Guideline Value for Muthu Housing Colony

Muthu Housing Colony guideline value

The current guideline value of Muthu Housing Colony in Puthur village under the Tambaram Joint 1 SRO is Rs 1,100 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - V.

How the guideline value of Muthu Housing Colony has changed

The guideline value for Muthu Housing Colony has seen several revisions over the years. The earliest recorded revision in 2012 set the value at Rs 1,000 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 670 per sq.ft, marking a decrease of 33%. In 2023, the value increased to Rs 1,000 per sq.ft, and the most recent revision in 2024 raised it to Rs 1,100 per sq.ft, reflecting a 10% increase from the previous year.

From 2012 to 2023, the value increased by 49% from Rs 670 per sq.ft to Rs 1,000 per sq.ft. Overall, comparing the 2012 and 2024 revisions, the guideline value has increased by 10%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Puthur

In Puthur, there are 63 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 330 to Rs 4,600 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, which is equal to the current guideline value for Muthu Housing Colony.

• Murugan Nagar & J.P. Avenue: Rs 2,200 per sq.ft (2024)
• Murugan Enclave: Rs 1,650 per sq.ft (2024)
• Murugan Avenue Phase V: Rs 1,100 per sq.ft (2024)
• Murugan Avenue Phase IV: Rs 1,100 per sq.ft (2024)
• Murugan Avenue Phase III: Rs 1,100 per sq.ft (2024)
• Murugan Avenue Phase II: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Muthu Housing Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty is calculated at 7%, resulting in Rs 77,000, and the registration fee at 2% amounts to Rs 22,000. Therefore, the total cost for stamp duty and registration fee together is Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Muthu Housing Colony?

The Muthu Housing Colony is covered by the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Puthur. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that both parties are aware of the financial obligations involved in the transaction.

When registering a property, the guideline value helps to establish a fair assessment of the property's worth, which is essential for legal and taxation purposes. Buyers and sellers should be informed about the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Muthu Housing Colony?

The current guideline value of Muthu Housing Colony is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then back to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the land classification of Muthu Housing Colony?

Muthu Housing Colony is classified as Residential Special Type - V, which indicates its intended use for residential purposes.

What is the stamp duty rate for properties in Muthu Housing Colony?

The stamp duty rate for properties in Muthu Housing Colony is 7%, calculated on the higher of the guideline value or the sale price.

Where is the Tambaram Joint 1 Sub Registrar Office located?

The Tambaram Joint 1 Sub Registrar Office is located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone.