Guideline Value for Muthamil Nagar Industrial Nagar

Muthamil Nagar Industrial Nagar guideline value

The current guideline value of Muthamil Nagar Industrial Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is located in Kodungaiyur village, under the Madhavaram SRO, and is classified as Residential Special Type - I.

How the guideline value of Muthamil Nagar Industrial Nagar has changed

The guideline value for Muthamil Nagar Industrial Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which was then reduced to Rs 2,010 per sq.ft in the 2017 revision. However, the most recent 2024 revision has increased the guideline value to Rs 3,300 per sq.ft, marking a significant increase of 64% from 2017. Overall, from 2012 to 2024, the guideline value has increased by 10%.

It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2023 for this street. The 2012 to 2017 period saw a decrease of 33% in the guideline value, reflecting fluctuations in property values during that time.

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 of 2024. The median guideline value for this village is Rs 2,700 per sq.ft, placing Muthamil Nagar Industrial Nagar's value above this median.

• Muthamil Nagar IInd Block 50th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar IVth Block 100th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar IInd Block 49th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar IVth Block 101st Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar IInd Block 48th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar IVth Block 102nd Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Muthamil Nagar Industrial Nagar

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. 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 Industrial Nagar?

The Muthamil Nagar Industrial Nagar area is covered by 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. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with legal requirements during the registration process.

When registering a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that both parties are protected and that the transaction is recorded accurately in the official registry.

Frequently asked questions

What is the current guideline value of Muthamil Nagar Industrial Nagar?

The current guideline value of Muthamil Nagar Industrial Nagar 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, and then increased to Rs 3,300 per sq.ft in 2024. The overall change from 2012 to 2024 is an increase of 10%.

What is the land classification of Muthamil Nagar Industrial Nagar?

Muthamil Nagar Industrial Nagar is classified as Residential Special Type - I, indicating its suitability for residential development.

Where is the Madhavaram Sub Registrar Office located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles registrations for properties in the Muthamil Nagar Industrial Nagar area.

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value, while the registration fee is 2% of the guideline value. These fees are charged on the higher of the guideline value or the sale price of the property.