Guideline Value for Muthamil Nagar 1st Block 10th Street

Muthamil Nagar 1st Block 10th Street guideline value

The current guideline value of Muthamil Nagar 1st Block 10th 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 1st Block 10th Street has changed

The guideline value for Muthamil Nagar 1st Block 10th Street has undergone several revisions over the years. In 2012, the value was Rs 3,000 per sq.ft, which then decreased to Rs 2,010 per sq.ft in 2017. Following this, the value increased significantly to Rs 3,000 per sq.ft in 2023, and currently stands at Rs 3,300 per sq.ft as of the 2024 revision, marking a 10% increase from the previous year.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value rose by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

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 per the 2024 revision. The median guideline value in this area is Rs 2,700 per sq.ft, which means that Muthamil Nagar 1st Block 10th Street's current value of Rs 3,300 per sq.ft is above this median.

• Muthamil Nagar 196th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar 1st Block 11th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar 195th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar 1st Block 12th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar 194th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar 1st Block 13th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Muthamil Nagar 1st Block 10th 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, resulting in a total of Rs 2,97,000. It is important to note that the stamp 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 1st Block 10th Street?

The Muthamil Nagar 1st Block 10th 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 further assistance.

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

The guideline value is a crucial factor when registering property transactions in Kodungaiyur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate 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 and sellers should ensure that the sale price is in line with the guideline value to avoid any legal complications during registration.

Frequently asked questions

What is the current guideline value for Muthamil Nagar 1st Block 10th Street?

The current guideline value for Muthamil Nagar 1st Block 10th 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 increased to Rs 3,000 per sq.ft in 2023, and is currently Rs 3,300 per sq.ft in 2024.

What is the land classification for Muthamil Nagar 1st Block 10th Street?

Muthamil Nagar 1st Block 10th Street is classified as Residential Special Type - I.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office covering Muthamil Nagar 1st Block 10th Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is stamp duty calculated for properties in Muthamil Nagar 1st Block 10th Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 33,00,000 would incur a stamp duty of Rs 2,31,000 at 7%.