Guideline Value for Muthamman Nagar

Muthamman Nagar guideline value

The current guideline value of Muthamman Nagar is Rs 4,400 per sq.ft, effective from 1 July 2024. This area is located in Ayanavaram village under the AnnaNagar SRO and is classified as Residential Class II Type - I.

How the guideline value of Muthamman Nagar has changed

The guideline value for Muthamman Nagar has seen significant changes over the years. The earliest recorded figure is from 2002, which was Rs 534 per sq.ft. This increased to Rs 599 per sq.ft in 2003, marking a 12% rise. The value then saw a substantial increase to Rs 1,200 per sq.ft in 2007, reflecting a 100% change. Following this, the value surged to Rs 4,000 per sq.ft in 2012, a remarkable increase of 233%. However, from 2012 to 2017, the value decreased to Rs 2,680 per sq.ft, indicating a drop of 33%. The guideline value then rose again to Rs 4,000 per sq.ft in 2023, and most recently to Rs 4,400 per sq.ft in 2024, which is a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 724%. There are no figures available for the revisions in the years not mentioned in the register for this street.

Guideline values in Ayanavaram

Ayanavaram has a total of 369 streets under the AnnaNagar SRO, with 2024 guideline values ranging from Rs 2,700 to Rs 20,000 per sq.ft. The median guideline value in this area is Rs 4,900 per sq.ft, making the current value of Muthamman Nagar below this median.

• Muthamman koil street: Rs 4,900 per sq.ft (2024)
• Muthamman koil lane: Rs 4,900 per sq.ft (2024)
• Muthamman koil Ist lane: Rs 4,900 per sq.ft (2024)
• Muthamman koil 2nd lane: Rs 4,900 per sq.ft (2024)
• Muthukumarappa Nagar: Rs 4,400 per sq.ft (2024)
• Nagammal Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Muthamman Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total fees together to Rs 3,96,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Muthamman Nagar?

The Sub Registrar Office that covers Muthamman Nagar is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Ayanavaram. It serves as a benchmark for determining the minimum value of a property, ensuring that the transaction is recorded at a fair price. Buyers and sellers must be aware of the guideline value to avoid discrepancies during the registration process.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that all transactions are transparent and comply with the regulations set forth by the Registration Department.

Frequently asked questions

What is the current guideline value of Muthamman Nagar?

The current guideline value of Muthamman Nagar is Rs 4,400 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 534 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 724%.

What is the land classification of Muthamman Nagar?

Muthamman Nagar is classified as Residential Class II Type - I under the land classification system.

What are the stamp duty and registration fees for a property in Muthamman Nagar?

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Where is the Sub Registrar Office for Muthamman Nagar located?

The Sub Registrar Office for Muthamman Nagar is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.