Guideline Value for Muthamil Nagar IVth Block 98th Street

Muthamil Nagar IVth Block 98th Street guideline value

The current guideline value for Muthamil Nagar IVth Block 98th 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 98th Street has changed

Over the years, the guideline value for Muthamil Nagar IVth Block 98th Street has seen several revisions. The most recent revision in 2024 set the guideline value at Rs 3,300 per sq.ft, which is an increase of 10% from the 2023 revision of Rs 3,000 per sq.ft. The register has no figures for the years 2017, 2012, 2007, 2003, and 2002 for this street.

Prior to the 2023 revision, the guideline values for this street were not available in the register. The 2024 figure of Rs 3,300 per sq.ft is significantly above the median guideline value of Rs 2,700 per sq.ft for the 1,318 streets in Kodungaiyur under the Madhavaram SRO.

Guideline values in Kodungaiyur

In Kodungaiyur, the guideline values range from Rs 1,900 to Rs 4,000 per sq.ft as per the 2024 revision. Muthamil Nagar IVth Block 98th Street's guideline value is above the median, indicating a competitive rate within the village.

• Muthamil Nagar IVth Block 97th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar IVth Block 99th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar IVth Block 96th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar North Avenue: Rs 3,800 per sq.ft (2024)
• Muthamil Nagar IVth Block 95th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar South Avenue: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Muthamil Nagar IVth Block 98th 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 cost to Rs 2,97,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Muthamil Nagar IVth Block 98th Street?

The Muthamil Nagar IVth Block 98th Street falls under 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 of property transactions in Kodungaiyur. It serves as a benchmark for determining the stamp duty and registration fees payable during the sale or purchase of property.

When you buy or sell property, the stamp duty is calculated based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value for Muthamil Nagar IVth Block 98th Street?

The current guideline value for Muthamil Nagar IVth Block 98th 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, marking a 10% increase. There are no figures available for the years 2017, 2012, 2007, 2003, and 2002 for this street.

What is the land classification for Muthamil Nagar IVth Block 98th Street?

The land classification for Muthamil Nagar IVth Block 98th Street is Residential Special Type - I.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2% of the guideline value. For a 1,000 sq.ft plot, the total cost would be Rs 2,97,000.

Which Sub Registrar Office covers this area?

The Madhavaram Sub Registrar Office covers Muthamil Nagar IVth Block 98th Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.