Guideline Value for Muthamizhal Nagar

Muthamizhal Nagar guideline value

The current guideline value of Muthamizhal Nagar, located in Mudichur village under the Padappai SRO, is Rs 1,760 per sq.ft, effective from 1 July 2024. This area falls under Residential Class I Type - I land classification.

How the guideline value of Muthamizhal Nagar has changed

The guideline value for Muthamizhal Nagar has undergone several revisions over the years. Starting from Rs 250 per sq.ft in 2007, it saw a significant increase to Rs 1,600 per sq.ft in 2012, followed by a decrease to Rs 1,072 per sq.ft in 2017. The most recent revisions show an increase to Rs 1,600 per sq.ft in 2023, and then to the current value of Rs 1,760 per sq.ft in 2024, reflecting a 10% rise from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 604%. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Mudichur

Mudichur village has a wide range of guideline values across its 135 streets under the Padappai SRO, with values ranging from Rs 880 to Rs 4,000 per sq.ft. The median guideline value in this area is Rs 2,200 per sq.ft, placing Muthamizhal Nagar's 2024 figure below the median.

• Muthu Mariamman Koil Street: Rs 1,210 per sq.ft (2024)
• Nadarajan Street: Rs 1,210 per sq.ft (2024)
• Mudichur West: Rs 2,200 per sq.ft (2024)
• Mudichur Road: Rs 3,630 per sq.ft (2024)
• Navab Abibulla Nagar: Rs 3,630 per sq.ft (2024)
• Nehru Colony: Rs 1,210 per sq.ft (2024)

Stamp duty and registration fee for property in Muthamizhal Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,760 per sq.ft, the total guideline value amounts to Rs 17,60,000. The stamp duty at 7% would be Rs 1,23,200, and the registration fee at 2% would be Rs 35,200, bringing the total cost for these fees to Rs 1,58,400. 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 Muthamizhal Nagar?

The Sub Registrar Office that covers Muthamizhal Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Mudichur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property, which can influence negotiations and agreements. It is essential to be aware of the current guideline value to ensure compliance with registration requirements.

Frequently asked questions

What is the current guideline value of Muthamizhal Nagar?

The current guideline value of Muthamizhal Nagar is Rs 1,760 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2007 to Rs 1,760 per sq.ft in 2024, reflecting an overall increase of 604% over the years.

What is the land classification of Muthamizhal Nagar?

Muthamizhal Nagar is classified as Residential Class I Type - I land.

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

The Sub Registrar Office for Muthamizhal Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is stamp duty calculated for property in Muthamizhal Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 17,60,000, the stamp duty would be Rs 1,23,200.