Guideline Value for Muthamil Nagar Approach Road 5th Main Road

Muthamil Nagar Approach Road 5th Main Road guideline value

The current guideline value for Muthamil Nagar Approach Road 5th 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 Approach Road 5th Main Road has changed

The guideline value for Muthamil Nagar Approach Road 5th Main Road has undergone several revisions over the years. The earliest recorded revision was in 2012, where the value was Rs 3,000 per sq.ft. This was followed by a decrease to Rs 2,010 per sq.ft in 2017. However, the most recent revision in 2024 saw a significant increase to Rs 3,300 per sq.ft, marking a 64% rise from the 2017 figure. The register has no figures for the revisions in 2023, 2007, 2003, and 2002.

From 2012 to 2017, the guideline value decreased by 33%. Overall, from 2012 to 2024, there has been a slight increase of 10% in the guideline value. The current rate of Rs 3,300 per sq.ft is indicative of the street's standing in comparison to previous years.

Guideline values in Kodungaiyur

In Kodungaiyur, there are 1,318 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,900 to Rs 4,000 per sq.ft, with a median value of Rs 2,700 per sq.ft. The guideline value for Muthamil Nagar Approach Road 5th Main Road is above this median.

• Muthamil Nagar East Avenue: Rs 3,800 per sq.ft (2024)
• Muthamil Nagar 9th Main Road: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar 8th Main Road: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar IIIrd Block 51st Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar 80th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar IIIrd Block 52nd Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Muthamil Nagar Approach Road 5th 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 cost for these fees 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 information.

Which Sub Registrar Office covers Muthamil Nagar Approach Road 5th Main Road?

The Muthamil Nagar Approach Road 5th Main Road is covered by 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 is a crucial factor when registering property transactions in Kodungaiyur. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value serves as a reference point for calculating the stamp duty. Buyers should be aware that the duty is charged on the higher of the guideline value and the sale price, which can affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value for Muthamil Nagar Approach Road 5th Main Road?

The current guideline value for Muthamil Nagar Approach Road 5th 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 changes from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, and finally to Rs 3,300 per sq.ft in 2024. There are no figures available for the revisions in 2023, 2007, 2003, and 2002.

What is the land classification for Muthamil Nagar Approach Road 5th Main Road?

The land classification for Muthamil Nagar Approach Road 5th Main Road is Residential Special Type - I.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is 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 guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total guideline value is Rs 33,00,000, which would incur a stamp duty of Rs 2,31,000.