Guideline Value for Muthamil Nagar VIIIth Block 203rd Street

Muthamil Nagar VIIIth Block 203rd Street guideline value

The current guideline value for Muthamil Nagar VIIIth Block 203rd Street is Rs 3,300 per sq.ft. This street is located in Kodungaiyur village, under the Madhavaram SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Muthamil Nagar VIIIth Block 203rd Street has changed

In the 2012 revision, the guideline value was Rs 3,000 per sq.ft. This figure decreased to Rs 2,010 per sq.ft in the 2017 revision, marking a decline of 33%. However, the value saw a significant increase in the following years, rising to Rs 3,000 per sq.ft in 2023, and then to Rs 3,300 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, there has been an increase of 10%. It is important to note that the register has no figure for this street in the years 2002, 2003, and 2007.

Guideline values in Kodungaiyur

In Kodungaiyur, there are 1,318 streets under the Madhavaram SRO with a 2024 guideline value ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median value in this area is Rs 2,700 per sq.ft, placing Muthamil Nagar VIIIth Block 203rd Street's 2024 value above the median.

• Muthamil Nagar VIIIth Block 202nd 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 201st Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar VIIIth Block 205th 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 206th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Muthamil Nagar VIIIth Block 203rd 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 be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. 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 precise calculations based on your property details.

Which Sub Registrar Office covers Muthamil Nagar VIIIth Block 203rd Street?

The Muthamil Nagar VIIIth Block 203rd 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 in property transactions, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with registration norms and to calculate the applicable stamp duty and registration fees accurately.

When a property is sold, the guideline value serves as a reference point for taxation purposes. It ensures that the government receives appropriate revenue from property transactions, reflecting the value of real estate in the area.

Frequently asked questions

What is the current guideline value for Muthamil Nagar VIIIth Block 203rd Street?

The current guideline value for Muthamil Nagar VIIIth Block 203rd 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, then back to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What is the land classification for this area?

The land classification for Muthamil Nagar VIIIth Block 203rd Street is Residential Special Type - I.

Where is the Madhavaram Sub Registrar Office located?

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

How is stamp duty calculated for properties in this area?

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