Guideline Value for Muthamil Nagar VIIIth Block 204th Street

Muthamil Nagar VIIIth Block 204th Street guideline value

The current guideline value of Muthamil Nagar VIIIth Block 204th 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 204th Street has changed

In the 2012 revision, the guideline value was Rs 3,000 per sq.ft. This figure then decreased to Rs 2,010 per sq.ft in the 2017 revision, marking a decline of 33%. Following this, the value saw a significant increase to Rs 3,000 per sq.ft in 2023, which represents a rise of 49% from the 2017 figure. The latest revision in 2024 has set the guideline value at Rs 3,300 per sq.ft, a 10% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Kodungaiyur

Kodungaiyur village has a total of 1,318 streets under the Madhavaram SRO, with guideline values in 2024 ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median guideline value for these streets is Rs 2,700 per sq.ft, placing Muthamil Nagar VIIIth Block 204th Street above this median.

• Muthamil Nagar VIIIth Block 203rd 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 202nd Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar VIIIth Block 206th 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 207th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Muthamil Nagar VIIIth Block 204th 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, totaling Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Muthamil Nagar VIIIth Block 204th Street?

The Muthamil Nagar VIIIth Block 204th Street falls under the jurisdiction of the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. To find your specific SRO, visit find your SRO.

How the guideline value is used when you buy or sell in Kodungaiyur

The guideline value is a critical factor during property registration in Kodungaiyur. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the transaction is documented at a fair value.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are essential components of the registration process. This ensures compliance with local regulations and provides a clear framework for property transactions.

Frequently asked questions

What is the current guideline value of Muthamil Nagar VIIIth Block 204th Street?

The current guideline value of Muthamil Nagar VIIIth Block 204th 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 seen several changes, from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, followed by an increase to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What is the registration fee for property in Muthamil Nagar VIIIth Block 204th Street?

The registration fee is calculated at 2% of the guideline value. For a property valued at Rs 33,00,000, the registration fee would be Rs 66,000.

Which office handles registrations for Muthamil Nagar VIIIth Block 204th Street?

The Madhavaram Sub Registrar Office handles registrations for Muthamil Nagar VIIIth Block 204th Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is the stamp duty calculated for properties in Kodungaiyur?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. This ensures that the registration reflects the true value of the property being transacted.