Guideline Value for Muthu Nagar

Muthu Nagar guideline value

The current guideline value of Muthu Nagar, located in Madanandapuram village under the Kunrathur SRO, is Rs 3,520 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - II.

How the guideline value of Muthu Nagar has changed

Over the years, the guideline value of Muthu Nagar has seen several revisions. The 2012 revision set the value at Rs 3,200 per sq.ft, which was then reduced to Rs 2,144 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 3,200 per sq.ft in 2023 and further rose to Rs 3,520 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%, while the overall change from 2012 to 2024 shows a 10% increase. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Madanandapuram

Madanandapuram village features a total of 94 streets under the Kunrathur SRO, with the 2024 guideline values ranging from Rs 2,530 to Rs 5,830 per sq.ft. The median guideline value for the village is Rs 3,520 per sq.ft, which is equal to the current value for Muthu Nagar.

• Muthu Mari Amman Annex: Rs 3,520 per sq.ft (2024)
• Mugalivakkam Road: Rs 5,830 per sq.ft (2024)
• M.S.Nagar Part IV: Rs 3,520 per sq.ft (2024)
• Othavadai Street, New Vgn Lakshmi Nagar: Rs 3,520 per sq.ft (2024)
• Maran Avenue: Rs 3,960 per sq.ft (2024)
• Mangala Lakshmi Nagar: Rs 3,520 per sq.ft (2024)

Stamp duty and registration fee for property in Muthu Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,520 per sq.ft, the total guideline value would be Rs 35,20,000. The stamp duty at 7% would be Rs 2,46,400, and the registration fee at 2% would be Rs 70,400, bringing the total to Rs 3,16,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Muthu Nagar?

The Sub Registrar Office covering Muthu Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai - 600 069. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of property transactions in Madanandapuram. It serves as the basis for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value helps determine the minimum price at which a property can be registered. This ensures transparency and fairness in property transactions within the region.

Frequently asked questions

What is the current guideline value of Muthu Nagar?

The current guideline value of Muthu Nagar is Rs 3,520 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value of Muthu Nagar has changed from Rs 3,200 per sq.ft in 2012 to Rs 2,144 per sq.ft in 2017, then increased to Rs 3,200 per sq.ft in 2023, and finally to Rs 3,520 per sq.ft in 2024.

What is the land classification of Muthu Nagar?

Muthu Nagar is classified as Residential Special Type - II, indicating its suitability for residential development.

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

For a property valued at Rs 35,20,000, the stamp duty would be Rs 2,46,400, and the registration fee would be Rs 70,400, totaling Rs 3,16,800.

Where is the Sub Registrar Office for Muthu Nagar located?

The Sub Registrar Office for Muthu Nagar is located at No.59, Road Street, Kundrathur, Chennai - 600 069, under the Kunrathur registration zone.