Guideline Value for Muthamil Nagar IVth Block 107th Street

Muthamil Nagar IVth Block 107th Street guideline value

The current guideline value of Muthamil Nagar IVth Block 107th 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 IVth Block 107th Street has changed

The guideline value for Muthamil Nagar IVth Block 107th Street has undergone several revisions over the years. The earliest recorded figure is from 2012, which was Rs 3,000 per sq.ft. In 2017, the value decreased to Rs 2,010 per sq.ft. However, from 2017 to 2023, the value increased significantly to Rs 3,000 per sq.ft, marking a 49% increase. The most recent revision in 2024 set the guideline value at Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year.

There are no recorded figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Kodungaiyur

Kodungaiyur has a total of 1,318 streets under the Madhavaram SRO, with guideline values 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, placing Muthamil Nagar IVth Block 107th Street's 2024 figure above the median.

• Muthamil Nagar IVth Block 106th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar IVth Block 81st Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar IVth Block 105th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar IVth Block 82nd Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar IVth Block 104th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar IVth Block 83rd Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Muthamil Nagar IVth Block 107th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total 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, bringing the total cost for these fees to Rs 2,97,000. Duty is charged on the higher of the guideline value and the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Muthamil Nagar IVth Block 107th Street?

The Muthamil Nagar IVth Block 107th 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 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 applicable to the transaction.

When a property is sold, the buyer is required to pay stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Muthamil Nagar IVth Block 107th Street?

The current guideline value for Muthamil Nagar IVth Block 107th 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, marking a 10% increase. It increased from Rs 2,010 per sq.ft in 2017 to Rs 3,000 per sq.ft in 2023, a 49% increase.

What is the land classification for Muthamil Nagar IVth Block 107th Street?

The land classification for Muthamil Nagar IVth Block 107th Street is Residential Special Type - I.

Where can I find the Madhavaram Sub Registrar Office?

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 higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 at a rate of 7%.