Guideline Value for Muthamil Nagar 1st Block 11th Street

Muthamil Nagar 1st Block 11th Street guideline value

The current guideline value of Muthamil Nagar 1st Block 11th 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 11th Street has changed

Reviewing the revisions, the guideline value for Muthamil Nagar 1st Block 11th Street has seen several changes over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which then decreased to Rs 2,010 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 3,000 per sq.ft, reflecting a rise of 49%. The most recent revision in 2024 has further increased the guideline value to Rs 3,300 per sq.ft, a 10% increase from the previous year.

The register does not contain figures for the years 2002, 2003, and 2007 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 1st Block 11th Street's 2024 guideline value is above this median.

• Muthamil Nagar 1st Block 10th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar 1st Block 12th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar 196th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar 1st Block 13th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar 195th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar 1st Block 14th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Muthamil Nagar 1st Block 11th 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. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Muthamil Nagar 1st Block 11th Street?

The Muthamil Nagar 1st Block 11th Street is covered by the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. For more information, you can find your SRO.

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

The guideline value is a critical factor in property transactions in Kodungaiyur, as it determines the minimum price at which a property can be registered. When buying or selling property, the guideline value ensures that the transaction is documented at a fair price, reflecting the current market conditions.

It is essential for buyers and sellers to be aware of the guideline value, as it directly affects the stamp duty and registration fees that are payable at the time of registration. Understanding these values helps in making informed decisions during property transactions.

Frequently asked questions

What is the current guideline value of Muthamil Nagar 1st Block 11th Street?

The current guideline value of Muthamil Nagar 1st Block 11th 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 finally to Rs 3,300 per sq.ft in 2024.

What is the land classification of Muthamil Nagar 1st Block 11th Street?

The land classification for Muthamil Nagar 1st Block 11th Street is Residential Special Type - I.

What are the stamp duty and registration fees for property in this area?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total stamp duty and registration fee would amount to Rs 2,97,000.

Which office handles property registrations for Muthamil Nagar 1st Block 11th Street?

The Madhavaram Sub Registrar Office handles property registrations for Muthamil Nagar 1st Block 11th Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.