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_B 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 register has no figures for the years 2002, 2003, 2007, and 2012. In the 2017 revision, the guideline value was Rs 134 per sq.ft. This figure remained unchanged at Rs 200 per sq.ft in the 2023 revision, and it has been carried forward into the 2024 revision, reflecting a total increase of 49% from the 2017 figure.

From the 2023 to 2024 revision, there has been no change, maintaining the guideline value at Rs 200 per sq.ft. Overall, from 2017 to 2024, the guideline value has increased by 49%.

Guideline values in Vallam_B

In Vallam_B, there are 73 streets under the Sriperumpudur SRO with a 2024 guideline value ranging from Rs 150 to Rs 1,950 per sq.ft. The median guideline value for these streets is Rs 400 per sq.ft, placing Muthamil Nagar's 2024 figure below this median.

• Murugan Nagar: Rs 400 per sq.ft (2024)
• Nadu Street: Rs 200 per sq.ft (2024)
• Molakkalamman Koil Street: Rs 400 per sq.ft (2024)
• National Highway Road: Rs 600 per sq.ft (2024)
• Mettu Street: Rs 400 per sq.ft (2024)
• Mariyamman 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 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, bringing the total fees to Rs 18,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use our 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_B

The guideline value plays a crucial role during the registration of property transactions in Vallam_B. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being sold or purchased.

When a buyer decides to register a property, the guideline value is assessed to ensure that the appropriate fees are calculated based on either the guideline value or the sale price, whichever is higher. This ensures compliance with the regulations set forth by the Registration Department.

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 remained at Rs 200 per sq.ft from 2023 to 2024, while it increased from Rs 134 per sq.ft in 2017 to Rs 200 per sq.ft in 2023, marking a 49% increase overall from 2017 to 2024.

What is the land classification of Muthamil Nagar?

Muthamil Nagar is classified as Residential Class III Type - I, indicating its designation for residential use within the area.

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

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

How is 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 1,000 sq.ft plot at the guideline value of Rs 200 per sq.ft would incur a total fee of Rs 18,000, including stamp duty and registration fees.