Guideline Value for Muthamil Nagar VIIIth Block 206th Street

Muthamil Nagar VIIIth Block 206th Street guideline value

The current guideline value of Muthamil Nagar VIIIth Block 206th Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village under the Madhavaram SRO, classified as Residential Special Type - I.

How the guideline value of Muthamil Nagar VIIIth Block 206th Street has changed

The guideline value for Muthamil Nagar VIIIth Block 206th Street has undergone several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which was then reduced to Rs 2,010 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 3,300 per sq.ft in the 2024 revision, marking a 64% rise from the 2017 figure.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 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 that carry a 2024 guideline value ranging from Rs 1,900 to Rs 4,000 per sq.ft, with a median value of Rs 2,700 per sq.ft. The guideline value for Muthamil Nagar VIIIth Block 206th Street is above this median.

• Muthamil Nagar VIIIth Block 205th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar VIIIth Block 207th 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 208th 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 209th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Muthamil Nagar VIIIth Block 206th 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. Please 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 detailed calculations.

Which Sub Registrar Office covers Muthamil Nagar VIIIth Block 206th Street?

The Muthamil Nagar VIIIth Block 206th 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 when registering property transactions in Kodungaiyur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property, which can influence negotiations and final sale prices. It is important to refer to the latest guideline values to ensure compliance with registration requirements.

Frequently asked questions

What is the current guideline value for Muthamil Nagar VIIIth Block 206th Street?

The current guideline value for Muthamil Nagar VIIIth Block 206th 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 to Rs 3,300 per sq.ft in 2024. This represents a 64% increase from the 2017 figure.

What is the land classification for this street?

Muthamil Nagar VIIIth Block 206th Street is classified as Residential Special Type - I, indicating its suitability for residential development.

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 stamp duty calculated for properties in this area?

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