Guideline Value for Muthamil Nagar South Avenue

Muthamil Nagar South Avenue guideline value

The current guideline value of Muthamil Nagar South 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 South Avenue has changed

The guideline value for Muthamil Nagar South Avenue has seen several revisions over the years. The 2012 revision set the value at Rs 3,500 per sq.ft, which was then reduced to Rs 2,345 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 3,500 per sq.ft, and the current 2024 revision raised it further to Rs 3,800 per sq.ft.

Between these revisions, there have been notable changes. From 2012 to 2017, the value decreased by 33%. However, from 2017 to 2023, it increased significantly by 49%. The overall change from 2012 to 2024 shows an increase of 9%.

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. The median guideline value in this area is Rs 2,700 per sq.ft, placing Muthamil Nagar South Avenue's 2024 figure above this median.

• Muthamil Nagar North Avenue: Rs 3,800 per sq.ft (2024)
• Muthamil Nagar (Tamil Nadu Housing Board Residential): Rs 3,300 per sq.ft (2024)
• Muthamil Nagar IVth Block 99th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar VIIIth Block 191st Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar IVth Block 98th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar VIIIth Block 192nd Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Muthamil Nagar South 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, bringing the total fees together to 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 information on calculating these fees.

Which Sub Registrar Office covers Muthamil Nagar South Avenue?

The Sub Registrar Office that covers Muthamil Nagar South Avenue is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value is an essential factor during the registration of properties in Kodungaiyur. It determines the minimum value at which a property can be registered, which in turn affects the stamp duty and registration fees that need to be paid.

When buying or selling property, the guideline value ensures that the transaction is recorded at a price that reflects the official valuation set by the Registration Department. This helps maintain transparency and accountability in property transactions.

Frequently asked questions

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

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,500 per sq.ft in 2023 to Rs 3,800 per sq.ft in 2024, marking a 9% increase. It was Rs 2,345 per sq.ft in 2017 and Rs 3,500 per sq.ft in 2012, indicating fluctuations in the values over the years.

What is the land classification of Muthamil Nagar South Avenue?

Muthamil Nagar South Avenue is classified as Commercial Special Type - I, which influences its guideline value and potential uses.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions is charged at 7% of the guideline value or sale price, whichever is higher. The registration fee is charged at 2% of the same value.

Where can I find the Sub Registrar Office for Muthamil Nagar South Avenue?

The Sub Registrar Office for Muthamil Nagar South Avenue is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find more details online.