Guideline Value for Muthamil Nagar IIIrd Block 55th Street

Muthamil Nagar IIIrd Block 55th Street guideline value

The current guideline value of Muthamil Nagar IIIrd Block 55th 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 IIIrd Block 55th Street has changed

In the 2012 revision, the guideline value was Rs 3,000 per sq.ft. This figure decreased to Rs 2,010 per sq.ft in the 2017 revision, marking a decline of 33%. However, the value increased significantly in the 2023 revision to Rs 3,000 per sq.ft, followed by a further increase to Rs 3,300 per sq.ft in the 2024 revision, which is a rise of 10% from the previous year. The overall change from 2012 to 2024 shows an increase of 10%.

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 a 2024 guideline value 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, placing Muthamil Nagar IIIrd Block 55th Street's 2024 figure above that median.

• Muthamil Nagar IIIrd Block 54th 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 53rd Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar IIIrd Block 57th 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 58th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Muthamil Nagar IIIrd Block 55th 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 at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling 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 55th Street?

The Muthamil Nagar IIIrd Block 55th Street falls under the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for further assistance.

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

The guideline value plays a crucial role during the registration process of property transactions in Kodungaiyur. It is used to determine the stamp duty and registration fees that must be paid, ensuring that the transaction is recorded accurately in the official records.

When buying or selling property, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable fees. This process helps in maintaining transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Muthamil Nagar IIIrd Block 55th Street?

The current guideline value of Muthamil Nagar IIIrd Block 55th 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 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 of Muthamil Nagar IIIrd Block 55th Street?

The land classification of Muthamil Nagar IIIrd Block 55th Street 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 stamp duty calculated for properties in Kodungaiyur?

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%.