Guideline Value for Muthamil Nagar VIIIth Block 199th Street

Muthamil Nagar VIIIth Block 199th Street guideline value

The current guideline value for Muthamil Nagar VIIIth Block 199th 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 199th Street has changed

The guideline value for Muthamil Nagar VIIIth Block 199th Street has undergone several revisions over the years. The oldest recorded revision is from 2012, where the guideline value was Rs 3,000 per sq.ft. This was followed by a decrease in 2017 to Rs 2,010 per sq.ft, marking a decline of 33%. However, in the most recent revision in 2024, the guideline value increased significantly to Rs 3,300 per sq.ft, reflecting a rise of 64% from the 2017 figure.

Overall, from 2012 to 2024, the guideline value has seen a modest increase of 10%. The register does not contain figures for the years 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 in 2024. The median guideline value for these streets is Rs 2,700 per sq.ft, placing Muthamil Nagar VIIIth Block 199th Street above this median.

• Muthamil Nagar VIIIth Block 198th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar VIIIth Block 200th 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 201st 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 202nd Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Muthamil Nagar VIIIth Block 199th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, while the registration fee at 2% would be Rs 66,000, bringing the total 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.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Muthamil Nagar VIIIth Block 199th Street?

The Muthamil Nagar VIIIth Block 199th Street falls under 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 plays a crucial role when buying or selling property in Kodungaiyur. It serves as a benchmark for determining the minimum value at which property transactions can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the registration process is fair and transparent.

Frequently asked questions

What is the current guideline value of Muthamil Nagar VIIIth Block 199th Street?

The current guideline value of Muthamil Nagar VIIIth Block 199th 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. The overall change from 2012 to 2024 is an increase of 10%.

What is the land classification of Muthamil Nagar VIIIth Block 199th Street?

Muthamil Nagar VIIIth Block 199th Street is classified as Residential Special Type - I under the current guideline value register.

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 stamp duty calculated for property in Muthamil Nagar VIIIth Block 199th Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a plot valued at Rs 33,00,000, the stamp duty at 7% would be Rs 2,31,000.