Guideline Value for Muthamil Nagar 1st Block 15th Street

Muthamil Nagar 1st Block 15th Street guideline value

The current guideline value of Muthamil Nagar 1st Block 15th Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village and falls under the Madhavaram SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Muthamil Nagar 1st Block 15th Street has changed

Over the years, the guideline value for Muthamil Nagar 1st Block 15th Street has seen several revisions. 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. Following this, the value increased significantly to Rs 3,000 per sq.ft in 2023, and then to Rs 3,300 per sq.ft in the 2024 revision, marking a 10% increase from the previous year. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, the value decreased by 33%, but from 2017 to 2023, it increased by 49%. Overall, from 2012 to 2024, there has been a 10% increase in the guideline value. The current value of Rs 3,300 per sq.ft is reflective of the latest revision.

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 of 2024. The median guideline value in this area is Rs 2,700 per sq.ft, placing Muthamil Nagar 1st Block 15th Street above this median.

• Muthamil Nagar 1st Block 14th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar 1st Block 16th 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 17th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar 1st Block 12th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar 1st Block 18th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Muthamil Nagar 1st Block 15th 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. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more details, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Muthamil Nagar 1st Block 15th Street?

The Muthamil Nagar 1st Block 15th 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 an essential factor in the registration process for 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 the appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that the duty is calculated on the higher of the guideline value or the sale price, which can affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Muthamil Nagar 1st Block 15th Street?

The current guideline value of Muthamil Nagar 1st Block 15th 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 1st Block 15th Street?

The land classification for Muthamil Nagar 1st Block 15th Street is Residential Special Type - I.

What are the stamp duty and registration fees for property 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 Sub Registrar Office covers this street?

The Madhavaram Sub Registrar Office covers Muthamil Nagar 1st Block 15th Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.