Guideline Value for Muthamil Nagar 188th Street

Muthamil Nagar 188th Street guideline value

The current guideline value of Muthamil Nagar 188th 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 188th Street has changed

The guideline value for Muthamil Nagar 188th Street has undergone several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which remained unchanged through the 2023 revision. However, in the 2024 revision, the guideline value increased to Rs 3,300 per sq.ft, marking a 10% rise from the previous year.

There are no figures available for the revisions in 2002, 2003, 2007, and 2017 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

Guideline values in Kodungaiyur

Kodungaiyur 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 as of 2024. The median guideline value for the village is Rs 2,700 per sq.ft, placing Muthamil Nagar 188th Street above this median.

• Muthamil Nagar 170th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar 189th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar 169th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar 190th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar 140th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar 191th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Muthamil Nagar 188th 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 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. Please 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 further calculations.

Which Sub Registrar Office covers Muthamil Nagar 188th Street?

The Sub Registrar Office that covers Muthamil Nagar 188th 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 plays a crucial role in property transactions in Kodungaiyur, as it serves as the basis for calculating stamp duty and registration fees. When buying or selling property, the guideline value is considered to ensure that the transaction is registered at a fair value.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly affects the financial obligations during the registration process. Understanding these values can help in making informed decisions during property transactions.

Frequently asked questions

What is the current guideline value of Muthamil Nagar 188th Street?

The current guideline value of Muthamil Nagar 188th 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 increased from Rs 3,000 per sq.ft in 2012 to Rs 3,300 per sq.ft in 2024, reflecting a 10% increase. There were no changes recorded for the years 2002, 2003, 2007, and 2017 for this street.

What is the land classification for Muthamil Nagar 188th Street?

The land classification for Muthamil Nagar 188th Street is 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 the current guideline value of 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. Duty is charged on the higher of the guideline value or the sale price.

Where is the Madhavaram Sub Registrar Office located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles the registration of properties in the area.