Guideline Value for Muthamizh Nagar

Muthamizh Nagar guideline value

The current guideline value of Muthamizh Nagar, located in Hastinapuram village under the Pallavaram SRO, is Rs 2,970 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - I land classification.

How the guideline value of Muthamizh Nagar has changed

Over the years, the guideline value of Muthamizh Nagar has seen several revisions. The 2007 revision set the value at Rs 840 per sq.ft, which increased significantly to Rs 2,700 per sq.ft in 2012, marking a remarkable increase of 221%. However, the value decreased to Rs 1,809 per sq.ft in 2017, reflecting a decline of 33%. The next revision in 2023 raised the value to Rs 2,700 per sq.ft, and the current 2024 revision has further increased it to Rs 2,970 per sq.ft, showing a rise of 10% from the previous year.

In summary, the guideline value has increased from Rs 840 per sq.ft in 2007 to Rs 2,970 per sq.ft in 2024, which is an overall increase of 254%. The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Hastinapuram

Hastinapuram has a total of 277 streets under the Pallavaram SRO, with guideline values ranging from Rs 1,650 to Rs 4,400 per sq.ft. The median guideline value for these streets is Rs 2,970 per sq.ft, which is equal to the current guideline value of Muthamizh Nagar.

• Muthumariyamman Koil Street: Rs 1,650 per sq.ft (2024)
• Muthuswamy Nagar 1st Layout: Rs 3,300 per sq.ft (2024)
• Muthuswamy Nagar 2nd Layout: Rs 3,300 per sq.ft (2024)
• Muthuswamy Nagar 3rd Layout: Rs 3,300 per sq.ft (2024)
• Muvendar Street: Rs 1,650 per sq.ft (2024)
• M.T.L.P. Colony: Rs 2,970 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 2,970 per sq.ft, the total guideline value amounts to Rs 29,70,000. The stamp duty at 7% would be Rs 2,07,900, and the registration fee at 2% would be Rs 59,400, bringing the total to Rs 2,67,300. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Muthamizh Nagar?

The Sub Registrar Office that covers Muthamizh Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, 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 Hastinapuram

The guideline value is a critical factor during property transactions in Hastinapuram, as it determines the minimum value at which a property can be registered. Buyers and sellers must be aware that the guideline value influences the stamp duty and registration fees applicable to the property.

When registering a property, the guideline value serves as a benchmark, ensuring that the transaction reflects a fair value for taxation purposes. It is essential for both buyers and sellers to understand this value to avoid discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Muthamizh Nagar?

The current guideline value of Muthamizh Nagar is Rs 2,970 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 840 per sq.ft in 2007 to Rs 2,970 per sq.ft in 2024, marking an overall increase of 254% over the years.

What is the median guideline value in Hastinapuram?

The median guideline value for the 277 streets in Hastinapuram is Rs 2,970 per sq.ft, which is also the current value for Muthamizh Nagar.

What are the stamp duty and registration fees for Muthamizh Nagar?

The stamp duty for a property valued at Rs 29,70,000 would be Rs 2,07,900, and the registration fee would be Rs 59,400, totaling Rs 2,67,300.

Where is the Sub Registrar Office for Muthamizh Nagar located?

The Pallavaram Sub Registrar Office is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone.