Guideline Value for Muthamil Nagar 195th Street

Muthamil Nagar 195th Street guideline value

The current guideline value for Muthamil Nagar 195th 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 195th Street has changed

Over the years, the guideline value for Muthamil Nagar 195th Street has seen several revisions. 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. Following this, the 2023 revision increased the value to Rs 3,000 per sq.ft, and the most recent 2024 revision has raised it to Rs 3,300 per sq.ft.

In terms of percentage changes, there was a significant increase of 49% from the 2017 to 2023 revision. The 2023 to 2024 revision saw a 10% increase. Overall, comparing the 2012 revision to the 2024 revision, there has been a 10% increase in the guideline value. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Kodungaiyur

In Kodungaiyur, there are 1,318 streets under the Madhavaram SRO with a 2024 guideline value ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median value among these streets is Rs 2,700 per sq.ft, making Muthamil Nagar 195th Street's 2024 guideline value above this median.

• Muthamil Nagar 194th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar 196th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar 193th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar 1st Block 10th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar 192th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar 1st Block 11th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Muthamil Nagar 195th 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, while the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Muthamil Nagar 195th Street?

The Sub Registrar Office that covers Muthamil Nagar 195th Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for further assistance.

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

The guideline value plays a crucial role when buying or selling property in Kodungaiyur. It serves as a reference point for determining the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees, ensuring compliance with local regulations.

When a property is sold, the guideline value is compared with the sale price. The higher of the two values is used for calculating the applicable duties and fees, ensuring that the transaction is recorded accurately in the official register.

Frequently asked questions

What is the current guideline value for Muthamil Nagar 195th Street?

The current guideline value for Muthamil Nagar 195th 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 back 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 195th Street?

Muthamil Nagar 195th Street is classified as Residential Special Type - I.

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 in Muthamil Nagar 195th Street?

The Madhavaram Sub Registrar Office handles property registrations for Muthamil Nagar 195th Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.