Guideline Value for Muthamil Nagar 1st Block 20th Street

Muthamil Nagar 1st Block 20th Street guideline value

The current guideline value of Muthamil Nagar 1st Block 20th 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 20th Street has changed

The guideline value for Muthamil Nagar 1st Block 20th Street has seen several revisions over the years. In 2012, the guideline value was Rs 3,000 per sq.ft, which decreased to Rs 2,010 per sq.ft in 2017. This was a decline of 33%. However, the value increased significantly to Rs 3,000 per sq.ft in 2023, marking a 49% rise from the 2017 figure. The most recent revision in 2024 set the guideline value at Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Kodungaiyur

Kodungaiyur village 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. The median guideline value in this area is Rs 2,700 per sq.ft, placing the 2024 figure for Muthamil Nagar 1st Block 20th Street above this median.

• Muthamil Nagar 1st Block 1st 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 19th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar 1st Block 22nd 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 23rd Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Muthamil Nagar 1st Block 20th 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, 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 use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Muthamil Nagar 1st Block 20th Street?

The Sub Registrar Office that covers Muthamil Nagar 1st Block 20th Street is 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 when buying or selling property in Kodungaiyur, as it determines the minimum value at which the property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. 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 20th Street?

The current guideline value of Muthamil Nagar 1st Block 20th 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 this street?

Muthamil Nagar 1st Block 20th Street is classified as Residential Special Type - I.

Where can I find the Madhavaram Sub Registrar Office?

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

How is stamp duty calculated for properties in this area?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.