Guideline Value for Muthamil Nagar 137th Street

Muthamil Nagar 137th Street guideline value

The current guideline value of Muthamil Nagar 137th 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 137th Street has changed

The guideline value for Muthamil Nagar 137th Street has undergone several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which was then reduced to Rs 2,010 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly to Rs 3,000 per sq.ft, and the latest 2024 revision has further raised it to Rs 3,300 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Kodungaiyur

In Kodungaiyur, there are 1,318 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,900 to Rs 4,000 per sq.ft, with a median value of Rs 2,700 per sq.ft. Muthamil Nagar 137th Street's 2024 figure of Rs 3,300 per sq.ft is above this median.

• Muthamil Nagar 136th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar 138th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar 139th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar 110th Street: Rs 3,800 per sq.ft (2024)
• Muthamil Nagar 140th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar 10th Main Road: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Muthamil Nagar 137th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty, charged at 7%, would be 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 duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Muthamil Nagar 137th Street?

The Muthamil Nagar 137th Street falls under the jurisdiction of the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. For more information, you can find your SRO.

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

The guideline value plays a crucial role during property transactions in Kodungaiyur. It serves as a benchmark for determining the minimum value at which properties can be registered. Buyers and sellers must consider this value to ensure compliance with legal requirements during the registration process.

When a property is sold, the registration office uses the guideline value to calculate the applicable stamp duty and registration fees. This ensures that the transaction is recorded accurately and fairly according to the established rates.

Frequently asked questions

What is the current guideline value of Muthamil Nagar 137th Street?

The current guideline value of Muthamil Nagar 137th 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 changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then increased to Rs 3,000 per sq.ft in 2023 and finally to Rs 3,300 per sq.ft in 2024.

What is the land classification for Muthamil Nagar 137th Street?

Muthamil Nagar 137th Street is classified as Residential Special Type - I.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is stamp duty calculated for properties in Muthamil Nagar 137th Street?

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