Guideline Value for Muthamil Nagar IInd Block 34th Street

Muthamil Nagar IInd Block 34th Street guideline value

The current guideline value for Muthamil Nagar IInd Block 34th 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 IInd Block 34th Street has changed

The guideline value for Muthamil Nagar IInd Block 34th Street has seen several revisions over the years. In the 2012 revision, the value was Rs 3,000 per sq.ft, which remained unchanged in the 2023 revision. However, in the latest 2024 revision, the guideline value increased to Rs 3,300 per sq.ft, marking a 10% rise from the previous year.

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

Guideline values in Kodungaiyur

In Kodungaiyur, there are 1,318 streets under the Madhavaram SRO with a 2024 guideline value ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median guideline value for these streets is Rs 2,700 per sq.ft, placing Muthamil Nagar IInd Block 34th Street above this median.

• Muthamil Nagar IInd Block 33rd Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar IInd Block 35th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar IInd Block 32nd Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar IInd Block 36th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar IInd Block 31st Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar IInd Block 37th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Muthamil Nagar IInd Block 34th 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, and the registration fee at 2% would be Rs 66,000, bringing the total fees 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 also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Muthamil Nagar IInd Block 34th Street?

The Sub Registrar Office that covers Muthamil Nagar IInd Block 34th Street is 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 plays a crucial role in the registration process when buying or selling property in Kodungaiyur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is considered to ensure that the transaction is in compliance with the regulations set by the Registration Department. This helps in maintaining transparency and standardization in property transactions.

Frequently asked questions

What is the current guideline value for Muthamil Nagar IInd Block 34th Street?

The current guideline value for Muthamil Nagar IInd Block 34th 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, marking a 10% rise. The value remained unchanged from 2012 to 2023.

What is the land classification for this area?

The land classification for Muthamil Nagar IInd Block 34th Street is Residential Special Type - I.

Where is the Madhavaram Sub Registrar Office located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is 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, a property with a guideline value of Rs 33,00,000 would incur a stamp duty of Rs 2,31,000 at 7%.