Guideline Value for Muthamil Nagar IVth Block 91st Street

Muthamil Nagar IVth Block 91st Street guideline value

The current guideline value for Muthamil Nagar IVth Block 91st 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 91st Street has changed

Looking at the revisions, the guideline value for this street has seen significant changes over the years. The 2012 revision recorded a value of Rs 3,000 per sq.ft, which then decreased to Rs 2,010 per sq.ft in the 2017 revision. Following this, the value increased to Rs 3,000 per sq.ft in 2023, and finally rose to Rs 3,300 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. Overall, from the 2012 revision to the 2024 revision, 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 1318 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,900 to Rs 4,000 per sq.ft, with a median value of Rs 2,700 per sq.ft. The guideline value for Muthamil Nagar IVth Block 91st Street is above this median.

• Muthamil Nagar IVth Block 90th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar IVth Block 92nd 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 93rd 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 94th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Muthamil Nagar IVth Block 91st 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, totaling 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 details.

Which Sub Registrar Office covers Muthamil Nagar IVth Block 91st Street?

The Muthamil Nagar IVth Block 91st 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 when buying or selling property in Kodungaiyur, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value as it influences the stamp duty and registration fees applicable during the transaction.

When a property is sold, the guideline value is assessed to ensure that the transaction is in compliance with local regulations. This helps in maintaining transparency in property transactions and ensures that the government receives appropriate revenue from stamp duties and registration fees.

Frequently asked questions

What is the current guideline value for Muthamil Nagar IVth Block 91st Street?

The current guideline value for Muthamil Nagar IVth Block 91st 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?

The land classification for Muthamil Nagar IVth Block 91st Street is Residential Special Type - I.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 33,00,000, the total fees would be Rs 2,97,000.

Where is the Madhavaram Sub Registrar Office located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.