Guideline Value for SRI MUTHAPPA NAGAR

Sri Muthappa Nagar guideline value

The current guideline value of Sri Muthappa Nagar, located in Meyur village under the Oothukkottai SRO, is Rs 150 per sq.ft as per the 2024 revision effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Sri Muthappa Nagar has changed

The guideline value for Sri Muthappa Nagar has seen several revisions over the years. The 2017 revision set the value at Rs 100 per sq.ft, which remained until the 2023 revision, where it increased to Rs 150 per sq.ft. The 2024 revision also maintains this figure at Rs 150 per sq.ft, indicating no change from the previous year. The revisions for the years 2012, 2007, 2003, and 2002 do not have any figures recorded for this street.

From 2017 to 2023, the guideline value increased by 50%. Overall, from 2017 to 2024, the increase remains at 50%, with the current rate reflecting a consistent valuation since 2023.

Guideline values in Meyur

In Meyur, there are 12 streets under the Oothukkottai SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 150 per sq.ft. The median guideline value for these streets is Rs 100 per sq.ft, placing Sri Muthappa Nagar above this median.

• Sri Sakthi Nagar: Rs 100 per sq.ft (2024)
• Sri Balaji Avenue: Rs 100 per sq.ft (2024)
• Rv Nagar: Rs 100 per sq.ft (2024)
• Vijayalakshmi Nagar: Rs 100 per sq.ft (2024)
• Vijayalakshmi Nagar -Ext: Rs 100 per sq.ft (2024)
• Vijayalakshmi Nagar-Phas-II: Rs 100 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Muthappa Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 150 per sq.ft, the total guideline value is Rs 1,50,000. The stamp duty at 7% would be Rs 10,500, and the registration fee at 2% would be Rs 3,000, bringing the total to Rs 13,500. It's important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Muthappa Nagar?

Sri Muthappa Nagar falls under the jurisdiction of the Oothukkottai Sub Registrar Office, located near the government hospital in Uthukottai, 602026, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Meyur. It serves as a benchmark for determining the stamp duty and registration fees that are applicable during the transaction.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two values is used to calculate the necessary fees. This ensures that the fees reflect the true value of the property being transacted.

Frequently asked questions

What is the current guideline value of Sri Muthappa Nagar?

The current guideline value of Sri Muthappa Nagar is Rs 150 per sq.ft as per the 2024 revision effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased by 50%, moving from Rs 100 per sq.ft to Rs 150 per sq.ft in 2023 and remaining the same in 2024.

What are the other streets in Meyur and their guideline values?

Other streets in Meyur include Sri Sakthi Nagar, Sri Balaji Avenue, Rv Nagar, Vijayalakshmi Nagar, Vijayalakshmi Nagar -Ext, and Vijayalakshmi Nagar-Phas-II, all with a guideline value of Rs 100 per sq.ft for 2024.

What fees are associated with buying property in Sri Muthappa Nagar?

The fees include a stamp duty of 7% and a registration fee of 2% based on the higher of the guideline value or the sale price. For a 1,000 sq.ft plot, the total fees would amount to Rs 13,500.

Where can I find the Sub Registrar Office for Sri Muthappa Nagar?

The Oothukkottai Sub Registrar Office covers Sri Muthappa Nagar and is located near the government hospital in Uthukottai, 602026, Chennai registration zone.