Guideline Value for Muthamil Nagar IIIrd Block 73rd Street

Muthamil Nagar IIIrd Block 73rd Street guideline value

The current guideline value of Muthamil Nagar IIIrd Block 73rd 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 73rd Street has changed

The guideline value for Muthamil Nagar IIIrd Block 73rd Street has seen several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which remained unchanged through the 2023 revision. However, in the 2024 revision, the guideline value increased to Rs 3,300 per sq.ft, reflecting a 10% rise from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2017 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

Guideline values in Kodungaiyur

Kodungaiyur has a range of guideline values, with 1318 streets under the Madhavaram SRO carrying a 2024 figure between Rs 1,900 and Rs 4,000 per sq.ft. The median guideline value for these streets is Rs 2,700 per sq.ft, placing Muthamil Nagar IIIrd Block 73rd Street above this median.

• Muthamil Nagar IIIrd Block 72nd Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar IIIrd Block 74th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar IIIrd Block 71st Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar IIIrd Block 75th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar IIIrd Block 70th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar IInd Block 31st Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Muthamil Nagar IIIrd Block 73rd 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, while the registration fee at 2% would be Rs 66,000, making a total of 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 further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Muthamil Nagar IIIrd Block 73rd Street?

The Muthamil Nagar IIIrd Block 73rd 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 during property transactions in Kodungaiyur. It serves as a benchmark for determining the minimum value of a property for registration purposes, ensuring that properties are registered at a fair value.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees, which are based on this value or the sale price, whichever is higher. This ensures transparency and compliance with local regulations during property transactions.

Frequently asked questions

What is the current guideline value of Muthamil Nagar IIIrd Block 73rd Street?

The current guideline value of Muthamil Nagar IIIrd Block 73rd 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% increase. There were no changes recorded for the years 2003, 2007, and 2017 for this street.

What is the land classification for Muthamil Nagar IIIrd Block 73rd Street?

The land classification for Muthamil Nagar IIIrd Block 73rd Street is Residential Special Type - I. This classification is important for understanding the type of development allowed in the area.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles the registration of properties in the area.

How is stamp duty calculated for properties in Muthamil Nagar IIIrd Block 73rd Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 at a rate of 7%.