Guideline Value for Muthamil Nagar VIIIth Block 202nd Street

Muthamil Nagar VIIIth Block 202nd Street guideline value

The current guideline value for Muthamil Nagar VIIIth Block 202nd 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 202nd Street has changed

The guideline value for Muthamil Nagar VIIIth Block 202nd Street has seen several revisions over the years. 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. However, the value significantly increased to Rs 3,000 per sq.ft in the 2023 revision and further rose to Rs 3,300 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, there was a substantial increase of 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The register does not have figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Kodungaiyur

Kodungaiyur village 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 the 2024 figure for Muthamil Nagar VIIIth Block 202nd Street above this median.

• Muthamil Nagar VIIIth Block 201st Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar VIIIth Block 203rd 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 204th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar VIIIth Block 199th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar VIIIth Block 205th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Muthamil Nagar VIIIth Block 202nd 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 to Rs 2,97,000. The duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Muthamil Nagar VIIIth Block 202nd Street?

The Muthamil Nagar VIIIth Block 202nd 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 is a crucial factor in the registration process when buying or selling property in Kodungaiyur. It is used to determine the stamp duty and registration fees payable at the time of property registration.

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 transaction is recorded accurately in accordance with the regulations set forth by the Registration Department.

Frequently asked questions

What is the current guideline value for Muthamil Nagar VIIIth Block 202nd Street?

The current guideline value for Muthamil Nagar VIIIth Block 202nd 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 2023 to Rs 3,300 per sq.ft in 2024, marking a 10% increase. It was Rs 2,010 per sq.ft in 2017, showing a 49% increase to 2023.

What is the land classification for this street?

Muthamil Nagar VIIIth Block 202nd Street is classified as Residential Special Type - I. This classification indicates the intended use of the land within this area.

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 Muthamil Nagar VIIIth Block 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.