Guideline Value for Muthamil Nagar IVth Block 83rd Street

Muthamil Nagar IVth Block 83rd Street guideline value

The current guideline value for Muthamil Nagar IVth Block 83rd 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 83rd Street has changed

In the 2012 revision, the guideline value was Rs 3,000 per sq.ft. This figure remained until the 2017 revision, where it decreased to Rs 2,010 per sq.ft, reflecting a drop of 33%. The value then increased significantly to Rs 3,000 per sq.ft in the 2023 revision, marking a 49% increase from the 2017 figure.

The most recent revision in 2024 set the guideline value at Rs 3,300 per sq.ft, which is a 10% increase from the previous year's figure of Rs 3,000 per sq.ft. The register has no figures for the years 2002, 2003, and 2007 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 IVth Block 83rd Street's 2024 figure above that median.

• Muthamil Nagar IVth Block 82nd Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar IVth Block 84th 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 85th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar IVth Block 107th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar IVth Block 86th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Muthamil Nagar IVth Block 83rd 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. 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 further calculations.

Which Sub Registrar Office covers Muthamil Nagar IVth Block 83rd Street?

The Muthamil Nagar IVth Block 83rd 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 crucial factor in property transactions, as it is used to determine the stamp duty and registration fees that need to be paid. When a property is bought or sold, the higher of the guideline value and the sale price is considered for calculating these charges.

It is important for buyers and sellers to be aware of the guideline value to ensure compliance with legal requirements during the registration process. The guideline value reflects the government’s assessment of property values in the area, which can influence the overall cost of the transaction.

Frequently asked questions

What is the current guideline value for Muthamil Nagar IVth Block 83rd Street?

The current guideline value for Muthamil Nagar IVth Block 83rd 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 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 this street?

Muthamil Nagar IVth Block 83rd Street is classified as 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 the 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 7%.