Guideline Value for Muthamil Nagar VIIth Block 182nd Street

Muthamil Nagar VIIth Block 182nd Street guideline value

The current guideline value for Muthamil Nagar VIIth Block 182nd Street is Rs 3,300 per sq.ft as per the 2024 revision, effective from 1 July 2024. This street is located in Kodungaiyur village, which 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 182nd Street has changed

Over the years, the guideline value for Muthamil Nagar VIIth Block 182nd Street has seen several revisions. The 2012 revision recorded a guideline value of Rs 3,000 per sq.ft, which decreased to Rs 2,010 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly by 49%, bringing it back to Rs 3,000 per sq.ft. The most recent revision in 2024 has further increased the guideline value to Rs 3,300 per sq.ft, reflecting a 10% rise from the previous year.

The register has no figures for the years 2002, 2003, and 2007 for this street. This means that the most recent revisions effectively show a change from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024, indicating a steady increase in the guideline value over the years.

Guideline values in Kodungaiyur

Kodungaiyur village has a total of 1,318 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,900 to Rs 4,000 per sq.ft in the 2024 revision. The median guideline value for these streets is Rs 2,700 per sq.ft, placing Muthamil Nagar VIIth Block 182nd Street above this median.

• Muthamil Nagar VIIth Block 181st 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 180th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar VIIth Block 184th 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 185th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Muthamil Nagar VIIth Block 182nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost to Rs 2,97,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Muthamil Nagar VIIth Block 182nd Street?

The Sub Registrar Office that covers Muthamil Nagar VIIth Block 182nd Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value plays a crucial role in property transactions in Kodungaiyur. It is used to determine the stamp duty and registration fees that need to be paid during the sale or purchase of property. The guideline value is set by the registration department and is updated periodically based on various factors.

When buying or selling property, it is essential to refer to the guideline value to ensure compliance with the legal requirements for registration. This value serves as a benchmark for assessing the financial obligations associated with property transactions in the area.

Frequently asked questions

What is the current guideline value for Muthamil Nagar VIIth Block 182nd Street?

The current guideline value for Muthamil Nagar VIIth Block 182nd 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, and it has seen a significant increase from Rs 2,010 per sq.ft in 2017 to Rs 3,000 per sq.ft in 2023.

Which Sub Registrar Office covers this area?

The Madhavaram Sub Registrar Office covers Muthamil Nagar VIIth Block 182nd Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What is the stamp duty for property in this area?

The stamp duty for property in Muthamil Nagar VIIth Block 182nd Street is 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000.

Where can I find more information about stamp duty and registration fees?

You can find more information and calculate the fees using the stamp duty and registration fee calculator.