Guideline Value for Muthamil Nagar VIIIth Block 192nd Street

Muthamil Nagar VIIIth Block 192nd Street guideline value

The current guideline value for Muthamil Nagar VIIIth Block 192nd Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village under the Madhavaram SRO, with a land classification of Residential Special Type - I.

How the guideline value of Muthamil Nagar VIIIth Block 192nd Street has changed

The guideline value for Muthamil Nagar VIIIth Block 192nd Street has seen several revisions over the years. The earliest recorded figure is from the 2017 revision, which set the value at Rs 2,010 per sq.ft. This was followed by a significant increase to Rs 3,000 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 raised the guideline value to Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year.

There are no recorded figures for the years 2002, 2003, 2007, and 2012 for this street. Overall, from 2017 to 2024, the guideline value has increased by 64%.

Guideline values in Kodungaiyur

Kodungaiyur has a total of 1,318 streets under the Madhavaram SRO, with 2024 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 VIIIth Block 192nd Street above the median at Rs 3,300 per sq.ft.

• Muthamil Nagar VIIIth Block 191st Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar VIIIth Block 193rd Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar (Tamil Nadu Housing Board Residential): Rs 3,300 per sq.ft (2024)
• Muthamil Nagar VIIIth Block 194th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar South Avenue: Rs 3,800 per sq.ft (2024)
• Muthamil Nagar VIIIth Block 195th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Muthamil Nagar VIIIth Block 192nd 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, resulting in a total of Rs 2,97,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Muthamil Nagar VIIIth Block 192nd Street?

The Muthamil Nagar VIIIth Block 192nd Street falls under the Madhavaram Sub Registrar Office. The office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value plays a crucial role during property transactions in Kodungaiyur. It is used to determine the stamp duty and registration fees that buyers must pay when registering a property. This value is essential for ensuring that the transaction is legally compliant and properly recorded.

When selling a property, the guideline value helps establish a baseline for negotiations. Buyers and sellers often refer to this value to assess the fairness of the price being discussed, ensuring transparency in the transaction process.

Frequently asked questions

What is the current guideline value of Muthamil Nagar VIIIth Block 192nd Street?

The current guideline value of Muthamil Nagar VIIIth Block 192nd 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 increased from Rs 2,010 per sq.ft in 2017 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 64% over this period.

What is the stamp duty rate for properties in this area?

The stamp duty rate for properties in Muthamil Nagar VIIIth Block 192nd Street is 7% of the guideline value or sale price, whichever is higher.

Where is the Madhavaram Sub Registrar Office located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How can I calculate the registration fees for my property?

You can calculate the registration fees for your property using the stamp duty and registration fee calculator available online.