Guideline Value for Muthamil Nagar 109th Street

Muthamil Nagar 109th Street guideline value

The current guideline value of Muthamil Nagar 109th Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village, under the Madhavaram SRO, and is classified as Residential Special Type - I.

How the guideline value of Muthamil Nagar 109th Street has changed

The guideline value for Muthamil Nagar 109th Street has undergone several revisions over the years. The earliest available figure is from the 2012 revision, which was Rs 3,000 per sq.ft. This was followed by a decrease to Rs 2,010 per sq.ft in the 2017 revision. In the 2023 revision, the value increased to Rs 3,000 per sq.ft, and the latest revision in 2024 has set the guideline value at Rs 3,300 per sq.ft.

Between the revisions, several changes have occurred. From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased significantly by 49%. The most recent change from 2023 to 2024 reflects a 10% increase, resulting in the current guideline value of Rs 3,300 per sq.ft.

Guideline values in Kodungaiyur

Kodungaiyur village has a total of 1,318 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median guideline value in this area is Rs 2,700 per sq.ft, positioning Muthamil Nagar 109th Street above this median.

• Muthamil Nagar 108th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar 10th Main Road: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar 110th Street: Rs 3,800 per sq.ft (2024)
• Muthamil Nagar 136th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar 137th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar 138th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Muthamil Nagar 109th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to 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.

You can use our stamp duty and registration fee calculator for more details on fees applicable to your property.

Which Sub Registrar Office covers Muthamil Nagar 109th Street?

The Sub Registrar Office that covers Muthamil Nagar 109th Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration process when buying or selling property in Kodungaiyur. It serves as a benchmark for determining the stamp duty and registration fees that must be paid to the government.

When a property is registered, the guideline value is considered alongside the sale price, and the higher of the two amounts is used to calculate the applicable duties and fees. This ensures that the government receives the correct revenue based on the actual value of the transaction.

Frequently asked questions

What is the current guideline value of Muthamil Nagar 109th Street?

The current guideline value of Muthamil Nagar 109th Street 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 seen several changes, starting from Rs 3,000 per sq.ft in 2012, decreasing to Rs 2,010 per sq.ft in 2017, and then increasing to Rs 3,000 per sq.ft in 2023, before reaching Rs 3,300 per sq.ft in 2024.

What is the land classification for Muthamil Nagar 109th Street?

Muthamil Nagar 109th Street is classified as Residential Special Type - I, indicating its designation for residential use.

Where can I find the Sub Registrar Office for Muthamil Nagar 109th Street?

The Madhavaram Sub Registrar Office covers Muthamil Nagar 109th Street and is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is the stamp duty calculated for properties in Muthamil Nagar 109th Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 33,00,000 would incur a stamp duty of Rs 2,31,000 at 7%.