Guideline Value for Muthamil Nagar IInd Block 46th Street

Muthamil Nagar IInd Block 46th Street guideline value

The current guideline value for Muthamil Nagar IInd Block 46th 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 46th Street has changed

In the 2012 revision, the guideline value was Rs 3,000 per sq.ft. This figure decreased to Rs 2,010 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to the 2024 revision, the guideline value increased significantly to Rs 3,300 per sq.ft, representing a rise of 64%. Overall, from 2012 to 2024, the guideline value has increased by 10%.

The register does not contain figures for the years 2002, 2003, 2007, and 2023 for this street.

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. The median guideline value for these streets is Rs 2,700 per sq.ft, placing Muthamil Nagar IInd Block 46th Street's 2024 figure above this median.

• Muthamil Nagar IInd Block 45th 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 44th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar IInd Block 48th 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 49th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Muthamil Nagar IInd Block 46th Street

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the 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 to Rs 2,97,000. It is important to note that 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 46th Street?

The Muthamil Nagar IInd Block 46th Street falls under the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for further assistance.

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

The guideline value plays a crucial role during the registration process when buying or selling property in Kodungaiyur. It serves as a reference point for calculating the stamp duty and registration fees that are required to be paid at the time of registration.

When a property is sold, the buyer needs to ensure that the sale price is at least equal to the guideline value, as the higher of the two will be used to calculate the applicable duties and fees. This ensures that the transaction is compliant with local regulations.

Frequently asked questions

What is the current guideline value for Muthamil Nagar IInd Block 46th Street?

The current guideline value for Muthamil Nagar IInd Block 46th Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2012, the guideline value has seen fluctuations, starting at Rs 3,000 per sq.ft, decreasing to Rs 2,010 per sq.ft in 2017, and then increasing to Rs 3,300 per sq.ft in 2024.

What is the land classification for Muthamil Nagar IInd Block 46th Street?

The land classification for Muthamil Nagar IInd Block 46th Street is Residential Special Type - I.

Where can I find the registration office for Muthamil Nagar IInd Block 46th Street?

The registration office for Muthamil Nagar IInd Block 46th 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 Kodungaiyur?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if the guideline value is Rs 33,00,000, the stamp duty at 7% would amount to Rs 2,31,000.