Guideline Value for Sri Muthu Nagar

Sri Muthu Nagar guideline value

The current guideline value of Sri Muthu Nagar in Madanandapuram village is Rs 3,520 per sq.ft, effective from 1 July 2024. This area falls under the Kunrathur SRO and is classified as Residential Special Type - II.

How the guideline value of Sri Muthu Nagar has changed

The guideline value for Sri Muthu Nagar has undergone several revisions over the years. The oldest recorded figure is from 2007, with a guideline value of Rs 400 per sq.ft. This value saw a significant increase to Rs 3,200 per sq.ft in 2012, marking a rise of 700%. However, it then decreased to Rs 2,144 per sq.ft in 2017, a decline of 33%. The value increased again to Rs 3,200 per sq.ft in 2023, followed by a further rise to Rs 3,520 per sq.ft in 2024, which is a 10% increase from the previous year.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 780%.

Guideline values in Madanandapuram

Madanandapuram has a total of 94 streets under the Kunrathur SRO, with guideline values ranging from Rs 2,530 to Rs 5,830 per sq.ft. The median value is Rs 3,520 per sq.ft, which is the same as the current guideline value for Sri Muthu Nagar.

• Sri Muthu mariyamman Nagar: Rs 3,520 per sq.ft (2024)
• Sri Moogambigai Nagar: Rs 3,520 per sq.ft (2024)
• Sri Natarajan Nagar: Rs 3,520 per sq.ft (2024)
• Sri Rajarajeswari Nagar: Rs 3,190 per sq.ft (2024)
• Sri Annai Avenue: Rs 3,520 per sq.ft (2024)
• Sri Amman Nagar: Rs 3,520 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 3,520 per sq.ft, the total guideline value would be Rs 35,20,000. The stamp duty at 7% would amount to Rs 2,46,400, while the registration fee at 2% would be Rs 70,400. Therefore, the total cost for stamp duty and registration would be Rs 3,16,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Sri Muthu Nagar?

The Sri Muthu Nagar area falls under the jurisdiction of the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. For more information, you can find your SRO.

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

The guideline value is an essential factor during the registration of property transactions in Madanandapuram. It serves as a reference point for determining the stamp duty and registration fees that must be paid when a property is bought or sold.

When registering a property, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sri Muthu Nagar?

The current guideline value of Sri Muthu Nagar is Rs 3,520 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 3,520 per sq.ft in 2024, reflecting an overall increase of 780% over the years.

What are the stamp duty and registration fees for properties in Sri Muthu Nagar?

For a property valued at Rs 35,20,000, the stamp duty would be Rs 2,46,400, and the registration fee would be Rs 70,400, totaling Rs 3,16,800.

Which office handles property registrations in Sri Muthu Nagar?

The Kunrathur Sub Registrar Office handles property registrations for Sri Muthu Nagar, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the land classification for Sri Muthu Nagar?

Sri Muthu Nagar is classified as Residential Special Type - II under the current land classification.