Guideline Value for Muthuswami nagar

Muthuswami nagar guideline value

The current guideline value of Muthuswami nagar is Rs 1,980 per sq.ft, effective from 1 July 2024. This area is located in Poonthamallee village, under the Poonamallee SRO, and is classified as Residential Class III Type - I.

How the guideline value of Muthuswami nagar has changed

The guideline value for Muthuswami nagar has seen several revisions over the years. In 2007, the guideline value was Rs 300 per sq.ft, which increased significantly to Rs 1,800 per sq.ft in 2012. However, it then decreased to Rs 1,206 per sq.ft in 2017. The value rose again to Rs 1,800 per sq.ft in 2023, and currently stands at Rs 1,980 per sq.ft from the 2024 revision. The register has no figures for the years 2002 and 2003 for this street.

From 2017 to 2023, the value increased by 49%, while from 2012 to 2017, it decreased by 33%. The jump from 2007 to 2012 was remarkable at 500%. Overall, from 2007 to 2024, the guideline value has increased by 560%.

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, with a median value of Rs 2,200 per sq.ft. Muthuswami nagar's 2024 figure is below this median.

• Muthu nagar: Rs 2,740 per sq.ft (2024)
• Muthukumaran nagar: Rs 3,250 per sq.ft (2024)
• Muthamizh nagar: Rs 2,200 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 Muthuswami nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total to Rs 1,78,200. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for your specific requirements.

Which Sub Registrar Office covers Muthuswami nagar?

The Sub Registrar Office that covers Muthuswami nagar is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonallee Chennai - 600056. To find your SRO, you can visit find your SRO.

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

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

When buying or selling a property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these costs are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Muthuswami nagar?

The current guideline value of Muthuswami nagar is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 1,980 per sq.ft in 2024, reflecting an overall increase of 560% over this period.

What is the land classification of Muthuswami nagar?

Muthuswami nagar is classified as Residential Class III Type - I, indicating its suitability for residential development.

What are the stamp duty rates applicable in Muthuswami nagar?

The stamp duty rate applicable in Muthuswami nagar is 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Muthuswami nagar?

The Sub Registrar Office for Muthuswami nagar is located at No.332 U + 9cc Malma Nagar Poonallee Chennai - 600056. You can find more details by visiting the official site.