Guideline Value for Muthamil Nagar IInd Block 37th Street

Muthamil Nagar IInd Block 37th Street guideline value

The current guideline value of Muthamil Nagar IInd Block 37th 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 IInd Block 37th Street has changed

The guideline value for Muthamil Nagar IInd Block 37th Street has seen several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which then decreased to Rs 2,010 per sq.ft in the 2017 revision. Following this, the value increased to Rs 3,000 per sq.ft in 2023, and the most recent revision in 2024 has set it at Rs 3,300 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the guideline value increased by 49%. The increase from 2023 to 2024 is 10%. Overall, from 2012 to 2024, the guideline value has risen by 10%.

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 value across these streets is Rs 2,700 per sq.ft, placing Muthamil Nagar IInd Block 37th Street's 2024 figure above this median.

• Muthamil Nagar IInd Block 36th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar IInd Block 38th 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 39th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar IInd Block 34th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar IInd Block 40th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Muthamil Nagar IInd Block 37th Street

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the 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, totaling 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 our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Muthamil Nagar IInd Block 37th Street?

The Muthamil Nagar IInd Block 37th Street is covered by 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 property transactions, as it determines the minimum value at which a property can be registered. When buying or selling property in Kodungaiyur, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these costs are based on the official valuation set by the government.

It is essential for buyers and sellers to be aware of the guideline value to avoid any discrepancies during the registration process. This value helps in maintaining transparency and fairness in property transactions within the region.

Frequently asked questions

What is the current guideline value of Muthamil Nagar IInd Block 37th Street?

The current guideline value of Muthamil Nagar IInd Block 37th 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 IInd Block 37th Street?

The land classification for Muthamil Nagar IInd Block 37th Street is Residential Special Type - I.

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 is Rs 2,31,000, and the registration fee is Rs 66,000, totaling Rs 2,97,000.

Which office handles the registration for Muthamil Nagar IInd Block 37th Street?

The Madhavaram Sub Registrar Office handles the registration for Muthamil Nagar IInd Block 37th Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.