Guideline Value for Muthamil Nagar VIIIth Block 195th Street

Muthamil Nagar VIIIth Block 195th Street guideline value

The current guideline value for Muthamil Nagar VIIIth Block 195th 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 195th Street has changed

Over the years, the guideline value for Muthamil Nagar VIIIth Block 195th Street has seen several revisions. The 2012 revision set the value at Rs 3,000 per sq.ft, which then decreased to Rs 2,010 per sq.ft in the 2017 revision. This marked a significant drop of 33%. However, from 2017 to the 2024 revision, the guideline value increased by 64%, bringing it to Rs 3,300 per sq.ft.

Overall, from the 2012 revision to the 2024 revision, there has been a slight increase of 10%. It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2023 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 the village is Rs 2,700 per sq.ft, which means that Muthamil Nagar VIIIth Block 195th Street's current value is above this median.

• Muthamil Nagar VIIIth Block 194th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar VIIIth Block 196th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar VIIIth Block 193rd Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar VIIIth Block 197th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar VIIIth Block 192nd Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar VIIIth Block 198th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Muthamil Nagar VIIIth Block 195th 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, bringing the total cost for these fees to 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.

You can use our stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Muthamil Nagar VIIIth Block 195th Street?

The Muthamil Nagar VIIIth Block 195th Street 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 is a crucial factor in property transactions in Kodungaiyur, as it determines the minimum price at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for legal documentation.

It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with legal requirements during the registration process. This value serves as a benchmark for the transaction and helps in assessing the financial implications of the sale.

Frequently asked questions

What is the current guideline value of Muthamil Nagar VIIIth Block 195th Street?

The current guideline value of Muthamil Nagar VIIIth Block 195th 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 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. This represents a decrease of 33% from 2012 to 2017, followed by an increase of 64% from 2017 to 2024.

What is the land classification of Muthamil Nagar VIIIth Block 195th Street?

Muthamil Nagar VIIIth Block 195th Street is classified as Residential Special Type - I. This classification is important for understanding the zoning and usage of the land.

Where can I find the Madhavaram Sub Registrar Office?

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

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 33,00,000, the stamp duty would be calculated at 7% of this amount.