Guideline Value for Muthamizhil Nagar

Muthamizhil Nagar guideline value

The current guideline value of Muthamizhil Nagar is Rs 1,500 per sq.ft, as per the 2023 revision. This area falls under Vandalur village, governed by the Gooduvancheri SRO, and is classified as Residential Special Type - I.

How the guideline value of Muthamizhil Nagar has changed

Over the years, the guideline value of Muthamizhil Nagar has seen several revisions. The 2007 revision set the value at Rs 550 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in the 2012 revision. However, the 2017 revision saw a decrease to Rs 1,005 per sq.ft. The most recent 2023 revision brought the value back up to Rs 1,500 per sq.ft, marking a 49% increase from the 2017 figure.

From the 2007 revision to the 2023 revision, the overall change is an increase of 173%. It is important to note that the register has no figures for the years 2002, 2003, and 2024 for this street.

Guideline values in Vandalur

Muthamizhil Nagar is part of Vandalur, which is under the Gooduvancheri SRO. Unfortunately, there are no specific guideline values provided for other streets in Vandalur.

Stamp duty and registration fee for property in Muthamizhil Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,500 per sq.ft, the total guideline value would be Rs 15,00,000. The stamp duty at 7% would amount to Rs 1,05,000, and the registration fee at 2% would be Rs 30,000, bringing the total to Rs 1,35,000. It is essential to 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 Muthamizhil Nagar?

The Sub Registrar Office that covers Muthamizhil Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone.

You can find your SRO for more details.

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

When buying or selling property in Vandalur, the guideline value plays a crucial role during the registration process. It is used to determine the stamp duty and registration fees applicable to the transaction.

Both the buyer and seller must be aware that the stamp duty is charged based on the higher amount between the guideline value and the sale price, ensuring that the correct fees are paid during registration.

Frequently asked questions

What is the current guideline value of Muthamizhil Nagar?

The current guideline value of Muthamizhil Nagar is Rs 1,500 per sq.ft, as per the 2023 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 550 per sq.ft in 2007 to Rs 1,500 per sq.ft in 2012, decreased to Rs 1,005 per sq.ft in 2017, and returned to Rs 1,500 per sq.ft in 2023.

What is the land classification for Muthamizhil Nagar?

Muthamizhil Nagar is classified as Residential Special Type - I, indicating its intended use for residential purposes.

Where is the Gooduvancheri Sub Registrar Office located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone.

How is stamp duty calculated for properties in Muthamizhil Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, on a property valued at Rs 15,00,000, the stamp duty would be Rs 1,05,000 at 7%.