Guideline Value for Muthuswamy Nagar 3rd layout

Muthuswamy Nagar 3rd layout guideline value

The current guideline value of Muthuswamy Nagar 3rd layout is Rs 3,300 per sq.ft, effective from 1 July 2024. This layout is located in Hastinapuram village and falls under the Pallavaram SRO. The land classification for this area is Commercial Class I Type - II.

How the guideline value of Muthuswamy Nagar 3rd layout has changed

Over the years, the guideline value for Muthuswamy Nagar 3rd layout has undergone several revisions. The earliest recorded figure is from 2007, where the guideline value was Rs 840 per sq.ft. This increased significantly to Rs 3,000 per sq.ft in 2012, marking a 257% rise. However, it then decreased to Rs 2,010 per sq.ft in 2017, reflecting a decline of 33%. The value saw a substantial increase again to Rs 3,000 per sq.ft in 2023, and then further rose to the current Rs 3,300 per sq.ft in 2024, which is a 10% increase from the previous year.

There are no recorded figures for the years 2002 and 2003 for this street. The overall change from the 2007 revision to the 2024 revision shows an increase of 293%, highlighting the fluctuations in guideline values over the years.

Guideline values in Hastinapuram

In Hastinapuram, there are 277 streets under the Pallavaram SRO that carry a guideline value for 2024, ranging from Rs 1,650 to Rs 4,400 per sq.ft. The median guideline value in this area is Rs 2,970 per sq.ft, placing Muthuswamy Nagar 3rd layout's 2024 figure above this median.

• Muthuswamy Nagar 2nd Layout: Rs 3,300 per sq.ft (2024)
• Muthuswamy Nagar 1st Layout: Rs 3,300 per sq.ft (2024)
• Muvendar Street: Rs 1,650 per sq.ft (2024)
• Muthumariyamman Koil Street: Rs 1,650 per sq.ft (2024)
• Muthamizh Nagar: Rs 2,970 per sq.ft (2024)
• Nallappa Street: Rs 2,970 per sq.ft (2024)

Stamp duty and registration fee for property in Muthuswamy Nagar 3rd layout

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000. Together, the total cost for these fees would be Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Muthuswamy Nagar 3rd layout?

The Sub Registrar Office that covers Muthuswamy Nagar 3rd layout is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

To find your specific SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in property transactions in Hastinapuram. It is used as a benchmark for determining the minimum value at which properties can be registered. When a property is bought or sold, the guideline value helps in calculating the stamp duty and registration fees, ensuring that the state receives the appropriate revenue from property transactions.

During the registration process, buyers and sellers must ensure that the sale price is either equal to or higher than the guideline value. This ensures compliance with the regulations set by the Registration Department, which aims to maintain transparency and fairness in property dealings.

Frequently asked questions

What is the current guideline value of Muthuswamy Nagar 3rd layout?

The current guideline value of Muthuswamy Nagar 3rd layout is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 840 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 293% over the years.

What are the stamp duty and registration fees for properties in this layout?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which Sub Registrar Office serves Muthuswamy Nagar 3rd layout?

The Pallavaram Sub Registrar Office serves Muthuswamy Nagar 3rd layout, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What is the land classification for Muthuswamy Nagar 3rd layout?

The land classification for Muthuswamy Nagar 3rd layout is Commercial Class I Type - II.