Guideline Value for Muthamil Nagar IIIrd Block 64th Street

Muthamil Nagar IIIrd Block 64th Street guideline value

The current guideline value of Muthamil Nagar IIIrd Block 64th Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village under the Madhavaram SRO, classified as Residential Special Type - I.

How the guideline value of Muthamil Nagar IIIrd Block 64th Street has changed

In the 2012 revision, the guideline value was Rs 3,000 per sq.ft. This figure changed to Rs 2,010 per sq.ft in the 2017 revision, marking a decrease of 33%. However, from 2017 to 2023, the value increased significantly to Rs 3,000 per sq.ft, which is a rise of 49%. The most recent revision in 2024 set the guideline value at Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year.

The register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, there has been a 10% increase in the guideline value.

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 value for these streets is Rs 2,700 per sq.ft, placing Muthamil Nagar IIIrd Block 64th Street above this median.

• Muthamil Nagar IIIrd Block 63rd Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar IIIrd Block 65th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar IIIrd Block 62nd Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar IIIrd Block 66th 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 67th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Muthamil Nagar IIIrd Block 64th 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 fees to Rs 2,97,000. Stamp duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Muthamil Nagar IIIrd Block 64th Street?

The Sub Registrar Office that covers Muthamil Nagar IIIrd Block 64th Street is 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. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When you buy or sell property, the guideline value is compared to the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, making it essential for both buyers and sellers to be aware of the current guideline value.

Frequently asked questions

What is the current guideline value of Muthamil Nagar IIIrd Block 64th Street?

The current guideline value of Muthamil Nagar IIIrd Block 64th 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 seen various changes, from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, and then increasing to Rs 3,000 per sq.ft in 2023, before reaching Rs 3,300 per sq.ft in 2024.

What is the land classification for Muthamil Nagar IIIrd Block 64th Street?

Muthamil Nagar IIIrd Block 64th Street is classified as Residential Special Type - I under the Madhavaram SRO.

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

The stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For example, for a property valued at Rs 33,00,000, the total fees would be Rs 2,97,000.

Which office handles registrations for Muthamil Nagar IIIrd Block 64th Street?

The Madhavaram Sub Registrar Office handles registrations for Muthamil Nagar IIIrd Block 64th Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.