Guideline Value for Muthu Nagar

Muthu Nagar guideline value

The current guideline value of Muthu Nagar, located in Orathur village under the Gooduvancheri SRO, is Rs 400 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Muthu Nagar has changed

Over the years, the guideline value of Muthu Nagar has seen several revisions. The earliest recorded figure is from 2007, which was Rs 150 per sq.ft. This increased to Rs 400 per sq.ft in 2012, remaining stable through the 2023 revision. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value from Rs 268 per sq.ft to Rs 400 per sq.ft. The register has no figures for the years 2002 and 2003.

From 2012 to 2017, the value decreased by 33%, while from 2007 to 2012, it increased by 167%. Overall, from 2007 to 2024, the guideline value has increased by 167%, with the current rate being Rs 400 per sq.ft.

Guideline values in Orathur

In Orathur, there are 80 streets under the Gooduvancheri SRO, with guideline values ranging from Rs 335 to Rs 1,700 per sq.ft. The median guideline value in this area is Rs 500 per sq.ft, placing Muthu Nagar's 2024 value below that median.

• M.K.R. Nagar: Rs 500 per sq.ft (2024)
• Meenakshi Amman Nagar: Rs 500 per sq.ft (2024)
• Omsakthi Nagar: Rs 650 per sq.ft (2024)
• Omshakthy Elite: Rs 650 per sq.ft (2024)
• Maniyammai Nagar Phase-III: Rs 500 per sq.ft (2024)
• Maniyammai Nagar: Rs 505 per sq.ft (2024)

Stamp duty and registration fee for property in Muthu Nagar

For a 1,000 sq.ft plot at the current rate of Rs 400 per sq.ft, the guideline value amounts to Rs 4,00,000. The stamp duty at 7% would be Rs 28,000, and the registration fee at 2% would be Rs 8,000, totaling Rs 36,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Muthu Nagar?

The Sub Registrar Office that covers Muthu Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process for property transactions in Orathur. It serves as the basis for calculating the stamp duty and registration fees, ensuring that all transactions are conducted transparently and fairly.

When buying or selling property, the guideline value helps determine the official value of the property for registration purposes. It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the transaction.

Frequently asked questions

What is the current guideline value of Muthu Nagar?

The current guideline value of Muthu Nagar is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various revisions, with significant changes from Rs 150 per sq.ft in 2007 to Rs 400 per sq.ft in 2024, reflecting an overall increase of 167% over this period.

What are the guideline values of other streets in Orathur?

Other streets in Orathur have varying guideline values, ranging from Rs 335 to Rs 1,700 per sq.ft, with a median value of Rs 500 per sq.ft.

How is stamp duty calculated in Muthu Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 400 per sq.ft, the total stamp duty would be Rs 28,000.

Where is the Sub Registrar Office for Muthu Nagar located?

The Gooduvancheri Sub Registrar Office covers Muthu Nagar and is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.