Guideline Value for Muthamil Nagar 192th Street

Muthamil Nagar 192th Street guideline value

The current guideline value of Muthamil Nagar 192th 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 it falls under the Residential Special Type - I land classification.

How the guideline value of Muthamil Nagar 192th Street has changed

Looking at the revisions, the guideline value for Muthamil Nagar 192th Street has changed significantly over the years. The 2012 revision recorded a value of Rs 3,000 per sq.ft, which then decreased to Rs 2,010 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased sharply to Rs 3,000 per sq.ft, marking a 49% rise. The most recent revision in 2024 set the value at Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

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 192th Street's 2024 guideline value of Rs 3,300 per sq.ft is above this median.

• Muthamil Nagar 191th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar 193th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar 190th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar 194th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar 189th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar 195th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Muthamil Nagar 192th 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, totaling 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, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Muthamil Nagar 192th Street?

The Muthamil Nagar 192th Street falls under the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value is a critical factor in the registration process of property transactions in Kodungaiyur. It serves as the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, it is essential to be aware of the guideline value as it affects the overall cost of the transaction. Buyers should ensure that the sale price is not lower than the guideline value to avoid any legal complications during registration.

Frequently asked questions

What is the current guideline value of Muthamil Nagar 192th Street?

The current guideline value of Muthamil Nagar 192th 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 undergone several changes, with the most recent increase from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024. Over the years, it increased from Rs 2,010 per sq.ft in 2017 to Rs 3,000 per sq.ft in 2023, marking a significant rise.

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. Duty is charged on the higher of the guideline value or the sale price.

Which office handles the registration for Muthamil Nagar 192th Street?

The Madhavaram Sub Registrar Office handles the registration for Muthamil Nagar 192th Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What is the land classification for Muthamil Nagar 192th Street?

The land classification for Muthamil Nagar 192th Street is Residential Special Type - I, indicating its designated use for residential purposes.