Guideline Value for Muthuthamizh Nagar

Muthuthamizh Nagar guideline value

The current guideline value of Muthuthamizh Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Thiruneermalai village under the Pammal SRO, classified as Residential Class I Type - II.

How the guideline value of Muthuthamizh Nagar has changed

The guideline value for Muthuthamizh Nagar has seen several revisions over the years. The 2017 revision set the value at Rs 1,340 per sq.ft, which increased to Rs 2,000 per sq.ft in the 2023 revision, marking a 49% rise. The latest revision in 2024 has further increased the guideline value to Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Thiruneermalai

In Thiruneermalai, there are 316 streets under the Pammal SRO with a 2024 guideline value ranging from Rs 1,320 to Rs 6,240 per sq.ft. The median guideline value for these streets is Rs 2,420 per sq.ft, placing Muthuthamizh Nagar's 2024 figure below this median.

• Muthurangam Street: Rs 2,200 per sq.ft (2024)
• Nagappa Nagar 1st Cross Road: Rs 3,300 per sq.ft (2024)
• Nagappa Nagar 1st Cross Street: Rs 3,300 per sq.ft (2024)
• Nagappa Nagar 1st Main Road: Rs 3,300 per sq.ft (2024)
• Nagappa Nagar 2nd Cross Road: Rs 3,300 per sq.ft (2024)
• Nagappa Nagar 2nd Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Muthuthamizh Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees together to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Muthuthamizh Nagar?

The Muthuthamizh Nagar area falls under the jurisdiction of the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. To find more information about your SRO, you can find your SRO.

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

The guideline value is a crucial factor in the property registration process in Thiruneermalai. It serves as a benchmark for determining the value of the property being bought or sold, ensuring that the transaction is recorded accurately in the government records.

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

Frequently asked questions

What is the current guideline value of Muthuthamizh Nagar?

The current guideline value of Muthuthamizh Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 1,340 per sq.ft to Rs 2,200 per sq.ft in 2024, marking an overall increase of 64%.

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

For a 1,000 sq.ft property at the current guideline value, the stamp duty would be Rs 1,54,000, and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which Sub Registrar Office covers Muthuthamizh Nagar?

The Pammal Sub Registrar Office covers Muthuthamizh Nagar, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the median guideline value for streets in Thiruneermalai?

The median guideline value for the 316 streets in Thiruneermalai is Rs 2,420 per sq.ft, with Muthuthamizh Nagar's value being below this median.