Guideline Value for Muthamil Nagar IVth Block 84th Street

Muthamil Nagar IVth Block 84th Street guideline value

The current guideline value of Muthamil Nagar IVth Block 84th 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 it falls under the Residential Special Type - I land classification.

How the guideline value of Muthamil Nagar IVth Block 84th Street has changed

The guideline value for Muthamil Nagar IVth Block 84th Street has experienced several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which was a decrease of 33% from Rs 2,010 per sq.ft in the 2017 revision. The value then increased significantly to Rs 3,000 per sq.ft in 2023, followed by a rise to Rs 3,300 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

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

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 guideline value in this area is Rs 2,700 per sq.ft, placing Muthamil Nagar IVth Block 84th Street's 2024 value above that median.

• Muthamil Nagar IVth Block 83rd 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 82nd Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar IVth Block 86th 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 87th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Muthamil Nagar IVth Block 84th 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, and the registration fee at 2% would be Rs 66,000, bringing the total fees together to 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 our stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Muthamil Nagar IVth Block 84th Street?

The Muthamil Nagar IVth Block 84th 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 the registration process when buying or selling property in Kodungaiyur. It serves as a benchmark to determine the minimum value at which a property can be registered, ensuring transparency in property transactions.

When you register a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives its due revenue from property transactions.

Frequently asked questions

What is the current guideline value of Muthamil Nagar IVth Block 84th Street?

The current guideline value of Muthamil Nagar IVth Block 84th 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, which is a 10% increase. It was Rs 3,000 per sq.ft in 2012, decreased to Rs 2,010 per sq.ft in 2017, and then increased to Rs 3,000 per sq.ft in 2023.

What is the land classification of Muthamil Nagar IVth Block 84th Street?

The land classification for Muthamil Nagar IVth Block 84th Street is Residential Special Type - I. This classification indicates the type of development permissible in the area.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles registrations for properties in the area, including Muthamil Nagar IVth Block 84th Street.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 33,00,000 would incur a stamp duty of Rs 2,31,000 and a registration fee of Rs 66,000.