Guideline Value for Muthamil Nagar IIIrd Block 56th Street

Muthamil Nagar IIIrd Block 56th Street guideline value

The current guideline value of Muthamil Nagar IIIrd Block 56th Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village and falls under the Madhavaram SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Muthamil Nagar IIIrd Block 56th Street has changed

In the 2012 revision, the guideline value was set at Rs 3,000 per sq.ft. This figure then decreased to Rs 2,010 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 3,000 per sq.ft, a rise of 49%. The latest revision in 2024 has further increased the guideline value to Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year.

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

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 IIIrd Block 56th Street is above this median.

• Muthamil Nagar IIIrd Block 55th 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 54th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar IIIrd Block 58th 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 59th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Muthamil Nagar IIIrd Block 56th 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.

You can use our stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Muthamil Nagar IIIrd Block 56th Street?

The Muthamil Nagar IIIrd Block 56th Street is covered by 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 critical factor in the registration process when buying or selling property in Kodungaiyur. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the transaction is recorded at a fair value according to government standards.

Frequently asked questions

What is the current guideline value of Muthamil Nagar IIIrd Block 56th Street?

The current guideline value of Muthamil Nagar IIIrd Block 56th Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2012, the guideline value has changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then 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 56th Street?

The land classification for Muthamil Nagar IIIrd Block 56th Street is Residential Special Type - I.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which office handles registrations for this street?

The Madhavaram Sub Registrar Office handles registrations for Muthamil Nagar IIIrd Block 56th Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.