Guideline Value for Muthamizh nagar

Muthamizh nagar guideline value

The current guideline value of Muthamizh nagar is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Poonthamallee village under the Poonamallee SRO, classified as Residential Class II Type - I.

How the guideline value of Muthamizh nagar has changed

The guideline value of Muthamizh nagar has seen several revisions over the years. In 2007, the guideline value was Rs 300 per sq.ft, which rose significantly to Rs 2,000 per sq.ft in 2012, marking an increase of 567%. However, it then decreased to Rs 1,340 per sq.ft in 2017, a drop of 33%. The value further increased to Rs 2,000 per sq.ft in 2023, and then to Rs 2,200 per sq.ft in 2024, reflecting a 10% increase.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2007 to 2024, the guideline value has increased by 633%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Poonthamallee

Poonthamallee village has a total of 257 streets under the Poonamallee SRO, with the 2024 guideline values ranging from Rs 1,980 to Rs 4,950 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, which is equal to the current guideline value of Muthamizh nagar.

• Muthukumaran nagar: Rs 3,250 per sq.ft (2024)
• Muthu nagar: Rs 2,740 per sq.ft (2024)
• Muthuswami nagar: Rs 1,980 per sq.ft (2024)
• Munikrishna nagar: Rs 2,200 per sq.ft (2024)
• Nambi Nagar 1st Cross Street: Rs 2,200 per sq.ft (2024)
• Nambi Nagar 2nd Cross Street: 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 2,200 per sq.ft, the total guideline value amounts to 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, totaling Rs 1,98,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Muthamizh nagar?

The Sub Registrar Office covering Muthamizh nagar is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonallee Chennai - 600056. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Poonthamallee. It serves as a benchmark for determining the minimum value on which stamp duty and registration fees are calculated.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the registration process reflects the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Muthamizh nagar?

The current guideline value of Muthamizh nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, showing an overall increase of 633% over the years.

What is the stamp duty rate for properties in Muthamizh nagar?

The stamp duty rate for properties in Muthamizh nagar is 7% of the guideline value or sale price, whichever is higher.

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

The Sub Registrar Office for Muthamizh nagar is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonallee Chennai - 600056.

What is the land classification for Muthamizh nagar?

Muthamizh nagar is classified as Residential Class II Type - I, indicating its zoning for residential purposes.