Guideline Value for Muthamil Nagar IIIrd Block 57th Street

Muthamil Nagar IIIrd Block 57th Street guideline value

The current guideline value of Muthamil Nagar IIIrd Block 57th 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 57th Street has changed

The guideline value for Muthamil Nagar IIIrd Block 57th Street has undergone several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which was then reduced to Rs 2,010 per sq.ft in the 2017 revision. Following this, the value increased significantly 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.

From 2017 to 2023, there was a notable increase of 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

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 57th Street's value above the median.

• Muthamil Nagar IIIrd Block 56th 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 55th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar IIIrd Block 59th 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 60th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Muthamil Nagar IIIrd Block 57th 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 cost for these fees to Rs 2,97,000. Duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Muthamil Nagar IIIrd Block 57th Street?

The Muthamil Nagar IIIrd Block 57th Street falls under 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 property registration in Kodungaiyur. It serves as a benchmark for determining the stamp duty and registration fees applicable to a property transaction.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, which is essential for legal and tax purposes. It is important for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Muthamil Nagar IIIrd Block 57th Street?

The current guideline value of Muthamil Nagar IIIrd Block 57th 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 2023 to Rs 3,300 per sq.ft in 2024, reflecting a 10% increase. It was Rs 2,010 per sq.ft in 2017 and Rs 3,000 per sq.ft in 2012.

What is the land classification for Muthamil Nagar IIIrd Block 57th Street?

The land classification for Muthamil Nagar IIIrd Block 57th 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. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles registrations for Muthamil Nagar IIIrd Block 57th Street?

The Madhavaram Sub Registrar Office handles registrations for Muthamil Nagar IIIrd Block 57th Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.