Guideline Value for Muthiah Nagar

Muthiah Nagar guideline value

The current guideline value of Muthiah Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024. This area is located in Nanmangalam village under the Pallavaram SRO and is classified as Residential Class I Type - III.

How the guideline value of Muthiah Nagar has changed

The guideline value for Muthiah Nagar has seen several revisions over the years. The earliest recorded value in 2007 was Rs 300 per sq.ft, which increased significantly to Rs 1,800 per sq.ft in 2012. However, this value decreased to Rs 1,206 per sq.ft in 2017. The subsequent revisions saw an increase, with the value rising to Rs 1,800 per sq.ft in 2023 and finally reaching Rs 1,980 per sq.ft in 2024.

From 2017 to 2023, the guideline value increased by 49%. The jump from 2012 to 2017 saw a decrease of 33%. The most notable increase was from 2007 to 2012, which was a remarkable 500%. Overall, from 2007 to 2024, the guideline value has increased by 560%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Nanmangalam

Nanmangalam village has a total of 139 streets under the Pallavaram SRO that have a 2024 guideline value ranging from Rs 1,960 to Rs 3,850 per sq.ft. The median value for these streets is Rs 2,750 per sq.ft, placing Muthiah Nagar's value below this median.

• M.R.Nagar: Rs 2,750 per sq.ft (2024)
• Nandagopal Nagar: Rs 2,750 per sq.ft (2024)
• Naprat Nagar: Rs 1,960 per sq.ft (2024)
• M.G.R. Street: Rs 3,300 per sq.ft (2024)
• Nehru Nagar: Rs 1,960 per sq.ft (2024)
• Nehru Nagar Loganathan Street: Rs 1,960 per sq.ft (2024)

Stamp duty and registration fee for property in Muthiah Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total cost for these fees to Rs 1,78,200. Please note that 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 more details.

Which Sub Registrar Office covers Muthiah Nagar?

The Sub Registrar Office that covers Muthiah Nagar is the Pallavaram Sub Registrar Office located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering a property in Nanmangalam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during property transactions.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions, based on the established guideline values in the area.

Frequently asked questions

What is the current guideline value of Muthiah Nagar?

The current guideline value of Muthiah Nagar is Rs 1,980 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 1,980 per sq.ft in 2024, reflecting an overall increase of 560% over the years.

What is the median guideline value in Nanmangalam?

The median guideline value for streets in Nanmangalam is Rs 2,750 per sq.ft, with Muthiah Nagar's current value being below this median.

What fees are associated with buying property in Muthiah Nagar?

When buying property in Muthiah Nagar, buyers should expect to pay stamp duty at 7% and a registration fee at 2% of the guideline value or sale price, whichever is higher.

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

The Sub Registrar Office for Muthiah Nagar is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.