Guideline Value for Muthamil Nagar IIIrd Block 68th Street

Muthamil Nagar IIIrd Block 68th Street guideline value

The current guideline value of Muthamil Nagar IIIrd Block 68th 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 land classification of Residential Special Type - I.

How the guideline value of Muthamil Nagar IIIrd Block 68th Street has changed

The guideline value for Muthamil Nagar IIIrd Block 68th Street has seen several revisions over the years. The 2012 revision was set 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 raised it further to Rs 3,300 per sq.ft, marking a 10% increase from the previous year.

From the 2017 revision to the 2023 revision, there was a significant increase of 49%. Overall, from the 2012 to 2024 revisions, 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, indicating that Muthamil Nagar IIIrd Block 68th Street's 2024 figure is above this median.

• Muthamil Nagar IIIrd Block 67th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar IIIrd Block 69th 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 70th 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 71st Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Muthamil Nagar IIIrd Block 68th 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, bringing the total fees together to Rs 2,97,000. Please note that the 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 further calculations.

Which Sub Registrar Office covers Muthamil Nagar IIIrd Block 68th Street?

The Muthamil Nagar IIIrd Block 68th 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 the registration process when buying or selling property. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value will be considered to ensure that the appropriate taxes are collected. Buyers and sellers should be aware of this value to understand the financial implications of their transactions.

Frequently asked questions

What is the current guideline value of Muthamil Nagar IIIrd Block 68th Street?

The current guideline value of Muthamil Nagar IIIrd Block 68th 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 increased 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 Muthamil Nagar IIIrd Block 68th Street?

The land classification for Muthamil Nagar IIIrd Block 68th Street is Residential Special Type - I.

What are the stamp duty and registration fees for a property 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 the registration for Muthamil Nagar IIIrd Block 68th Street?

The Madhavaram Sub Registrar Office handles the registration for Muthamil Nagar IIIrd Block 68th Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.