Guideline Value for Muthamil Nagar 1st Block 23rd Street

Muthamil Nagar 1st Block 23rd Street guideline value

The current guideline value of Muthamil Nagar 1st Block 23rd 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 23rd Street has changed

Over the years, the guideline value for Muthamil Nagar 1st Block 23rd Street has seen several revisions. The 2012 revision set the value at Rs 3,000 per sq.ft, which was a decrease of 33% from Rs 2,010 per sq.ft in the 2017 revision. The 2023 revision increased the value to Rs 3,000 per sq.ft, and the most recent 2024 revision raised it further to Rs 3,300 per sq.ft, marking an increase of 10% from the previous year.

From 2012 to 2024, the overall change in the guideline value is an increase of 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 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 for these streets is Rs 2,700 per sq.ft, making the 2024 guideline value for Muthamil Nagar 1st Block 23rd Street above this median.

• Muthamil Nagar 1st Block 22nd Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar 1st Block 24th 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 25th 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 26th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Muthamil Nagar 1st Block 23rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to 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 cost for these fees to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Muthamil Nagar 1st Block 23rd Street?

The Muthamil Nagar 1st Block 23rd Street is covered by the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for additional details.

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

The guideline value plays a crucial role during the registration of property transactions in Kodungaiyur. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duties 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 these fees are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Muthamil Nagar 1st Block 23rd Street?

The current guideline value of Muthamil Nagar 1st Block 23rd 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 2023 to Rs 3,300 per sq.ft in 2024, representing a 10% increase. It was Rs 2,010 per sq.ft in 2017 and Rs 3,000 per sq.ft in 2012, showing fluctuations over the years.

What is the land classification for Muthamil Nagar 1st Block 23rd Street?

The land classification for Muthamil Nagar 1st Block 23rd Street is Residential Special Type - I.

How do I calculate stamp duty and registration fees for a property here?

To calculate the stamp duty and registration fees, you can use the guideline value. For example, for a 1,000 sq.ft plot at Rs 3,300 per sq.ft, the total guideline value is Rs 33,00,000, with stamp duty and registration fees totaling Rs 2,97,000.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office covering Muthamil Nagar 1st Block 23rd Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.