Guideline Value for Muthukumaran nagar

Muthukumaran nagar guideline value

The current guideline value of Muthukumaran nagar is Rs 3,250 per sq.ft, effective from 1 July 2024. This area is located in Poonthamallee village, under the Poonamallee SRO, and is classified as Commercial Class I Type - II.

How the guideline value of Muthukumaran nagar has changed

The guideline value for Muthukumaran nagar has undergone several revisions over the years. The earliest recorded revision was in 2007, where the value was Rs 300 per sq.ft. This increased significantly to Rs 3,000 per sq.ft in 2012, marking a rise of 900%. However, between 2012 and 2017, the value decreased to Rs 2,010 per sq.ft, a drop of 33%. The value then increased to Rs 3,000 per sq.ft in 2023, reflecting a rise of 49%. The most recent revision in 2024 set the guideline value at Rs 3,250 per sq.ft, which is an increase of 8% from the previous year.

There are no recorded figures for the years 2002 and 2003 for Muthukumaran nagar. Overall, from 2007 to 2024, the guideline value has increased by 983%.

Guideline values in Poonthamallee

In Poonthamallee village, there are 257 streets under the Poonamallee SRO that carry a 2024 guideline value ranging from Rs 1,980 to Rs 4,950 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Muthukumaran nagar's 2024 figure above this median.

• Muthu nagar: Rs 2,740 per sq.ft (2024)
• Muthamizh nagar: Rs 2,200 per sq.ft (2024)
• Muthuswami nagar: Rs 1,980 per sq.ft (2024)
• Nambi Nagar 1st Cross Street: Rs 2,200 per sq.ft (2024)
• Nambi Nagar 2nd Cross Street: Rs 2,200 per sq.ft (2024)
• Nambi Nagar 2nd Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Muthukumaran nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,250 per sq.ft, the total guideline value amounts to Rs 32,50,000. The stamp duty at 7% would be Rs 2,27,500, and the registration fee at 2% would be Rs 65,000, resulting in a total of Rs 2,92,500. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Muthukumaran nagar?

The Sub Registrar Office that covers Muthukumaran nagar is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions within Poonthamallee. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that all transactions are conducted at a fair and transparent price.

When buying or selling property, the guideline value is used to calculate stamp duty and registration fees, which are mandatory for the legal transfer of property ownership. This ensures that both buyers and sellers are aware of the financial implications of their transactions.

Frequently asked questions

What is the current guideline value of Muthukumaran nagar?

The current guideline value of Muthukumaran nagar is Rs 3,250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 300 per sq.ft in 2007 to Rs 3,250 per sq.ft in 2024, reflecting an overall increase of 983% over this period.

What are the stamp duty and registration fees for properties in Muthukumaran nagar?

For a property valued at Rs 32,50,000, the stamp duty would be Rs 2,27,500 and the registration fee would be Rs 65,000, totaling Rs 2,92,500.

Which office handles property registration in Muthukumaran nagar?

The Poonamallee Sub Registrar Office is responsible for property registration in Muthukumaran nagar, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.

What is the land classification of Muthukumaran nagar?

Muthukumaran nagar is classified as Commercial Class I Type - II, indicating its suitability for commercial activities.