Guideline Value for Muthamil Nagar IInd Block 44th Street

Muthamil Nagar IInd Block 44th Street guideline value

The current guideline value of Muthamil Nagar IInd Block 44th 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 the land classification is Residential Special Type - I.

How the guideline value of Muthamil Nagar IInd Block 44th Street has changed

The guideline value for Muthamil Nagar IInd Block 44th Street has seen several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft. This was followed by a decrease to Rs 2,010 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 3,000 per sq.ft, reflecting a rise of 49%. The most recent revision in 2024 has further increased the value to Rs 3,300 per sq.ft, a 10% increase from the previous year.

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

Guideline values in Kodungaiyur

In Kodungaiyur, there are 1,318 streets under the Madhavaram SRO, with guideline values 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 44th Street above this median.

• Muthamil Nagar IInd Block 43rd Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar IInd Block 45th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar IInd Block 42nd Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar IInd Block 46th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar IInd Block 41st Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar IInd Block 47th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Muthamil Nagar IInd Block 44th 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, charged at 7%, would amount to 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.

You can use the stamp duty and registration fee calculator for more accurate calculations based on your property details.

Which Sub Registrar Office covers Muthamil Nagar IInd Block 44th Street?

The Muthamil Nagar IInd Block 44th Street is covered by the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. To find your SRO, you can visit find your SRO.

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

The guideline value is a critical factor during the registration of property transactions in Kodungaiyur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value may influence the sale price, as buyers and sellers often consider it when negotiating terms. It is essential to be aware of the current guideline value to ensure compliance with registration requirements.

Frequently asked questions

What is the current guideline value of Muthamil Nagar IInd Block 44th Street?

The current guideline value of Muthamil Nagar IInd Block 44th 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 and Rs 3,000 per sq.ft in 2012, showing fluctuations over the years.

What is the land classification for this street?

The land classification for Muthamil Nagar IInd Block 44th Street is Residential Special Type - I.

Where can I find the registration office for this area?

The registration office for Muthamil Nagar IInd Block 44th Street is the Madhavaram Sub Registrar Office, 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 higher of the guideline value or the sale price. For example, for a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 at 7%.