Guideline Value for Muthamil Nagar 6th Main Road

Muthamil Nagar 6th Main Road guideline value

The current guideline value of Muthamil Nagar 6th Main Road is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village under the Madhavaram SRO, classified as Residential Special Type - I.

How the guideline value of Muthamil Nagar 6th Main Road has changed

In the 2012 revision, the guideline value was Rs 3,000 per sq.ft. This figure remained unchanged in the 2023 revision. However, in the 2024 revision, the guideline value increased to Rs 3,300 per sq.ft, marking a 10% increase from the previous year. The revisions for the years 2002, 2003, 2007, and 2017 do not have any figures recorded for this street.

Overall, from 2012 to 2024, the guideline value has increased by 10%. This change reflects the current valuation dynamics in the area.

Guideline values in Kodungaiyur

In Kodungaiyur, there are 1,318 streets under the Madhavaram SRO with a 2024 guideline value 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, positioning Muthamil Nagar 6th Main Road above this median.

• Muthamil Nagar 5th Main Road: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar 76th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar 4th Main Road: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar 77th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar 3rd Main Road: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar 78th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Muthamil Nagar 6th Main Road

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

Which Sub Registrar Office covers Muthamil Nagar 6th Main Road?

The Muthamil Nagar 6th Main Road falls under 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 critical component in property transactions in Kodungaiyur, as it determines the minimum price at which a property can be registered. Buyers and sellers must consider this value when negotiating the sale price to ensure compliance with local regulations.

At the time of registration, the guideline value is used to calculate the stamp duty and registration fees. This ensures that the government receives the appropriate taxes based on the property's assessed value.

Frequently asked questions

What is the current guideline value of Muthamil Nagar 6th Main Road?

The current guideline value of Muthamil Nagar 6th Main Road 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 increased from Rs 3,000 per sq.ft in 2012 to Rs 3,300 per sq.ft in 2024, reflecting a 10% increase overall. The value remained the same in 2023.

What is the land classification for Muthamil Nagar 6th Main Road?

Muthamil Nagar 6th Main Road is classified as Residential Special Type - I. This classification affects the guideline value and property usage in the area.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles property registrations for the area.

How is stamp duty calculated for properties in Muthamil Nagar 6th Main Road?

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