Guideline Value for Muthamil Nagar 1st Block 25th Street

Muthamil Nagar 1st Block 25th Street guideline value

The current guideline value for Muthamil Nagar 1st Block 25th 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 it falls under the Residential Special Type - I land classification.

How the guideline value of Muthamil Nagar 1st Block 25th Street has changed

The guideline value for Muthamil Nagar 1st Block 25th Street has undergone several revisions over the years. The earliest recorded revision is from 2012, which set the value at Rs 3,000 per sq.ft. This value was then revised to Rs 2,010 per sq.ft in 2017, a decrease of 33%. Following this, the value increased significantly to Rs 3,000 per sq.ft in 2023, and again to Rs 3,300 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value saw a substantial rise of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 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 for 2024 ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median guideline value in the village is Rs 2,700 per sq.ft, making the current value for Muthamil Nagar 1st Block 25th Street above this median.

• Muthamil Nagar 1st Block 24th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar 1st Block 26th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar 1st Block 23rd Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar 1st Block 27th 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 2nd Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Muthamil Nagar 1st Block 25th 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. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Muthamil Nagar 1st Block 25th Street?

The Muthamil Nagar 1st Block 25th 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 a crucial factor in the registration process when buying or selling property in Kodungaiyur. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that the transaction is recorded accurately in accordance with government regulations.

When a property is sold, the guideline value helps determine the minimum price at which the property can be registered. Buyers and sellers must be aware of the current guideline value to ensure they meet legal requirements during the transaction.

Frequently asked questions

What is the current guideline value for Muthamil Nagar 1st Block 25th Street?

The current guideline value for Muthamil Nagar 1st Block 25th 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 25th Street?

The land classification for Muthamil Nagar 1st Block 25th Street is Residential Special Type - I.

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

The Sub Registrar Office covering Muthamil Nagar 1st Block 25th Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 33,00,000, the stamp duty at 7% would be Rs 2,31,000.