the guideline value ensures that the transaction is recorded at a price that reflects the official valuation of the area. This helps maintain transparency and accountability in property dealings.

Frequently asked questions

What is the current guideline value of Muthamil Nagar?

The current guideline value of Muthamil Nagar is Rs 300 per sq.ft as per the 2024 revision effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 130 per sq.ft in 2007 to Rs 300 per sq.ft in 2012, then decreased to Rs 201 per sq.ft in 2017, and has remained at Rs 300 per sq.ft since 2023.

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.

What are the stamp duty and registration fees for property in Muthamil Nagar?

For a property valued at Rs 3,00,000, the stamp duty would be Rs 21,000 and the registration fee would be Rs 6,000, totaling Rs 27,000.

How is the guideline value determined for properties in Valarpuram?

The guideline value is determined by the Registration Department and reflects the official valuation of properties in the area, which is used for calculating stamp duty and registration fees during property transactions.