Guideline Value for Muthu Nagar

Muthu Nagar guideline value

The current guideline value of Muthu Nagar is Rs 700 per sq.ft. This area is part of Rathinamangalam village, under the Gooduvancheri SRO, and is classified as Residential Class II Type - I.

How the guideline value of Muthu Nagar has changed

The guideline value for Muthu Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 700 per sq.ft. However, in the 2017 revision, the value decreased to Rs 469 per sq.ft, marking a decline of 33%. The most recent revision in 2023 saw a significant increase to Rs 700 per sq.ft, reflecting a rise of 49% from the 2017 figure.

Overall, from the 2012 revision to the 2023 revision, there has been no change in the guideline value, maintaining at Rs 700 per sq.ft. It is important to note that the register does not provide figures for the revisions in 2002, 2003, 2007, and 2024 for this street.

Guideline values in Rathinamangalam

Currently, there are no specific village figures provided for Rathinamangalam. Muthu Nagar is the only street mentioned in the available data.

Stamp duty and registration fee for property in Muthu Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 700 per sq.ft, the total guideline value amounts to Rs 7,00,000. The stamp duty is charged at 7%, which totals Rs 49,000, and the registration fee is 2%, amounting to Rs 14,000. Therefore, the total fees together would be Rs 63,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more detailed calculations, 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.

To find your specific SRO, you can visit find your SRO.

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

When buying or selling property in Rathinamangalam, the guideline value is a crucial factor for registration purposes. It serves as a benchmark for calculating stamp duty and registration fees, which are mandatory during the transaction process.

The guideline value ensures that the property is registered at a fair price, which helps in maintaining transparency and accountability in real estate transactions. Buyers and sellers should always refer to the latest guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Muthu Nagar?

The current guideline value of Muthu Nagar is Rs 700 per sq.ft as per the 2023 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2012 to Rs 469 per sq.ft in 2017, and then back to Rs 700 per sq.ft in 2023. Overall, there has been no change from 2012 to 2023.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 7,00,000. The stamp duty at 7% is Rs 49,000, and the registration fee at 2% is Rs 14,000, totaling Rs 63,000 for the transaction.

Which office handles registrations for Muthu Nagar?

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

Are there other streets in Rathinamangalam with guideline values?

No other streets in Rathinamangalam are mentioned in the current data, making Muthu Nagar the only street with a specified guideline value.