Guideline Value for Muthamil Nagar 193th Street

Muthamil Nagar 193th Street guideline value

The current guideline value of Muthamil Nagar 193th 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 193th Street has changed

The guideline value for Muthamil Nagar 193th Street has undergone several revisions over the years. The earliest recorded revision is from 2012, which set the value at Rs 3,000 per sq.ft. This was followed by a decrease to Rs 2,010 per sq.ft in 2017. However, the value saw a significant increase in the subsequent revisions, rising to Rs 3,000 per sq.ft in 2023, and finally reaching Rs 3,300 per sq.ft in the 2024 revision.

In terms of percentage changes, the guideline value increased by 10% from 2023 to 2024. There was a notable increase of 49% from 2017 to 2023, while the value decreased by 33% from 2012 to 2017. Overall, from 2012 to 2024, 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 in 2024. The median guideline value for these streets is Rs 2,700 per sq.ft, placing Muthamil Nagar 193th Street's 2024 figure above this median.

• Muthamil Nagar 192th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar 194th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar 191th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar 195th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar 190th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar 196th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Muthamil Nagar 193th 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. Please note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Muthamil Nagar 193th Street?

The Muthamil Nagar 193th Street falls under the jurisdiction of 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 in the registration process of property transactions in Kodungaiyur. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the transaction is documented accurately.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are mandatory for legalizing the transaction. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value of Muthamil Nagar 193th Street?

The current guideline value of Muthamil Nagar 193th 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 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 193th Street?

Muthamil Nagar 193th Street is classified as Residential Special Type - I, which indicates its designated use for residential purposes.

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.

Which office handles property registrations for Muthamil Nagar 193th Street?

The Madhavaram Sub Registrar Office handles property registrations for Muthamil Nagar 193th Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.