Guideline Value for Muthamil Nagar VIIth Block 174th Street

Muthamil Nagar VIIth Block 174th Street guideline value

The current guideline value of Muthamil Nagar VIIth Block 174th 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 VIIth Block 174th Street has changed

Over the years, the guideline value of Muthamil Nagar VIIth Block 174th Street has seen several revisions. The most recent revision in 2024 set the value at Rs 3,300 per sq.ft, an increase of 10% from the 2023 revision of Rs 3,000 per sq.ft. The 2012 revision also recorded a value of Rs 3,000 per sq.ft, indicating no change from 2012 to 2023. The register has no figures for the years 2002, 2003, 2007, and 2017.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. This indicates a steady adjustment in the valuation of properties in this area, reflecting the current rate of Rs 3,300 per sq.ft.

Guideline values in Kodungaiyur

Kodungaiyur has 1,318 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,900 to Rs 4,000 per sq.ft as per the 2024 revision. The median guideline value in this village is Rs 2,700 per sq.ft, placing Muthamil Nagar VIIth Block 174th Street above this median.

• Muthamil Nagar VIIth Block 173rd Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar VIIth Block 175th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar VIIth Block 172nd Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar VIIth Block 176th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar VIIth Block 171st Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar VIIth Block 177th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Muthamil Nagar VIIth Block 174th 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 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 further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Muthamil Nagar VIIth Block 174th Street?

The Muthamil Nagar VIIth Block 174th 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 an essential factor when registering property transactions in Kodungaiyur. It determines 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, both parties must consider the guideline value, as it plays a crucial role in the overall transaction process. Buyers should be aware of the guideline value to ensure they are making informed decisions during negotiations.

Frequently asked questions

What is the current guideline value of Muthamil Nagar VIIth Block 174th Street?

The current guideline value of Muthamil Nagar VIIth Block 174th 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, marking a 10% increase. There was no change from 2012 to 2023, with the value remaining at Rs 3,000 per sq.ft.

What is the range of guideline values in Kodungaiyur?

The guideline values in Kodungaiyur range from Rs 1,900 to Rs 4,000 per sq.ft as per the 2024 revision, with a median value of Rs 2,700 per sq.ft.

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

Stamp duty is charged at 7% and the registration fee at 2% of the guideline value or the sale price, whichever is higher. For a 1,000 sq.ft plot at the current rate, the total fees would amount to Rs 2,97,000.

Which office handles the registration for Muthamil Nagar VIIth Block 174th Street?

The Madhavaram Sub Registrar Office handles the registration for Muthamil Nagar VIIth Block 174th Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.