Guideline Value for Muthamil Nagar North Avenue

Muthamil Nagar North Avenue guideline value

The current guideline value of Muthamil Nagar North Avenue is Rs 3,800 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village, under the Madhavaram SRO, and is classified as Commercial Special Type - I.

How the guideline value of Muthamil Nagar North Avenue has changed

The guideline value for Muthamil Nagar North Avenue has seen several revisions over the years. In 2012, the value was set at Rs 3,500 per sq.ft. This figure decreased to Rs 2,345 per sq.ft in the 2017 revision. However, the latest revision in 2024 marks an increase to Rs 3,800 per sq.ft, representing a significant rise of 62% from the 2017 figure. Overall, from 2012 to 2024, there has been a modest increase of 9%.

It is important to note that there are no registered figures for the years 2002, 2003, 2007, and 2023 for this street. Thus, the only revisions available are from 2012, 2017, and 2024.

Guideline values in Kodungaiyur

In Kodungaiyur, there are 1,318 streets under the Madhavaram SRO that carry a 2024 guideline value, ranging 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 North Avenue's 2024 figure above this median.

• Muthamil Nagar IVth Block 99th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar South Avenue: Rs 3,800 per sq.ft (2024)
• Muthamil Nagar IVth Block 98th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar (Tamil Nadu Housing Board Residential): Rs 3,300 per sq.ft (2024)
• Muthamil Nagar IVth Block 97th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar VIIIth Block 191st Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Muthamil Nagar North Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 3,800 per sq.ft, the total guideline value would be Rs 38,00,000. The stamp duty at 7% would amount to Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, making the total charges Rs 3,42,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details on your specific property transactions.

Which Sub Registrar Office covers Muthamil Nagar North Avenue?

The Muthamil Nagar North Avenue falls under the jurisdiction of the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. For more information, you can 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 is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold. The guideline value is set by the registration department and is subject to periodic revisions.

When registering a property, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Muthamil Nagar North Avenue?

The current guideline value of Muthamil Nagar North Avenue is Rs 3,800 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 3,500 per sq.ft in 2012 to Rs 2,345 per sq.ft in 2017, and then increased to Rs 3,800 per sq.ft in 2024. This represents a 62% increase from 2017 to 2024.

What is the land classification of Muthamil Nagar North Avenue?

Muthamil Nagar North Avenue is classified as Commercial Special Type - I, indicating its suitability for commercial activities.

Where can I find more information about stamp duty and registration fees?

You can find more information about stamp duty and registration fees through the stamp duty and registration fee calculator available on the registration department's website.

Which office handles the registration for Muthamil Nagar North Avenue?

The registration for Muthamil Nagar North Avenue is handled by the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.