Guideline Value for Muthumani Nagar

Muthumani Nagar guideline value

The current guideline value of Muthumani Nagar is Rs 2,090 per sq.ft, effective from 1 July 2024. This area is located in Noombal village and falls under the Kunrathur SRO, classified as Residential Special Type - I.

How the guideline value of Muthumani Nagar has changed

The guideline value of Muthumani Nagar has seen significant changes over the years. In the 2003 revision, the guideline value was Rs 163 per sq.ft. This figure increased to Rs 1,273 per sq.ft in 2017, marking a substantial rise of 681%. The next revision in 2023 set the value at Rs 1,900 per sq.ft, which was a 49% increase from the previous figure. The most recent revision in 2024 has raised the guideline value to Rs 2,090 per sq.ft, reflecting a 10% increase from 2023.

It is important to note that there are no figures available for the years 2002, 2007, and 2012 in the register for Muthumani Nagar. Overall, from 2003 to 2024, the guideline value has increased by 1182%.

Guideline values in Noombal

Noombal village has a total of 164 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,500 per sq.ft. The median value for these streets is Rs 2,090 per sq.ft, which is equal to the current guideline value for Muthumani Nagar.

• Muthu Nagar: Rs 2,090 per sq.ft (2024)
• Moventher Nagar: Rs 2,090 per sq.ft (2024)
• Mooventher Nagar Phase 1: Rs 2,090 per sq.ft (2024)
• Mooventher Nagar Annexe: Rs 2,090 per sq.ft (2024)
• Navasakthi Nagar: Rs 2,090 per sq.ft (2024)
• Moogambigai Nagar Ist Cross Street: Rs 2,090 per sq.ft (2024)

Stamp duty and registration fee for property in Muthumani Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,090 per sq.ft, the total guideline value amounts to Rs 20,90,000. The stamp duty at 7% would be Rs 1,46,300, and the registration fee at 2% would be Rs 41,800, bringing the total to Rs 1,88,100. It is important to note that the 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 detailed calculations.

Which Sub Registrar Office covers Muthumani Nagar?

The Sub Registrar Office that covers Muthumani Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Noombal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees.

When a property is sold, the buyer and seller must consider the guideline value to calculate the applicable fees. This ensures transparency and fairness in property transactions, as the guideline value reflects the official assessment of property worth in the area.

Frequently asked questions

What is the current guideline value of Muthumani Nagar?

The current guideline value of Muthumani Nagar is Rs 2,090 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased significantly from Rs 163 per sq.ft in 2003 to Rs 2,090 per sq.ft in 2024, marking an overall increase of 1182% over this period.

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

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty is Rs 1,46,300 and the registration fee is Rs 41,800, totaling Rs 1,88,100.

Which Sub Registrar Office covers Muthumani Nagar?

The Kunrathur Sub Registrar Office covers Muthumani Nagar, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the land classification of Muthumani Nagar?

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