Guideline Value for Muthamil Nagar IIIrd Block 74th Street

Muthamil Nagar IIIrd Block 74th Street guideline value

The current guideline value of Muthamil Nagar IIIrd Block 74th 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 is classified as Residential Special Type - I.

How the guideline value of Muthamil Nagar IIIrd Block 74th Street has changed

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

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

Guideline values in Kodungaiyur

In Kodungaiyur, there are 1,318 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,900 to Rs 4,000 per sq.ft, with a median value of Rs 2,700 per sq.ft. Muthamil Nagar IIIrd Block 74th Street's guideline value of Rs 3,300 per sq.ft is above this median.

• Muthamil Nagar IIIrd Block 73rd 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 72nd Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar IInd Block 31st Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar IIIrd Block 71st Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar IInd Block 32nd Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Muthamil Nagar IIIrd Block 74th 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 at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to 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.

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

Which Sub Registrar Office covers Muthamil Nagar IIIrd Block 74th Street?

The Muthamil Nagar IIIrd Block 74th Street falls under 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 is an important factor when registering a property in Kodungaiyur. It serves as a benchmark for determining the stamp duty and registration fees payable during the transaction.

When a property is sold or purchased, the guideline value is considered alongside the sale price, with the higher value being used to calculate the applicable duties and fees. This ensures that the registration process is aligned with the established property values in the area.

Frequently asked questions

What is the current guideline value of Muthamil Nagar IIIrd Block 74th Street?

The current guideline value of Muthamil Nagar IIIrd Block 74th 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 2023 to Rs 3,300 per sq.ft in 2024, a 10% increase. It was Rs 2,010 per sq.ft in 2017, showing a 49% increase from that year to 2023.

What is the land classification for Muthamil Nagar IIIrd Block 74th Street?

The land classification for Muthamil Nagar IIIrd Block 74th Street is Residential Special Type - I, indicating its designated use for residential purposes.

What are the stamp duty and registration fees for properties 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. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office handles the registration for this street?

The Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060, handles the registration for Muthamil Nagar IIIrd Block 74th Street.