Guideline Value for Muthamil Nagar VIIth Block 179th Street

Muthamil Nagar VIIth Block 179th Street guideline value

The current guideline value of Muthamil Nagar VIIth Block 179th 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 179th Street has changed

The guideline value for Muthamil Nagar VIIth Block 179th Street has seen several revisions over the years. The earliest recorded revision was in 2012, with a guideline value of Rs 3,000 per sq.ft. This was followed by a decrease to Rs 2,010 per sq.ft in the 2017 revision. However, the most recent revision in 2024 has increased the value back to Rs 3,300 per sq.ft, marking a significant increase of 64% from the 2017 figure.

From 2012 to 2017, there was a decrease of 33% in the guideline value. Overall, comparing the figures from 2012 to 2024, there has been a slight increase of 10%. It is important to note that 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 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 179th Street's guideline value of Rs 3,300 per sq.ft is above this median.

• Muthamil Nagar VIIth Block 178th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar VIIth Block 180th 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 181st 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 182nd Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Muthamil Nagar VIIth Block 179th 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, making the total cost for these fees Rs 2,97,000. It is important to note that 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 VIIth Block 179th Street?

The Sub Registrar Office that covers Muthamil Nagar VIIth Block 179th Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. For more information, you can find your SRO.

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

The guideline value is a crucial factor when buying or selling property in Kodungaiyur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers should be aware of the current guideline value to ensure compliance with local regulations.

When registering a property, the guideline value will be used to calculate the applicable fees, which are based on the higher of the guideline value or the sale price. This ensures that all transactions are transparent and adhere to the established norms.

Frequently asked questions

What is the current guideline value of Muthamil Nagar VIIth Block 179th Street?

The current guideline value of Muthamil Nagar VIIth Block 179th 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 64% increase from 2017 to 2024.

What is the land classification for Muthamil Nagar VIIth Block 179th Street?

The land classification for Muthamil Nagar VIIth Block 179th Street is Residential Special Type - I.

What are the stamp duty and registration fees for this property?

For a 1,000 sq.ft plot, the total guideline value is Rs 33,00,000. The stamp duty at 7% is Rs 2,31,000, and the registration fee at 2% is Rs 66,000, totaling Rs 2,97,000.

Which office handles the registration for Muthamil Nagar VIIth Block 179th Street?

The Madhavaram Sub Registrar Office handles the registration for Muthamil Nagar VIIth Block 179th Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.