Guideline Value for Muthamil Nagar IInd Block 45th Street

Muthamil Nagar IInd Block 45th Street guideline value

The current guideline value of Muthamil Nagar IInd Block 45th 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 45th Street has changed

The guideline value for Muthamil Nagar IInd Block 45th Street has undergone several revisions over the years. In the 2012 revision, the guideline value was Rs 3,000 per sq.ft. This was followed by a decrease to Rs 2,010 per sq.ft in the 2017 revision. However, the most recent 2024 revision shows a significant increase, bringing the value back up to Rs 3,300 per sq.ft.

Between the 2017 and 2024 revisions, there was a notable increase of 64%. From 2012 to 2017, the value decreased by 33%. Overall, comparing the 2012 revision to the 2024 revision, there has been a slight increase of 10%. The register has no figures for the years 2002, 2003, 2007, and 2023 for this street.

Guideline values in Kodungaiyur

Kodungaiyur has a total of 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 for these streets is Rs 2,700 per sq.ft, making the guideline value of Muthamil Nagar IInd Block 45th Street above the median.

• Muthamil Nagar IInd Block 44th 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 43rd Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar IInd Block 47th 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 48th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Muthamil Nagar IInd Block 45th 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. Together, the total cost for stamp duty and registration would be Rs 2,97,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Muthamil Nagar IInd Block 45th Street?

The Muthamil Nagar IInd Block 45th 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 an essential factor during 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 appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the value of the property being exchanged. It is important for buyers to be aware of this value to ensure they are making informed decisions during the transaction process.

Frequently asked questions

What is the current guideline value of Muthamil Nagar IInd Block 45th Street?

The current guideline value of Muthamil Nagar IInd Block 45th 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 changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, and then increased to Rs 3,300 per sq.ft in 2024.

What is the land classification for Muthamil Nagar IInd Block 45th Street?

The land classification for Muthamil Nagar IInd Block 45th Street is Residential Special Type - I.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office covering Muthamil Nagar IInd Block 45th Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is also applicable.