Guideline Value for Muthumarriamman Nagar

Muthumarriamman Nagar guideline value

The current guideline value of Muthumarriamman Nagar is Rs 3,960 per sq.ft, effective from 1 July 2024. This area is located in Porur village under the Kunrathur SRO and is classified as Residential Special Type - I.

How the guideline value of Muthumarriamman Nagar has changed

The guideline value for Muthumarriamman Nagar has seen significant changes over the years. In 2002, the guideline value was Rs 430 per sq.ft, which increased to Rs 476 per sq.ft in 2003. The value rose to Rs 750 per sq.ft in 2007, and then saw a substantial increase to Rs 3,600 per sq.ft in 2012. However, it decreased to Rs 2,412 per sq.ft in 2017. The value then increased to Rs 3,600 per sq.ft in 2023, before reaching the current figure of Rs 3,960 per sq.ft in 2024.

The changes between these revisions include a 10% increase from 2023 to 2024, a 49% increase from 2017 to 2023, a 33% decrease from 2012 to 2017, a remarkable 380% increase from 2007 to 2012, a 58% increase from 2003 to 2007, and an 11% increase from 2002 to 2003. Overall, from 2002 to 2024, the guideline value has increased by 821%.

Guideline values in Porur

In Porur, there are 530 streets under the Kunrathur SRO with a 2024 guideline value ranging from Rs 2,860 to Rs 6,380 per sq.ft. The median value is Rs 3,960 per sq.ft, which is the same as the current guideline value for Muthumarriamman Nagar.

• Muthumarriamman Nagar Annex: Rs 3,960 per sq.ft (2024)
• Narayanan Street: Rs 4,290 per sq.ft (2024)
• Mugalivakkam Road (Highways): Rs 4,290 per sq.ft (2024)
• M.S. Nagar: Rs 4,290 per sq.ft (2024)
• Navamani Street: Rs 3,520 per sq.ft (2024)
• Mount Poovai Salai: Rs 6,380 per sq.ft (2024)

Stamp duty and registration fee for property in Muthumarriamman Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,960 per sq.ft, the total guideline value would be Rs 39,60,000. The stamp duty at 7% would be Rs 2,77,200, and the registration fee at 2% would be Rs 79,200, bringing the total cost for these fees to Rs 3,56,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Muthumarriamman Nagar?

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

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

The guideline value plays a crucial role during the registration of property transactions in Porur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, it is essential to be aware of the current guideline value, as it affects the overall cost of the transaction. Buyers should ensure that the sale price is not lower than the guideline value to avoid any legal issues during registration.

Frequently asked questions

What is the current guideline value of Muthumarriamman Nagar?

The current guideline value of Muthumarriamman Nagar is Rs 3,960 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 430 per sq.ft in 2002 to Rs 3,960 per sq.ft in 2024, marking an overall increase of 821% over this period.

What is the land classification for Muthumarriamman Nagar?

Muthumarriamman Nagar is classified as Residential Special Type - I, which indicates the type of development allowed in this area.

What are the stamp duty and registration fees in Muthumarriamman Nagar?

Stamp duty is charged at 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where is the Kunrathur Sub Registrar Office located?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069. This office handles registrations for properties in Muthumarriamman Nagar.