Guideline Value for Muthamizh Nagar

Muthamizh Nagar guideline value

The current guideline value for Muthamizh Nagar is Rs 1,000 per sq.ft, effective from 1 July 2024. This area is located in Vallam village and falls under the Chengleput Joint I SRO. The land classification for this street is Residential Special Type - I.

How the guideline value of Muthamizh Nagar has changed

Over the years, the guideline value of Muthamizh Nagar has seen several revisions. The earliest recorded figure is from 2007, which was Rs 180 per sq.ft. This increased significantly to Rs 1,000 per sq.ft in 2012, marking a substantial rise of 456%. However, between 2012 and 2017, the value decreased to Rs 670 per sq.ft, a drop of 33%. From 2017 to 2023, the value increased again to Rs 1,000 per sq.ft, reflecting a 49% increase. The 2023 to 2024 revision saw no change, maintaining the value at Rs 1,000 per sq.ft.

The guideline value register does not have figures for the years 2002 and 2003 for Muthamizh Nagar. Overall, from 2007 to 2024, the guideline value has increased by 456%.

Guideline values in Vallam

In Vallam, there are 30 streets under the Chengleput Joint I SRO with a 2024 guideline value ranging from Rs 750 to Rs 1,000 per sq.ft. The median value for these streets is Rs 1,000 per sq.ft, which is equal to the 2024 figure for Muthamizh Nagar. Below are the guideline values for other streets in Vallam:

• Narayana Avenue: Rs 1,000 per sq.ft (2024)
• Nehru Nagar: Rs 1,000 per sq.ft (2024)
• Mariamman Koil Street: Rs 750 per sq.ft (2024)
• Pandian Nagar: Rs 1,000 per sq.ft (2024)
• Madha Koil Street: Rs 750 per sq.ft (2024)
• Preethi Nagar: Rs 850 per sq.ft (2024)

Stamp duty and registration fee for property in Muthamizh Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value would be Rs 10,00,000. The stamp duty at 7% would amount to Rs 70,000, and the registration fee at 2% would be Rs 20,000, bringing the total fees to Rs 90,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Muthamizh Nagar?

The Sub Registrar Office that covers Muthamizh Nagar is the Chengleput Joint I Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the 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 plays a crucial role during the registration process when buying or selling property in Vallam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction reflects the prevailing market conditions.

When a property is registered, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the appropriate taxes are collected by the government, contributing to local infrastructure and services.

Frequently asked questions

What is the current guideline value for Muthamizh Nagar?

The current guideline value for Muthamizh Nagar is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, starting from Rs 180 per sq.ft in 2007 and reaching Rs 1,000 per sq.ft in 2024, with fluctuations in between.

What is the land classification for Muthamizh Nagar?

The land classification for Muthamizh Nagar is Residential Special Type - I, indicating its designated use for residential purposes.

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

The Chengleput Joint I Sub Registrar Office covers Muthamizh Nagar and is located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How are stamp duty and registration fees calculated in Vallam?

Stamp duty and registration fees in Vallam are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the appropriate fees are paid during the registration process.