Guideline Value for Muthukumarappa Nagar

Muthukumarappa Nagar guideline value

The current guideline value of Muthukumarappa Nagar, located in Ayanavaram village under the AnnaNagar SRO, is Rs 4,400 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - I land classification.

How the guideline value of Muthukumarappa Nagar has changed

Over the years, the guideline value of Muthukumarappa Nagar has seen several revisions. The 2012 revision set the value at Rs 4,000 per sq.ft, which was followed by a decrease to Rs 2,680 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly to Rs 4,000 per sq.ft, marking a 49% rise. The most recent revision in 2024 established the current value at Rs 4,400 per sq.ft, reflecting a 10% increase from the previous year.

The register for the years 2002, 2003, and 2007 does not contain any figures for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Ayanavaram

Ayanavaram has a total of 369 streets under the AnnaNagar SRO, with 2024 guideline values ranging from Rs 2,700 to Rs 20,000 per sq.ft. The median guideline value in this area is Rs 4,900 per sq.ft, indicating that Muthukumarappa Nagar's current figure is below this median.

• Muthukumarappa Street & Nagar Chennai 82: Rs 4,400 per sq.ft (2024)
• Muthamman Nagar: Rs 4,400 per sq.ft (2024)
• Muthamman koil street: Rs 4,900 per sq.ft (2024)
• Muthamman koil lane: Rs 4,900 per sq.ft (2024)
• Muthamman koil Ist lane: Rs 4,900 per sq.ft (2024)
• Muthamman koil 2nd lane: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Muthukumarappa Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total cost for these fees to Rs 3,96,000. It is important to note that the duty is charged on either the guideline value or the sale price, whichever is higher. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Muthukumarappa Nagar?

The Muthukumarappa Nagar area is covered by the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Ayanavaram. It serves as a reference point for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the buyer must pay the applicable stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Muthukumarappa Nagar?

The current guideline value of Muthukumarappa Nagar is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,000 per sq.ft in 2012 to Rs 2,680 per sq.ft in 2017, then to Rs 4,000 per sq.ft in 2023, and finally to Rs 4,400 per sq.ft in 2024.

What is the median guideline value in Ayanavaram?

The median guideline value in Ayanavaram is Rs 4,900 per sq.ft, which indicates that Muthukumarappa Nagar's current value is below this median.

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

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Which Sub Registrar Office covers Muthukumarappa Nagar?

The AnnaNagar Sub Registrar Office covers Muthukumarappa Nagar, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.