Guideline Value for Muthamil Nagar IIIrd Block 66th Street

Muthamil Nagar IIIrd Block 66th Street guideline value

The current guideline value of Muthamil Nagar IIIrd Block 66th 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 it falls under the Residential Special Type - I land classification.

How the guideline value of Muthamil Nagar IIIrd Block 66th Street has changed

The guideline value for Muthamil Nagar IIIrd Block 66th Street has seen several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which then decreased 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 set it at Rs 3,300 per sq.ft. The register has no figure for this street in 2002, 2003, and 2007.

From 2017 to 2023, there was a significant increase of 49%, while the value increased by 10% from 2023 to 2024. Overall, from 2012 to 2024, the guideline value has increased by 10% despite the decrease observed between 2012 and 2017.

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, placing Muthamil Nagar IIIrd Block 66th Street's 2024 figure above this median.

• Muthamil Nagar IIIrd Block 65th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar IIIrd Block 67th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar IIIrd Block 64th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar IIIrd Block 68th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar IIIrd Block 63rd Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar IIIrd Block 69th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Muthamil Nagar IIIrd Block 66th 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 be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, making the total cost Rs 2,97,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Muthamil Nagar IIIrd Block 66th Street?

The Muthamil Nagar IIIrd Block 66th 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 in property transactions in Kodungaiyur, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees that buyers must pay during the registration process.

When buying or selling property, it is essential to be aware of the guideline value to ensure compliance with legal requirements and to avoid any potential issues during the registration process. Buyers should always check the current guideline value to understand their financial obligations.

Frequently asked questions

What is the current guideline value of Muthamil Nagar IIIrd Block 66th Street?

The current guideline value of Muthamil Nagar IIIrd Block 66th 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 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 for this street?

Muthamil Nagar IIIrd Block 66th Street is classified as Residential Special Type - I.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office covering Muthamil Nagar IIIrd Block 66th Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is the stamp duty calculated for properties in this area?

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.