Guideline Value for Muthamil Nagar IIIrd Block 71st Street

Muthamil Nagar IIIrd Block 71st Street guideline value

The current guideline value of Muthamil Nagar IIIrd Block 71st Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village and falls under the Madhavaram SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Muthamil Nagar IIIrd Block 71st Street has changed

In the 2012 revision, the guideline value was set at Rs 3,000 per sq.ft. This figure remained unchanged through the 2023 revision, which also recorded Rs 3,000 per sq.ft. However, in the 2024 revision, the guideline value increased to Rs 3,300 per sq.ft, marking a 10% rise from the previous year. Overall, from 2012 to 2024, the guideline value has increased by 10%.

It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2017 for this street. Therefore, the only revisions affecting the guideline value of Muthamil Nagar IIIrd Block 71st Street are from 2012, 2023, and 2024.

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 the 2024 revision. The median guideline value in this village is Rs 2,700 per sq.ft, placing Muthamil Nagar IIIrd Block 71st Street's 2024 figure above that median.

• Muthamil Nagar IIIrd Block 70th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar IIIrd Block 72nd 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 73rd 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 74th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Muthamil Nagar IIIrd Block 71st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty, calculated at 7%, would be Rs 2,31,000, while the registration fee at 2% would be Rs 66,000. Together, the total cost for these fees would be Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating your fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Muthamil Nagar IIIrd Block 71st Street?

The Muthamil Nagar IIIrd Block 71st Street falls under the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. For further details, you can find your SRO.

How the guideline value is used when you buy or sell in Kodungaiyur

The guideline value serves as a benchmark for property transactions in Kodungaiyur. When a property is sold, the guideline value is used to determine the applicable stamp duty and registration fees during the registration process.

Buyers and sellers should be aware that the guideline value is crucial for ensuring compliance with legal requirements and for calculating the financial obligations associated with property transactions.

Frequently asked questions

What is the current guideline value of Muthamil Nagar IIIrd Block 71st Street?

The current guideline value of Muthamil Nagar IIIrd Block 71st 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 increased from Rs 3,000 per sq.ft in 2012 to Rs 3,300 per sq.ft in 2024, reflecting a 10% rise. There were no changes recorded for the years 2003, 2007, and 2017.

What is the land classification for this street?

The land classification for Muthamil Nagar IIIrd Block 71st Street is Residential Special Type - I. This classification is important for understanding the zoning regulations applicable to this area.

Where can I find the registration office for this area?

The registration office covering Muthamil Nagar IIIrd Block 71st 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 at 7% of 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.