Guideline Value for Muthamil Nagar 80th Street

Muthamil Nagar 80th Street guideline value

The current guideline value of Muthamil Nagar 80th 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 80th Street has changed

The guideline value for Muthamil Nagar 80th Street has seen several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which was then reduced to Rs 2,010 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 3,000 per sq.ft in 2023, and further rose to Rs 3,300 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, there has been a 10% increase. The register has no figures for the years 2002, 2003, and 2007 for this street.

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 is Rs 2,700 per sq.ft, making the 2024 figure for Muthamil Nagar 80th Street above this median.

• Muthamil Nagar 7th Main Road: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar 8th Main Road: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar 79th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar 9th Main Road: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar 78th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar 77th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Muthamil Nagar 80th 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, charged at 7%, would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total fees to Rs 2,97,000. It is important to note that 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 80th Street?

The Muthamil Nagar 80th Street falls under the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value serves as a benchmark for property transactions in Kodungaiyur. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these fees are based on a standardized valuation.

During the registration process, the guideline value helps in determining the official value of the property, which is essential for legal documentation and taxation purposes. It ensures transparency and consistency in property transactions.

Frequently asked questions

What is the current guideline value of Muthamil Nagar 80th Street?

The current guideline value of Muthamil Nagar 80th 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 seen several revisions, with the most recent being Rs 3,300 per sq.ft in 2024. It was Rs 3,000 per sq.ft in 2023 and Rs 2,010 per sq.ft in 2017.

What is the land classification for Muthamil Nagar 80th Street?

Muthamil Nagar 80th Street is classified as 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 all registrations for properties in the area.

How is stamp duty calculated for properties in Muthamil Nagar?

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 would be Rs 2,31,000 at a rate of 7%.