Guideline Value for Muthamizh Nagar

Muthamizh Nagar guideline value

The current guideline value of Muthamizh Nagar, located in Madambakkam village under the Selaiyur SRO, is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - II.

How the guideline value of Muthamizh Nagar has changed

In the 2012 revision, the guideline value was set at Rs 1,200 per sq.ft, which remained unchanged in the 2023 revision. However, in the 2024 revision, the guideline value increased to Rs 1,300 per sq.ft, marking an 8% rise from the previous year. The register has no figures for the years 2002, 2003, 2007, and 2017 for this street.

Overall, from the 2012 revision to the 2024 revision, there has been a total increase of 8%. This gradual increase reflects the changes in the guideline value over the years, with the most significant change occurring between 2023 and 2024.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value for these streets is Rs 2,400 per sq.ft, placing Muthamizh Nagar's 2024 figure below that median.

• Muthumari Amman Koil Street: Rs 1,100 per sq.ft (2024)
• Mullai Nagar Main Road: Rs 2,200 per sq.ft (2024)
• Mullai Nagar Extn II: Rs 2,200 per sq.ft (2024)
• Mullai Nagar Extn I: Rs 2,200 per sq.ft (2024)
• Mullai Nagar Extn Cross Street: Rs 2,200 per sq.ft (2024)
• Mullai Nagar Extn: Rs 2,200 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 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total to Rs 1,17,000. Please note that the duty is charged on the higher of the guideline value and the sale price.

For more detailed 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 Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, within the Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Madambakkam

The guideline value plays a crucial role in the registration process when buying or selling property in Madambakkam. It serves as a benchmark for assessing the value of the property, ensuring that the registration fees and stamp duties are calculated accurately based on the established rates.

When a property is sold, the guideline value is used to determine the applicable stamp duty and registration fees. Buyers and sellers must be aware of the current guideline values to ensure compliance with local regulations during the transaction process.

Frequently asked questions

What is the current guideline value of Muthamizh Nagar?

The current guideline value of Muthamizh Nagar is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen an increase from Rs 1,200 per sq.ft in 2012 to Rs 1,300 per sq.ft in 2024, marking an overall increase of 8% over this period.

What are the guideline values of other streets in Madambakkam?

Other streets in Madambakkam have varying guideline values, with rates ranging from Rs 1,100 to Rs 6,000 per sq.ft. Muthamizh Nagar's value is below the median of Rs 2,400 per sq.ft for the area.

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

The stamp duty is charged at 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher. For a plot valued at Rs 13,00,000, the total fees would amount to Rs 1,17,000.

Where is the Sub Registrar Office for Muthamizh Nagar located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.