Guideline Value for SRI MUTHU NAGAR

Sri Muthu Nagar guideline value

The current guideline value of Sri Muthu Nagar is Rs 100 per sq.ft, effective from 1 July 2024. This area is located in Gunippalaiyam village and falls under the Oothukkottai SRO, classified as Residential Class I Type - I.

How the guideline value of Sri Muthu Nagar has changed

The guideline value for Sri Muthu Nagar has seen several revisions over the years. The earliest available figure is from 2012, where the guideline value was Rs 75 per sq.ft. In 2017, this increased to Rs 50 per sq.ft, marking a decrease of 33%. However, from 2017 to 2023, the value rose significantly to Rs 100 per sq.ft, reflecting a 100% increase. The 2023 revision maintained this value, and as of 1 July 2024, the guideline value remains at Rs 100 per sq.ft, showing no change from the previous year.

For the years 2002, 2003, and 2007, the register has no figure for this street. Overall, from 2012 to 2024, the guideline value has increased by 33%.

Guideline values in Gunippalaiyam

In Gunippalaiyam, there are 11 streets under the Oothukkottai SRO that carry a 2024 guideline value, all set at Rs 100 per sq.ft. The median for these streets is also Rs 100 per sq.ft, placing Sri Muthu Nagar at the same level as the median.

• Sri Bavani Amman Nagar: Rs 100 per sq.ft (2024)
• Sri Valampuri Nagar: Rs 100 per sq.ft (2024)
• Valampuri Nagar: Rs 100 per sq.ft (2024)
• V.R.G. Nagar: Rs 100 per sq.ft (2024)
• Mothinagar Annex: Rs 100 per sq.ft (2024)
• Mothi Nagar: Rs 100 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Muthu Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 100 per sq.ft, the total guideline value amounts to Rs 1,00,000. The stamp duty at 7% would be Rs 7,000, and the registration fee at 2% would be Rs 2,000, bringing the total fees to Rs 9,000. It is important to note that 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 Muthu Nagar?

The Sub Registrar Office that covers Sri Muthu Nagar is 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 Gunippalaiyam

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

When registering a property, the guideline value is compared to the sale price, and the duty is charged on whichever amount is higher. This ensures that the registration process reflects the current value of the property in the market.

Frequently asked questions

What is the current guideline value of Sri Muthu Nagar?

The current guideline value of Sri Muthu Nagar is Rs 100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 75 per sq.ft in 2012 to Rs 100 per sq.ft in 2024, with a significant increase of 100% from 2017 to 2023.

What are the stamp duty rates for properties in Sri Muthu Nagar?

The stamp duty rate for properties in Sri Muthu Nagar is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Which office handles property registrations in Sri Muthu Nagar?

The Oothukkottai Sub Registrar Office handles property registrations in Sri Muthu Nagar, located near the government hospital in Uthukottai.

What is the land classification of Sri Muthu Nagar?

Sri Muthu Nagar is classified as Residential Class I Type - I, indicating its designation for residential purposes.