Guideline Value for Muthamil Nagar 170th Street

Muthamil Nagar 170th Street guideline value

The current guideline value of Muthamil Nagar 170th 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 170th Street has changed

Over the years, the guideline value of Muthamil Nagar 170th Street has seen several revisions. The most recent revision in 2024 set the value at Rs 3,300 per sq.ft, which is an increase of 10% from the 2023 revision of Rs 3,000 per sq.ft. Prior to that, the 2012 revision also recorded Rs 3,000 per sq.ft. There are no figures available for the years 2002, 2003, 2007, and 2017 in the register for this street.

From 2012 to 2024, the overall increase in the guideline value is 10%. The absence of changes in the 2012 to 2023 period indicates stability in the guideline value during those years, reflecting no increase in that time frame.

Guideline values in Kodungaiyur

Kodungaiyur village has a total of 1,318 streets under the Madhavaram SRO, with the 2024 guideline values ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median guideline value for these streets is Rs 2,700 per sq.ft, placing Muthamil Nagar 170th Street above this median at Rs 3,300 per sq.ft.

• Muthamil Nagar 169th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar 188th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar 140th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar 189th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar 139th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar 190th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Muthamil Nagar 170th Street

For a property measuring 1,000 sq.ft 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, charged at 7%, would amount to Rs 2,31,000, while the registration fee at 2% would be Rs 66,000. The total cost for these fees would be Rs 2,97,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information on fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Muthamil Nagar 170th Street?

The Muthamil Nagar 170th Street falls under the jurisdiction of the Madhavaram Sub Registrar Office. The office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find more information by visiting the find your SRO page.

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

The guideline value plays a crucial role during the registration of property transactions in Kodungaiyur. It serves as a reference point for determining the minimum value at which a property can be registered. This ensures that the transaction is recorded at a value that reflects the prevailing market conditions.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. It is essential for buyers and sellers to be aware of the current guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Muthamil Nagar 170th Street?

The current guideline value of Muthamil Nagar 170th 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 an increase of 10% from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024. There was no change from 2012 to 2023, with the value remaining at Rs 3,000 per sq.ft.

What is the land classification of Muthamil Nagar 170th Street?

Muthamil Nagar 170th Street is classified as Residential Special Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office covers Muthamil Nagar 170th Street?

The Madhavaram Sub Registrar Office covers Muthamil Nagar 170th Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.