Guideline Value for Muthamil Nagar 7th Main Road

Muthamil Nagar 7th Main Road guideline value

The current guideline value of Muthamil Nagar 7th 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, and is classified as Residential Special Type - I.

How the guideline value of Muthamil Nagar 7th Main Road has changed

In the 2012 revision, the guideline value was Rs 3,000 per sq.ft. This figure then decreased to Rs 2,010 per sq.ft in the 2017 revision, marking a decline of 33%. The value rebounded to Rs 3,000 per sq.ft in the 2023 revision, followed by a further increase to Rs 3,300 per sq.ft in the 2024 revision, which is a 10% rise from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The increase from 2017 to 2023 was significant at 49%, reflecting a notable change in the guideline value during that period. The register has no figures for the years 2002, 2003, and 2007 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. The median guideline value in this village is Rs 2,700 per sq.ft, placing Muthamil Nagar 7th Main Road's 2024 value above the median.

• Muthamil Nagar 79th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar 80th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar 78th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar 8th Main Road: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar 77th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar 9th Main Road: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Muthamil Nagar 7th 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, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Muthamil Nagar 7th Main Road?

The Muthamil Nagar 7th 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 an essential factor when buying or selling property in Kodungaiyur. It determines the minimum value at which a property can be registered and is used to calculate stamp duty and registration fees during the transaction.

When you register a property, the guideline value helps ensure that the transaction reflects the current market conditions. Buyers and sellers should be aware of the guideline value to avoid discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Muthamil Nagar 7th Main Road?

The current guideline value of Muthamil Nagar 7th 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 seen various changes, with the most recent increase from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024, a 10% rise. The value also increased by 49% from Rs 2,010 per sq.ft in 2017 to Rs 3,000 per sq.ft in 2023.

What is the land classification of Muthamil Nagar 7th Main Road?

Muthamil Nagar 7th Main Road is classified as Residential Special Type - I, indicating its suitability for residential purposes.

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 the area.

How is the stamp duty calculated for properties in Muthamil Nagar 7th Main Road?

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