Guideline Value for Muthamil Nagar 1st Block 1st Street

Muthamil Nagar 1st Block 1st Street guideline value

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

The guideline value for Muthamil Nagar 1st Block 1st Street has gone through several revisions over the years. The earliest available figure is from 2012, which was Rs 3,000 per sq.ft. This was followed by a decrease to Rs 2,010 per sq.ft in 2017. The 2023 revision saw an increase to Rs 3,000 per sq.ft, and the most recent revision in 2024 set the value at Rs 3,300 per sq.ft.

From the 2017 revision to 2023, there was a significant increase of 49%. The guideline value then rose by 10% from 2023 to 2024. Overall, from the 2012 revision to the 2024 revision, 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 in 2024 ranging 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, making the current value of Muthamil Nagar 1st Block 1st Street above the median.

• Muthamil Nagar 1st Block 19th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar 1st Block 20th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar 1st Block 18th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar 1st Block 21st 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 22nd Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Muthamil Nagar 1st Block 1st 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, 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 precise calculations.

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

The Sub Registrar Office that covers Muthamil Nagar 1st Block 1st Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for additional information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Kodungaiyur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When registering a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

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

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

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

Where is the Madhavaram Sub Registrar Office located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

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

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 2,31,000.