Guideline Value for Muthamizh Veedhi

Muthamizh Veedhi guideline value

The current guideline value of Muthamizh Veedhi is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Thalakanancherry village, under the Alandur SRO, classified as Residential Class II Type - II.

How the guideline value of Muthamizh Veedhi has changed

The guideline value of Muthamizh Veedhi has seen several revisions over the years. In 2007, the value was Rs 700 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012. However, this was followed by a decrease to Rs 1,675 per sq.ft in 2017. The 2023 revision saw a rise to Rs 2,500 per sq.ft, and the most recent revision in 2024 has set the value at Rs 2,800 per sq.ft. The register has no figures for the years 2002 and 2003.

From 2007 to 2012, there was an increase of 257%, followed by a decrease of 33% from 2012 to 2017. The value then rose by 49% from 2017 to 2023, and finally increased by 12% from 2023 to 2024. Overall, the guideline value has increased by 300% from 2007 to 2024.

Guideline values in Thalakanancherry

In Thalakanancherry, there are 318 streets under the Alandur SRO that have a 2024 guideline value ranging from Rs 2,200 to Rs 5,500 per sq.ft, with a median value of Rs 3,900 per sq.ft. Muthamizh Veedhi's 2024 guideline value is below this median.

• Muvarasampattu Main Road: Rs 4,400 per sq.ft (2024)
• Nanganallur Co-operative Housing Society Colony 46th Street: Rs 3,900 per sq.ft (2024)
• Nanganallur Co-operative Housing Society Colony 46th Street Extension: Rs 3,900 per sq.ft (2024)
• Nanganallur Co-operative Housing Society Colony 5th Main Road: Rs 5,000 per sq.ft (2024)
• Nanganallur Co-operative Housing Society Colony 6th Main Road: Rs 5,000 per sq.ft (2024)
• M.M.T.C. Venkatachalam Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Muthamizh Veedhi

For a 1,000 sq.ft plot at the current rate of Rs 2,800 per sq.ft, the guideline value amounts to Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, totaling Rs 2,52,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Muthamizh Veedhi?

The Sub Registrar Office that covers Muthamizh Veedhi is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. To find your SRO, visit find your SRO.

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

The guideline value is a crucial factor in property transactions in Thalakanancherry, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as it affects the stamp duty and registration fees payable at the time of transaction.

When a property is sold, the guideline value serves as a benchmark for calculating the applicable taxes. It is essential for buyers to be aware of the current guideline value to ensure compliance with registration requirements and to avoid any potential legal issues in the future.

Frequently asked questions

What is the current guideline value of Muthamizh Veedhi?

The current guideline value of Muthamizh Veedhi is Rs 2,800 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 700 per sq.ft in 2007 to Rs 2,800 per sq.ft in 2024, marking an overall increase of 300% over this period.

What is the land classification for Muthamizh Veedhi?

Muthamizh Veedhi is classified as Residential Class II Type - II, indicating its suitability for residential purposes.

Where can I find the Alandur Sub Registrar Office?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is the stamp duty calculated for properties in Muthamizh Veedhi?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate would incur a stamp duty of Rs 1,96,000.