Guideline Value for Muthamil Nagar IVth Block 99th Street

Muthamil Nagar IVth Block 99th Street guideline value

The current guideline value for Muthamil Nagar IVth Block 99th 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 is classified as Residential Special Type - I.

How the guideline value of Muthamil Nagar IVth Block 99th Street has changed

According to the guideline value register, there are no figures available for Muthamil Nagar IVth Block 99th Street for the years 2002, 2003, 2007, 2012, and 2017. The 2023 revision set the guideline value at Rs 3,000 per sq.ft, which was an increase from the previous revisions. The most recent revision in 2024 has raised the guideline value to Rs 3,300 per sq.ft, marking a 10% increase from the 2023 figure.

This means that the guideline value has seen a rise from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024. The current figure reflects the ongoing adjustments made by the Registration Department to align property values with market conditions.

Guideline values in Kodungaiyur

In Kodungaiyur, there are 1,318 streets under the Madhavaram SRO with a 2024 guideline value range from Rs 1,900 to Rs 4,000 per sq.ft. The median value for these streets is Rs 2,700 per sq.ft, placing Muthamil Nagar IVth Block 99th Street's 2024 guideline value above this median.

• Muthamil Nagar IVth Block 98th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar North Avenue: Rs 3,800 per sq.ft (2024)
• Muthamil Nagar IVth Block 97th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar South Avenue: Rs 3,800 per sq.ft (2024)
• Muthamil Nagar IVth Block 96th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar (Tamil Nadu Housing Board Residential): Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Muthamil Nagar IVth Block 99th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to 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 fees to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Muthamil Nagar IVth Block 99th Street?

The Muthamil Nagar IVth Block 99th Street falls under the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. To find your specific SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in property transactions in Kodungaiyur, as it serves as a benchmark for determining the registration fees and stamp duty payable. When a property is sold, the guideline value is used to calculate the taxes due at the time of registration.

It is essential for buyers and sellers to be aware of the guideline value, as it can influence the overall cost of the transaction. The registration office uses this value to ensure that the appropriate fees are collected based on the property's assessed value.

Frequently asked questions

What is the current guideline value for Muthamil Nagar IVth Block 99th Street?

The current guideline value for Muthamil Nagar IVth Block 99th 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 for Muthamil Nagar IVth Block 99th Street has changed from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024, reflecting a 10% increase.

What is the land classification for this street?

Muthamil Nagar IVth Block 99th Street is classified as 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 stamp duty calculated for properties in this area?

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