Guideline Value for Muthamiz Nagar Layout

Muthamiz Nagar Layout guideline value

The current guideline value for Muthamiz Nagar Layout is Rs 2,200 per sq.ft, effective from 1 July 2024. This layout is located in Madipakkam-1 village under the Velacheri SRO, classified as Residential Class II Type - I.

How the guideline value of Muthamiz Nagar Layout has changed

The guideline value register for Muthamiz Nagar Layout shows no figures for the years 2002, 2003, 2007, 2012, 2017, and 2023. The only available figure is from the 2024 revision, which is Rs 2,200 per sq.ft.

Since there are no figures available for the previous revisions, it can be noted that there have been no changes in the guideline value for this street across the years listed.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1823 streets under the Velacheri SRO that carry a guideline value for 2024, ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,750 per sq.ft, placing Muthamiz Nagar Layout's 2024 figure below that median.

• Muthu Kumaran Road: Rs 1,650 per sq.ft (2024)
• Muthu Mohammed Street: Rs 1,650 per sq.ft (2024)
• Mylai Kabaleeswarar Colony layout: Rs 3,850 per sq.ft (2024)
• Mylai Kabaleeswarar Colony layout 1st Street: Rs 3,850 per sq.ft (2024)
• Mylai Kabaleeswarar Colony layout 2nd Street: Rs 3,850 per sq.ft (2024)
• Mylai Karpagambal Nagar 1st Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Muthamiz Nagar Layout

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. Duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Muthamiz Nagar Layout?

The Muthamiz Nagar Layout falls under the Velacheri Sub Registrar Office located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value plays a crucial role in the registration process of property transactions in Madipakkam-1. It is used to determine the stamp duty and registration fees applicable when buying or selling properties in the area.

When a property is registered, the guideline value is considered alongside the sale price. The higher of the two values is used to calculate the applicable duties and fees, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value for Muthamiz Nagar Layout?

The current guideline value for Muthamiz Nagar Layout is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

There are no figures available for Muthamiz Nagar Layout in the revisions from 2002, 2003, 2007, 2012, 2017, and 2023. The only figure available is from the 2024 revision.

What is the land classification for Muthamiz Nagar Layout?

Muthamiz Nagar Layout is classified as Residential Class II Type - I, indicating its designation for residential purposes within the area.

Where can I find the Velacheri Sub Registrar Office?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. This office handles registrations for properties in the area.

How do stamp duty and registration fees work in property transactions?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price of the property. This ensures that the correct amount is paid during the registration process, adhering to local regulations.