Guideline Value for Muthamil Nagar VIIth Block 181st Street

Muthamil Nagar VIIth Block 181st Street guideline value

The current guideline value for Muthamil Nagar VIIth Block 181st 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 181st Street has changed

The guideline value for Muthamil Nagar VIIth Block 181st Street has undergone several revisions over the years. The oldest revision available is from 2012, where the guideline value was Rs 3,000 per sq.ft. This was followed by a decrease to Rs 2,010 per sq.ft in the 2017 revision, marking a decline of 33%. However, the most recent revision in 2024 shows a significant increase to Rs 3,300 per sq.ft, representing a rise of 64% from the 2017 figure.

Overall, comparing the 2012 and 2024 revisions, there has been a slight increase of 10% in the guideline value. 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

Kodungaiyur has a total of 1318 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 for these streets is Rs 2,700 per sq.ft, placing Muthamil Nagar VIIth Block 181st Street above this median.

• Muthamil Nagar VIIth Block 180th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar VIIth Block 182nd Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar VIIth Block 179th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar VIIth Block 183rd 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 184th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Muthamil Nagar VIIth Block 181st 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 guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Muthamil Nagar VIIth Block 181st Street?

The Muthamil Nagar VIIth Block 181st 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 a crucial factor in the registration process for property transactions in Kodungaiyur. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, it is essential to be aware of the guideline value, as it can influence the overall costs involved in the transaction. Buyers should ensure that the sale price is in line with the guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Muthamil Nagar VIIth Block 181st Street?

The current guideline value of Muthamil Nagar VIIth Block 181st 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.

What is the land classification for this street?

The land classification for Muthamil Nagar VIIth Block 181st Street is Residential Special Type - I.

Where can I find the Madhavaram Sub Registrar Office?

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

How is the stamp duty calculated for property in this area?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 33,00,000 would incur a stamp duty of Rs 2,31,000.