Guideline Value for Muthamil Nagar IIIrd Block 54th Street

Muthamil Nagar IIIrd Block 54th Street guideline value

The current guideline value for Muthamil Nagar IIIrd Block 54th 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 it falls under the Residential Special Type - I land classification.

How the guideline value of Muthamil Nagar IIIrd Block 54th Street has changed

The guideline value for Muthamil Nagar IIIrd Block 54th Street has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 3,000 per sq.ft. This figure decreased significantly to Rs 2,010 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value increased by 49%, bringing it back to Rs 3,000 per sq.ft. The most recent revision in 2024 saw an increase to Rs 3,300 per sq.ft, which is a rise of 10% from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has seen a marginal increase of 10%.

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 as of 2024. The median guideline value in this area is Rs 2,700 per sq.ft, placing Muthamil Nagar IIIrd Block 54th Street above the median value.

• Muthamil Nagar IIIrd Block 53rd 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 52nd Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar IIIrd Block 56th 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 57th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Muthamil Nagar IIIrd Block 54th 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 charges to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Muthamil Nagar IIIrd Block 54th Street?

The Muthamil Nagar IIIrd Block 54th Street falls under the jurisdiction of the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. For more information, you can find your SRO.

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

The guideline value plays a crucial role in the registration process of property transactions in Kodungaiyur. When a property is bought or sold, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that the transaction is recorded at a fair value as per government regulations.

It is essential for buyers and sellers to be aware of the guideline value to avoid any discrepancies during the registration process. The values are updated periodically, and being informed can help in understanding the financial implications of property transactions.

Frequently asked questions

What is the current guideline value for Muthamil Nagar IIIrd Block 54th Street?

The current guideline value for Muthamil Nagar IIIrd Block 54th 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 back 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 Muthamil Nagar IIIrd Block 54th Street?

The land classification for Muthamil Nagar IIIrd Block 54th Street is Residential Special Type - I.

Where can I find information about stamp duty and registration fees?

Information about stamp duty and registration fees can be calculated using the stamp duty and registration fee calculator.

Which office handles property registrations for this area?

The Madhavaram Sub Registrar Office handles property registrations for Muthamil Nagar IIIrd Block 54th Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.