Guideline Value for Muthamil Nagar 8th Main Road

Muthamil Nagar 8th Main Road guideline value

The current guideline value of Muthamil Nagar 8th 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. The land classification for this area is Residential Special Type - I.

How the guideline value of Muthamil Nagar 8th Main Road has changed

The guideline value for Muthamil Nagar 8th Main Road has undergone 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 2023 revision increased the value to Rs 3,000 per sq.ft, and the most recent 2024 revision has set it at Rs 3,300 per sq.ft, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2012 revision to the 2024 revision, there has been a 10% increase in the guideline value. It is important to note that 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 that carry a guideline value for 2024, 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, making the current value for Muthamil Nagar 8th Main Road above that median.

• Muthamil Nagar 80th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar 9th Main Road: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar 7th Main Road: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar 79th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar Approach Road 5th 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 8th 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 would be 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 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 8th Main Road?

The Muthamil Nagar 8th Main Road falls under the jurisdiction of the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process of property transactions in Kodungaiyur. It is used to determine the stamp duty and registration fees that must be paid during the sale or purchase of property.

When a buyer or seller engages in a property transaction, the guideline value serves as a reference point for calculating the applicable fees. This ensures that the transaction is recorded accurately and in accordance with local regulations.

Frequently asked questions

What is the current guideline value of Muthamil Nagar 8th Main Road?

The current guideline value of Muthamil Nagar 8th 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 changed from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024, reflecting a 10% increase. The value was Rs 2,010 per sq.ft in 2017 and Rs 3,000 per sq.ft in 2012, showing significant fluctuations over the years.

What is the land classification for Muthamil Nagar 8th Main Road?

The land classification for Muthamil Nagar 8th Main Road is Residential Special Type - I, indicating its suitability for residential development.

Where can I find the registration office for Muthamil Nagar 8th Main Road?

The registration office covering Muthamil Nagar 8th Main Road is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is the stamp duty calculated for properties in this area?

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 a rate of 7%.