Guideline Value for Muthamil Nagar VIIth Block 176th Street

Muthamil Nagar VIIth Block 176th Street guideline value

The current guideline value of Muthamil Nagar VIIth Block 176th 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 the land classification is Residential Special Type - I.

How the guideline value of Muthamil Nagar VIIth Block 176th Street has changed

The guideline value for Muthamil Nagar VIIth Block 176th Street has seen several revisions over the years. The oldest recorded revision is from 2012, which set the value at Rs 3,000 per sq.ft. This was followed by a decrease to Rs 2,010 per sq.ft in the 2017 revision. The most recent revision in 2024 has increased the guideline value to Rs 3,300 per sq.ft.

From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2024, the value increased by 64%. Overall, comparing the figures from 2012 to 2024, there has been a 10% increase in the guideline value for this street. The register has no figures for the years 2023, 2007, 2003, and 2002 for this street.

Guideline values in Kodungaiyur

In Kodungaiyur, there are 1,318 streets under the Madhavaram SRO with a 2024 guideline value ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median value for these streets is Rs 2,700 per sq.ft. Muthamil Nagar VIIth Block 176th Street's 2024 guideline value is above this median.

• Muthamil Nagar VIIth Block 175th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar VIIth Block 177th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar VIIth Block 174th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar VIIth Block 178th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar VIIth Block 173rd Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar VIIth Block 179th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Muthamil Nagar VIIth Block 176th 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. 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 precise calculations.

Which Sub Registrar Office covers Muthamil Nagar VIIth Block 176th Street?

The Muthamil Nagar VIIth Block 176th Street is covered by 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 reference for property transactions in Kodungaiyur, as it determines the minimum value at which properties must be registered. Buyers and sellers must consider this value when negotiating the sale price to ensure compliance with local regulations.

When registering a property, 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 VIIth Block 176th Street?

The current guideline value of Muthamil Nagar VIIth Block 176th 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 increased to Rs 3,300 per sq.ft in 2024. This represents a 10% overall increase from 2012 to 2024.

What is the land classification for this street?

The land classification for Muthamil Nagar VIIth Block 176th Street is Residential Special Type - I.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 33,00,000, the total fees would be Rs 2,97,000.

Which office handles registrations for Muthamil Nagar VIIth Block 176th Street?

The Madhavaram Sub Registrar Office handles registrations for Muthamil Nagar VIIth Block 176th Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.