Guideline Value for Muthamil Nagar IVth Block 87th Street

Muthamil Nagar IVth Block 87th Street guideline value

The current guideline value for Muthamil Nagar IVth Block 87th 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 87th Street has changed

The guideline value for Muthamil Nagar IVth Block 87th Street has seen several revisions over the years. In 2012, the value was Rs 3,000 per sq.ft, which decreased to Rs 2,010 per sq.ft in 2017. Following this, the value increased significantly to Rs 3,000 per sq.ft in 2023, and then rose again to Rs 3,300 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. It is important to note that there are no figures available 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 as per the 2024 revision. The median guideline value in this area is Rs 2,700 per sq.ft, placing Muthamil Nagar IVth Block 87th Street's 2024 value above the median.

• Muthamil Nagar IVth Block 86th 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 85th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar IVth Block 89th 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 90th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Muthamil Nagar IVth Block 87th 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 be 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.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Muthamil Nagar IVth Block 87th Street?

The Muthamil Nagar IVth Block 87th Street falls under the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration process of property transactions in Kodungaiyur. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these costs are based on the official valuation of the property.

When buying or selling property, it is essential to refer to the guideline value, as it helps in understanding the financial implications of the transaction. This value is used to ensure compliance with legal requirements during registration at the Madhavaram SRO.

Frequently asked questions

What is the current guideline value of Muthamil Nagar IVth Block 87th Street?

The current guideline value for Muthamil Nagar IVth Block 87th 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 87th Street?

The land classification for Muthamil Nagar IVth Block 87th Street is Residential Special Type - I.

What is the stamp duty for property in Muthamil Nagar IVth Block 87th Street?

The stamp duty for property in Muthamil Nagar IVth Block 87th Street is 7% of the guideline value or sale price, whichever is higher.

Which office handles registrations for Muthamil Nagar IVth Block 87th Street?

The Madhavaram Sub Registrar Office handles registrations for Muthamil Nagar IVth Block 87th Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.