Guideline Value for Muthamil Nagar 1st Block 18th Street

Muthamil Nagar 1st Block 18th Street guideline value

The current guideline value of Muthamil Nagar 1st Block 18th Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village under the Madhavaram SRO, classified as Residential Special Type - I.

How the guideline value of Muthamil Nagar 1st Block 18th Street has changed

The guideline value has seen several revisions over the years. In 2012, the value was Rs 3,000 per sq.ft, which decreased to Rs 2,010 per sq.ft in 2017. However, the value increased significantly to Rs 3,000 per sq.ft in 2023, and further rose to Rs 3,300 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Between the 2017 and 2023 revisions, there was a substantial increase of 49%. The overall change from the 2012 revision to the 2024 revision shows a slight increase of 10%. 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 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 18th Street's current guideline value is above this median.

• Muthamil Nagar 1st Block 17th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar 1st Block 19th 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 1st Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar 1st Block 15th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar 1st Block 20th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Muthamil Nagar 1st Block 18th 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 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 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 1st Block 18th Street?

The Muthamil Nagar 1st Block 18th Street is covered by 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 essential when registering a property in Kodungaiyur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value helps ensure that the transaction is recorded accurately and fairly, reflecting the official valuation set by the registration department.

Frequently asked questions

What is the current guideline value for Muthamil Nagar 1st Block 18th Street?

The current guideline value for Muthamil Nagar 1st Block 18th 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, and then increased to Rs 3,000 per sq.ft in 2023, finally rising to Rs 3,300 per sq.ft in 2024.

What is the land classification for Muthamil Nagar 1st Block 18th Street?

The land classification for Muthamil Nagar 1st Block 18th Street is Residential Special Type - I.

What are the stamp duty rates for property in this area?

The stamp duty rate for property transactions in this area is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can visit for any registration-related queries.