Guideline Value for Muthumariamman Nagar

Muthumariamman Nagar guideline value

The current guideline value of Muthumariamman Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024. This area is located in Tambaram village under the Tambaram Joint 1 SRO, classified as Residential Class I Type - III.

How the guideline value of Muthumariamman Nagar has changed

The guideline value for Muthumariamman Nagar has seen several revisions over the years. In the 2007 revision, the value was Rs 400 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012, marking a 275% rise. However, in the 2017 revision, the value decreased to Rs 1,005 per sq.ft, a drop of 33%. The value then increased to Rs 1,500 per sq.ft in 2023, and further rose to Rs 1,650 per sq.ft in the 2024 revision, reflecting a 10% increase.

Overall, from 2007 to 2024, the guideline value has increased by 313%. It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street.

Guideline values in Tambaram

In Tambaram, there are 360 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 880 to Rs 8,250 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, placing Muthumariamman Nagar's 2024 figure below that median.

• Muthulingam Street: Rs 2,200 per sq.ft (2024)
• Muthurangam Reddy Street: Rs 6,600 per sq.ft (2024)
• Muthurangam Street: Rs 6,600 per sq.ft (2024)
• Muthuranga Mudhali Street: Rs 6,600 per sq.ft (2024)
• Nadhu Street: Rs 1,320 per sq.ft (2024)
• Mullai Nagar (TNHB Colony): Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Muthumariamman Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, totaling Rs 1,48,500. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Muthumariamman Nagar?

The Sub Registrar Office that covers Muthumariamman Nagar is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Tambaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring compliance with local regulations.

When a property transaction occurs, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Muthumariamman Nagar?

The current guideline value of Muthumariamman Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 313% over the years.

What is the classification of land in Muthumariamman Nagar?

Muthumariamman Nagar is classified as Residential Class I Type - III under the Tambaram Joint 1 SRO.

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

For a plot of 1,000 sq.ft, the total guideline value is Rs 16,50,000, with a stamp duty of Rs 1,15,500 and a registration fee of Rs 33,000, totaling Rs 1,48,500.

Which office handles registrations for Muthumariamman Nagar?

The Tambaram Joint 1 Sub Registrar Office handles registrations for Muthumariamman Nagar, located at No.26, Mes Road, East Tambaram, Chennai-600059.