Guideline Value for Muthamil Nagar

Muthamil Nagar guideline value

The current guideline value of Muthamil Nagar is Rs 200 per sq.ft, effective from 1 July 2024. This area is located in Vallam village under the Sriperumpudur SRO, classified as Residential Class III Type - I.

How the guideline value of Muthamil Nagar has changed

Over the years, the guideline value for Muthamil Nagar has seen several revisions. The earliest recorded figure is from 2007, where the value was Rs 60 per sq.ft. This increased significantly to Rs 200 per sq.ft in 2012, marking a rise of 233%. However, in 2017, the value decreased to Rs 134 per sq.ft, a drop of 33%. From 2017 to 2023, the value rose by 49%, stabilizing again at Rs 200 per sq.ft in 2023, which remained unchanged in the 2024 revision.

The 2024 revision reflects no change from the 2023 figure, maintaining the guideline value at Rs 200 per sq.ft. Notably, from the 2007 revision to the 2024 revision, the overall increase stands at 233%.

Guideline values in Vallam

In Vallam, there are 51 streets under the Sriperumpudur SRO, with the 2024 guideline values ranging from Rs 150 to Rs 1,950 per sq.ft. The median value is Rs 200 per sq.ft, which is the same as the guideline value for Muthamil Nagar.

• Nadu Street: Rs 200 per sq.ft (2024)
• Mettu Street: Rs 200 per sq.ft (2024)
• Mariyamman Koil Street: Rs 200 per sq.ft (2024)
• Madha Koil Street: Rs 200 per sq.ft (2024)
• Little Farms: Rs 200 per sq.ft (2024)
• Kumaran Nagar: 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 200 per sq.ft, the total guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, making the total fees together Rs 18,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Muthamil Nagar?

The Sub Registrar Office that covers Muthamil Nagar is 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 Vallam

The guideline value is a crucial factor in the registration process when buying or selling property in Vallam. It determines the minimum value at which property transactions must be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When you proceed with a property transaction, the guideline value serves as a benchmark for calculating the applicable fees. Buyers should be aware that the stamp duty is charged on the higher of the guideline value or the actual sale price, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Muthamil Nagar?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 60 per sq.ft in 2007 to Rs 200 per sq.ft in 2012, then decreased to Rs 134 per sq.ft in 2017, and has remained at Rs 200 per sq.ft since 2023.

What is the median guideline value in Vallam?

The median guideline value in Vallam is Rs 200 per sq.ft, which is the same as the guideline value for Muthamil Nagar.

What are the stamp duty rates applicable in Muthamil Nagar?

The stamp duty rate in Muthamil Nagar is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Muthamil Nagar located?

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