Guideline Value for Muthu Kumaran Nagar

Muthu Kumaran Nagar guideline value

The current guideline value of Muthu Kumaran Nagar is Rs 515 per sq.ft, effective from 1 July 2024. This area is located in Grandlyon village, under the jurisdiction of the Redhills SRO, and is classified as Residential Class V Type - I.

How the guideline value of Muthu Kumaran Nagar has changed

The guideline value for Muthu Kumaran Nagar has seen several revisions over the years. The 2017 revision recorded a guideline value of Rs 469 per sq.ft, which remained unchanged through the 2023 revision. However, in the 2024 revision, the value increased to Rs 515 per sq.ft, marking a 10% rise from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 10%. It is important to note that there are no figures available for the revisions in the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Grandlyon

In Grandlyon village, there are 82 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 1,500 per sq.ft, with a median value of Rs 660 per sq.ft. Muthu Kumaran Nagar's current guideline value is below this median.

• Muthu Kumaran Nagar Annex: Rs 820 per sq.ft (2024)
• Naalvar Nagar: Rs 660 per sq.ft (2024)
• Muruganandam Street: Rs 660 per sq.ft (2024)
• M.G.R. Street: Rs 660 per sq.ft (2024)
• New Star City: Rs 585 per sq.ft (2024)
• New Star City Diamond: Rs 515 per sq.ft (2024)

Stamp duty and registration fee for property in Muthu Kumaran Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 515 per sq.ft, the total guideline value would be Rs 5,15,000. The stamp duty at 7% would amount to Rs 36,050, and the registration fee at 2% would be Rs 10,300, bringing the total cost for these fees to Rs 46,350. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Muthu Kumaran Nagar?

The Sub Registrar Office that covers Muthu Kumaran Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more details.

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

The guideline value is a critical reference point when buying or selling property in Grandlyon. It determines the minimum value at which a property can be registered, ensuring that the transaction is documented accurately for taxation purposes.

When a buyer and seller agree on a sale price, the guideline value is used to calculate applicable fees such as stamp duty and registration fees. This ensures that the government receives the appropriate revenue based on the established guideline values.

Frequently asked questions

What is the current guideline value of Muthu Kumaran Nagar?

The current guideline value of Muthu Kumaran Nagar is Rs 515 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 469 per sq.ft in 2017 to Rs 515 per sq.ft in 2024, reflecting a 10% increase. There were no changes recorded for the years 2012, 2007, 2003, and 2002.

What is the median guideline value in Grandlyon?

The median guideline value in Grandlyon is Rs 660 per sq.ft for 2024. Muthu Kumaran Nagar's guideline value is below this median.

What are the stamp duty and registration fees for Muthu Kumaran Nagar?

For a plot of 1,000 sq.ft, the total guideline value is Rs 5,15,000. The stamp duty would be Rs 36,050, and the registration fee would be Rs 10,300, totaling Rs 46,350 for these fees.

Where can I find the Sub Registrar Office for Muthu Kumaran Nagar?

The Redhills Sub Registrar Office covers Muthu Kumaran Nagar, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.