Guideline Value for Muthamil Nagar IVth Block 86th Street

Muthamil Nagar IVth Block 86th Street guideline value

The current guideline value of Muthamil Nagar IVth Block 86th Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village, under the Madhavaram SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Muthamil Nagar IVth Block 86th Street has changed

The guideline value for Muthamil Nagar IVth Block 86th Street has seen several revisions over the years. In the 2012 revision, the value was set at Rs 3,000 per sq.ft. This figure decreased significantly to Rs 2,010 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value increased to Rs 3,000 per sq.ft, a rise of 49%. The most recent revision in 2024 has further increased the guideline value to Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available 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 village 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 86th Street's 2024 figure above the median.

• Muthamil Nagar IVth Block 85th 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 84th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar IVth Block 88th 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 89th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Muthamil Nagar IVth Block 86th 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 the 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 information.

Which Sub Registrar Office covers Muthamil Nagar IVth Block 86th Street?

The Sub Registrar Office that covers Muthamil Nagar IVth Block 86th Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. For more details, you can find your SRO.

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

The guideline value is an essential factor during the registration process when buying or selling property in Kodungaiyur. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that all transactions are recorded accurately.

When a buyer or seller approaches the registration office, the guideline value helps determine the official value of the property, which is used to assess the applicable fees. This ensures transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Muthamil Nagar IVth Block 86th Street?

The current guideline value of Muthamil Nagar IVth Block 86th Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

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 back 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 area?

The land classification for Muthamil Nagar IVth Block 86th 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 the stamp duty calculated for property transactions?

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