Guideline Value for Muthtamil Nagar

Muthtamil Nagar guideline value

The current guideline value of Muthtamil Nagar is Rs 6,000 per sq.ft, effective from 1 July 2024. This area is located in Konnur village, under the Konnur SRO, and is classified as Residential Special Type - I.

How the guideline value of Muthtamil Nagar has changed

The guideline value for Muthtamil Nagar has undergone several revisions over the years. In 2002, the value was Rs 163 per sq.ft, which increased to Rs 177 per sq.ft in 2003. The value saw significant growth to Rs 700 per sq.ft in 2007, followed by a sharp rise to Rs 5,500 per sq.ft in 2012. However, it decreased to Rs 3,685 per sq.ft in 2017. The value then increased to Rs 5,500 per sq.ft in 2023 before reaching the current rate of Rs 6,000 per sq.ft in 2024.

Between the revisions, the changes were as follows: from 2002 to 2003, there was an increase of 9%. The value rose by 295% from 2003 to 2007. From 2007 to 2012, it increased by 686%, while there was a decrease of 33% from 2012 to 2017. The value then increased by 49% from 2017 to 2023, and finally, there was a 9% increase from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by 3581%.

Guideline values in Konnur

In Konnur, there are 249 streets under the Konnur SRO, with guideline values ranging from Rs 2,750 to Rs 7,100 per sq.ft. The median value in this area is Rs 3,800 per sq.ft, placing Muthtamil Nagar's 2024 figure above this median.

• Murugan Nagar 1 to 4th Street Extension: Rs 5,500 per sq.ft (2024)
• Murugan Nagar 1 to 4th Street: Rs 5,500 per sq.ft (2024)
• Murugan Nagar 1 to 4 Street: Rs 5,500 per sq.ft (2024)
• Murugan Nagar 1 to 4 Cross Street: Rs 5,500 per sq.ft (2024)
• Mounasami Madam Street: Rs 3,800 per sq.ft (2024)
• Nehru Nagar: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Muthtamil Nagar

For a 1,000 sq.ft plot at the current rate of Rs 6,000 per sq.ft, the guideline value amounts to Rs 60,00,000. The stamp duty at 7% would be Rs 4,20,000, and the registration fee at 2% would be Rs 1,20,000, bringing the total to Rs 5,40,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Muthtamil Nagar?

The Sub Registrar Office that covers Muthtamil Nagar is the Konnur Sub Registrar Office, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. To find your SRO, visit find your SRO.

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

The guideline value is an essential factor during the registration of property transactions in Konnur. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from the transaction.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. These costs are based on the higher of the guideline value or the sale price, ensuring that the transaction is recorded accurately in the public register.

Frequently asked questions

What is the current guideline value of Muthtamil Nagar?

The current guideline value of Muthtamil Nagar is Rs 6,000 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 163 in 2002 to Rs 6,000 in 2024, with various increases and decreases over the years.

What is the land classification for Muthtamil Nagar?

Muthtamil Nagar is classified as Residential Special Type - I, which indicates its zoning for residential purposes.

Where can I find the Konnur Sub Registrar Office?

The Konnur Sub Registrar Office is located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

How is stamp duty calculated in Muthtamil Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 60,00,000, the stamp duty would be Rs 4,20,000 at a rate of 7%.