Guideline Value for Muthamil Nagar IVth Block 85th Street

Muthamil Nagar IVth Block 85th Street guideline value

The current guideline value for Muthamil Nagar IVth Block 85th 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 IVth Block 85th Street has changed

In the 2012 revision, the guideline value was Rs 3,000 per sq.ft. This figure remained the same until the 2017 revision, where it decreased to Rs 2,010 per sq.ft, marking a decline of 33%. Following this, the value saw a significant increase to Rs 3,000 per sq.ft in the 2023 revision, and then it rose again to Rs 3,300 per sq.ft in the 2024 revision, reflecting a 10% increase.

From 2017 to 2023, there was a substantial increase of 49% in the guideline value. Overall, comparing the 2012 figure to the current 2024 figure, there has been a 10% increase. 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 the village is Rs 2,700 per sq.ft, placing Muthamil Nagar IVth Block 85th Street above this median.

• Muthamil Nagar IVth Block 84th 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 83rd Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar IVth Block 87th 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 88th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Muthamil Nagar IVth Block 85th 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 to Rs 2,97,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Muthamil Nagar IVth Block 85th Street?

The Muthamil Nagar IVth Block 85th 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 a crucial factor in the registration process when buying or selling property in Kodungaiyur. It serves as a reference point for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. 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 85th Street?

The current guideline value for Muthamil Nagar IVth Block 85th 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 increased 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 Muthamil Nagar IVth Block 85th Street?

The land classification for Muthamil Nagar IVth Block 85th Street is Residential Special Type - I.

Where can I find the Sub Registrar Office for Muthamil Nagar IVth Block 85th Street?

The Sub Registrar Office for Muthamil Nagar IVth Block 85th 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 based on the higher of the guideline value or the sale price. For example, a property valued at Rs 33,00,000 would incur a stamp duty of Rs 2,31,000 at 7%.