Guideline Value for Muthamil Nagar VIIIth Block 208th Street

Muthamil Nagar VIIIth Block 208th Street guideline value

The current guideline value for Muthamil Nagar VIIIth Block 208th 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 208th 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 decrease of 33%. However, from 2017 to 2024, the guideline value saw a significant increase of 64%, bringing it up to Rs 3,300 per sq.ft.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2023 for this street.

Guideline values in Kodungaiyur

In Kodungaiyur, there are 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. The median guideline value in this area is Rs 2,700 per sq.ft, making the 2024 value of Muthamil Nagar VIIIth Block 208th Street above this median.

• Muthamil Nagar VIIIth Block 207th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar VIIIth Block 209th 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 210th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar VIIIth Block 205th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar VIIth Block 171st Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Muthamil Nagar VIIIth Block 208th 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, while the registration fee at 2% would be Rs 66,000, bringing the total cost to Rs 2,97,000. Duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Muthamil Nagar VIIIth Block 208th Street?

The Muthamil Nagar VIIIth Block 208th Street falls under the Madhavaram Sub Registrar Office located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in property transactions in Kodungaiyur, as it determines the minimum value at which properties can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is bought or sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Muthamil Nagar VIIIth Block 208th Street?

The current guideline value of Muthamil Nagar VIIIth Block 208th Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2012 revision, the guideline value has changed from Rs 3,000 to Rs 2,010 in 2017, and then increased to Rs 3,300 in 2024. Overall, from 2012 to 2024, there has been a 10% increase.

What is the land classification of Muthamil Nagar VIIIth Block 208th Street?

Muthamil Nagar VIIIth Block 208th Street is classified as Residential Special Type - I, which indicates its suitability for residential development.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000. These fees are based on the guideline value or the sale price, whichever is higher.

Where is the Madhavaram Sub Registrar Office located?

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 208th Street area.