Guideline Value for Muthamil Nagar IIIrd Block 53rd Street

Muthamil Nagar IIIrd Block 53rd Street guideline value

The current guideline value of Muthamil Nagar IIIrd Block 53rd 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 falls under the Residential Special Type - I land classification.

How the guideline value of Muthamil Nagar IIIrd Block 53rd Street has changed

Looking at the revisions, the guideline value for Muthamil Nagar IIIrd Block 53rd Street has seen several changes over the years. The 2012 revision recorded a value of Rs 3,000 per sq.ft, which decreased to Rs 2,010 per sq.ft in the 2017 revision. However, this was followed by a significant increase to Rs 3,000 per sq.ft in the 2023 revision, and then to Rs 3,300 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

In summary, from 2012 to 2024, the overall change in guideline value is an increase of 10%. The 2023 to 2024 revision saw a 10% increase, while the jump from 2017 to 2023 was a notable 49%. It is important to note that there are no recorded 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 have 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. Muthamil Nagar IIIrd Block 53rd Street's 2024 guideline value is above this median.

• Muthamil Nagar IIIrd Block 52nd Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar IIIrd Block 54th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar IIIrd Block 51st Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar IIIrd Block 55th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar IIIrd Block 56th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar East Avenue: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Muthamil Nagar IIIrd Block 53rd Street

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 amount to 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 duty is charged on the higher of the guideline value and the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Muthamil Nagar IIIrd Block 53rd Street?

The Sub Registrar Office that covers Muthamil Nagar IIIrd Block 53rd Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Kodungaiyur. It serves as the basis for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, it is essential to be aware of the current guideline value, as it can influence the overall cost of the transaction. Buyers and sellers should ensure that they are informed about these values to facilitate a smooth registration process.

Frequently asked questions

What is the current guideline value for Muthamil Nagar IIIrd Block 53rd Street?

The current guideline value for Muthamil Nagar IIIrd Block 53rd 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 2,010 per sq.ft in 2017, then increased to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What is the land classification for this street?

Muthamil Nagar IIIrd Block 53rd Street is classified as Residential Special Type - I.

Where can I find the registration office for this area?

The registration office for Muthamil Nagar IIIrd Block 53rd Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is 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 stamp duty would be Rs 2,31,000.