Guideline Value for Muthamil Nagar 29th Street

Muthamil Nagar 29th Street guideline value

The current guideline value of Muthamil Nagar 29th 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 29th Street has changed

Over the years, the guideline value for Muthamil Nagar 29th Street has seen several revisions. The 2012 revision set the value at Rs 3,000 per sq.ft, which then decreased to Rs 2,010 per sq.ft in the 2017 revision. Following this, the 2024 revision marked a significant increase, bringing the value back up to Rs 3,300 per sq.ft.

In terms of percentage changes, the value increased by 64% from 2017 to 2024. However, there was a decrease of 33% from 2012 to 2017. Overall, the guideline value has increased by 10% from 2012 to 2024. The register has no figures for the years 2002, 2003, 2007, and 2023 for this street.

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 in this area is Rs 2,700 per sq.ft, making the current value of Muthamil Nagar 29th Street above the median.

• Muthamil Nagar 28th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar 2nd Main Road: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar 1st Main Road: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar 30th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar 1st Block 9th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar 3rd Main Road: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Muthamil Nagar 29th 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, bringing the total cost 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 details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Muthamil Nagar 29th Street?

The Sub Registrar Office that covers Muthamil Nagar 29th Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for further assistance.

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 determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Muthamil Nagar 29th Street?

The current guideline value of Muthamil Nagar 29th 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 to Rs 3,300 per sq.ft in 2024. This represents a 64% increase from 2017 to 2024.

What is the land classification for Muthamil Nagar 29th Street?

Muthamil Nagar 29th Street is classified as Residential Special Type - I. This classification affects the guideline value and the type of properties that can be developed in the area.

Where can I find the Sub Registrar Office for Muthamil Nagar 29th Street?

The Sub Registrar Office for Muthamil Nagar 29th Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What is the median guideline value in Kodungaiyur?

The median guideline value in Kodungaiyur is Rs 2,700 per sq.ft as of 2024. Muthamil Nagar 29th Street's guideline value is above this median.