Guideline Value for Muthamil Nagar VIIIth Block 193rd Street

Muthamil Nagar VIIIth Block 193rd Street guideline value

The current guideline value of Muthamil Nagar VIIIth Block 193rd 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 VIIIth Block 193rd Street has changed

The guideline value for Muthamil Nagar VIIIth Block 193rd Street has undergone several revisions over the years. The 2017 revision set the value at Rs 2,010 per sq.ft. In 2023, this figure increased to Rs 3,000 per sq.ft, marking a 49% rise. The most recent revision in 2024 has further increased the guideline value to Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year.

Overall, the guideline value has increased by 64% from the 2017 revision to the 2024 revision. It is important to note that the register does not provide figures for the years 2002, 2003, 2007, and 2012 for this street.

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 per the 2024 revision. The median guideline value in this area is Rs 2,700 per sq.ft, indicating that Muthamil Nagar VIIIth Block 193rd Street's 2024 figure is above this median.

• Muthamil Nagar VIIIth Block 192nd Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar VIIIth Block 194th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar VIIIth Block 191st Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar VIIIth Block 195th 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 196th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Muthamil Nagar VIIIth Block 193rd 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, while the registration fee at 2% would be Rs 66,000. Together, the total cost for these fees would be Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Muthamil Nagar VIIIth Block 193rd Street?

The Muthamil Nagar VIIIth Block 193rd Street is covered by the Madhavaram Sub Registrar Office, 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 is a crucial factor during the registration of property transactions in Kodungaiyur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that all property transactions are conducted transparently and fairly.

When buying or selling property, the guideline value helps both parties understand the minimum value at which the property should be registered. This value is essential for calculating the applicable taxes and fees, making it an integral part of the property transaction process.

Frequently asked questions

What is the current guideline value of Muthamil Nagar VIIIth Block 193rd Street?

The current guideline value of Muthamil Nagar VIIIth Block 193rd Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How much 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, which is a total increase of 64% over this period.

What is the land classification of Muthamil Nagar VIIIth Block 193rd Street?

Muthamil Nagar VIIIth Block 193rd 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 the 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 7%.