Guideline Value for Muthamil Nagar 79th Street

Muthamil Nagar 79th Street guideline value

The current guideline value of Muthamil Nagar 79th 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 79th Street has changed

Over the years, the guideline value for Muthamil Nagar 79th Street has seen several revisions. The 2012 revision set the value at Rs 3,000 per sq.ft, which 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.

There are no figures available for the revisions in 2002, 2003, 2007, and 2017 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10% from Rs 3,000 to Rs 3,300 per sq.ft.

Guideline values in Kodungaiyur

In Kodungaiyur, there are 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 for these streets is Rs 2,700 per sq.ft, placing Muthamil Nagar 79th Street above this median.

• Muthamil Nagar 78th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar 7th Main Road: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar 77th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar 80th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar 76th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar 8th Main Road: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Muthamil Nagar 79th 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 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.

You can use the stamp duty and registration fee calculator for more information on fees applicable to your property transaction.

Which Sub Registrar Office covers Muthamil Nagar 79th Street?

The Muthamil Nagar 79th Street falls under the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. To locate your specific SRO, you can find your SRO.

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

The guideline value is a crucial factor in property transactions, as it determines the minimum value at which a property can be registered. When buying or selling property in Kodungaiyur, the guideline value is used to calculate stamp duty and registration fees, ensuring that the transaction is compliant with local regulations.

It is essential for buyers and sellers to be aware of the guideline value, as it influences the overall costs involved in property registration. Understanding these values can help in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Muthamil Nagar 79th Street?

The current guideline value of Muthamil Nagar 79th 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 3,300 per sq.ft in 2024, reflecting a 10% increase overall. The value remained unchanged at Rs 3,000 per sq.ft in 2023.

What is the land classification for Muthamil Nagar 79th Street?

The land classification for Muthamil Nagar 79th Street is Residential Special Type - I, indicating its suitability for residential development.

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 the registration of properties in Muthamil Nagar 79th Street.

How is the stamp duty calculated for properties in Muthamil Nagar 79th Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 2,31,000.