Guideline Value for Muthamil Nagar 1st Block 12th Street

Muthamil Nagar 1st Block 12th Street guideline value

The current guideline value of Muthamil Nagar 1st Block 12th 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 12th Street has changed

In the 2012 revision, the guideline value was Rs 3,000 per sq.ft. This figure decreased to Rs 2,010 per sq.ft in the 2017 revision, marking a decline of 33%. However, the value increased significantly to Rs 3,000 per sq.ft in the 2023 revision, and further rose to Rs 3,300 per sq.ft in the 2024 revision, reflecting a 10% increase.

Overall, from 2012 to 2024, the guideline value has increased by 10%. The revisions for the years 2002, 2003, and 2007 have no figures listed for this street in the register.

Guideline values in Kodungaiyur

Kodungaiyur has a range of guideline values for its 1,318 streets under the Madhavaram SRO, with figures from Rs 1,900 to Rs 4,000 per sq.ft. The median guideline value in this area is Rs 2,700 per sq.ft, placing Muthamil Nagar 1st Block 12th Street's 2024 figure above that median.

• Muthamil Nagar 1st Block 11th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar 1st Block 13th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar 1st Block 10th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar 1st Block 14th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar 196th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar 1st Block 15th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Muthamil Nagar 1st Block 12th Street

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the guideline value would be 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. Duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Muthamil Nagar 1st Block 12th Street?

The Muthamil Nagar 1st Block 12th Street falls under 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 determining the stamp duty and registration fees during property transactions. It serves as a benchmark for assessing the value of properties in the area, ensuring that the fees are calculated accurately based on the prescribed rates.

When buying or selling property, the guideline value helps in establishing a fair price for registration purposes. It is important to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Muthamil Nagar 1st Block 12th Street?

The current guideline value of Muthamil Nagar 1st Block 12th 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 seen 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, a change of 10%. Overall, from 2012 to 2024, the value has increased by 10% as well.

What is the land classification of Muthamil Nagar 1st Block 12th Street?

The land classification of Muthamil Nagar 1st Block 12th Street is Residential Special Type - I, indicating its suitability for residential purposes.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles registrations for properties in the area.

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

Stamp duty is charged at 7%, while the registration fee is 2% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft property at Rs 3,300 per sq.ft would incur a total fee of Rs 2,97,000.