Guideline Value for Muthamil Nagar VIIth Block 171st Street

Muthamil Nagar VIIth Block 171st Street guideline value

The current guideline value of Muthamil Nagar VIIth Block 171st Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village and falls under the Madhavaram SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Muthamil Nagar VIIth Block 171st Street has changed

Over the years, the guideline value for Muthamil Nagar VIIth Block 171st Street has undergone several revisions. 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. Following this, the value increased significantly to Rs 3,000 per sq.ft in 2023, and then rose again to Rs 3,300 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. The overall change from the 2012 revision to the 2024 revision shows a 10% increase. The register has no figures for the years 2002, 2003, and 2007 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, with a median value of Rs 2,700 per sq.ft. Muthamil Nagar VIIth Block 171st Street's 2024 figure is above this median.

• Muthamil Nagar VIIIth Block 210th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar VIIth Block 172nd Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar VIIIth Block 209th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar VIIth Block 173rd Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar VIIIth Block 208th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar VIIth Block 174th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Muthamil Nagar VIIth Block 171st 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. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Muthamil Nagar VIIth Block 171st Street?

The Sub Registrar Office that covers Muthamil Nagar VIIth Block 171st Street is 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 plays a crucial role during property registration in Kodungaiyur. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold. Buyers should be aware that the guideline value may differ from the actual sale price.

When registering a property, the higher of the guideline value and the sale price is considered for calculating the applicable duties and fees. This ensures that the government receives the correct revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Muthamil Nagar VIIth Block 171st Street?

The current guideline value of Muthamil Nagar VIIth Block 171st 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, reflecting a 10% increase. It was Rs 2,010 per sq.ft in 2017, and Rs 3,000 per sq.ft in 2012.

What is the land classification for this area?

The land classification for Muthamil Nagar VIIth Block 171st Street is Residential Special Type - I.

What is the registration office for Muthamil Nagar VIIth Block 171st Street?

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

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. For example, for a 1,000 sq.ft plot at the current rate, the total guideline value would be Rs 33,00,000, leading to a stamp duty of Rs 2,31,000.