Guideline Value for Muthamil Nagar IIIrd Block 59th Street

Muthamil Nagar IIIrd Block 59th Street guideline value

The current guideline value of Muthamil Nagar IIIrd Block 59th 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 59th Street has changed

The guideline value for Muthamil Nagar IIIrd Block 59th Street has undergone several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which was a decrease to Rs 2,010 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 3,000 per sq.ft, and the most recent 2024 revision has raised it further to Rs 3,300 per sq.ft. The register has no figures for the years 2002, 2003, and 2007 for this street.

From the 2012 revision to the 2017 revision, there was a decrease of 33%. However, from 2017 to 2023, there was a significant increase of 49%. The overall change from 2012 to 2024 shows an increase of 10% in the guideline value per sq.ft.

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. The median guideline value in this area is Rs 2,700 per sq.ft, making the 2024 figure for Muthamil Nagar IIIrd Block 59th Street above that median.

• Muthamil Nagar IIIrd Block 58th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar IIIrd Block 60th 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 61st 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 62nd Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Muthamil Nagar IIIrd Block 59th Street

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the 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, totaling Rs 2,97,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Muthamil Nagar IIIrd Block 59th Street?

The Muthamil Nagar IIIrd Block 59th 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 an important factor when registering property in Kodungaiyur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during a property transaction.

When a property is sold, the guideline value or the sale price, whichever is higher, is taken into account for calculating these fees. This ensures that the registration process is transparent and standardized across the region.

Frequently asked questions

What is the current guideline value of Muthamil Nagar IIIrd Block 59th Street?

The current guideline value of Muthamil Nagar IIIrd Block 59th 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. It was Rs 2,010 per sq.ft in 2017 and Rs 3,000 per sq.ft in 2012.

What are the other streets in Kodungaiyur with similar guideline values?

Other streets in Kodungaiyur, such as Muthamil Nagar IIIrd Block 58th Street, 60th Street, 57th Street, 61st Street, 56th Street, and 62nd Street, all have a guideline value of Rs 3,300 per sq.ft for 2024.

What is the registration fee and stamp duty for properties in this area?

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher. For example, for a plot valued at Rs 33,00,000, the total fees would be Rs 2,97,000.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find more information by visiting the relevant link.