Guideline Value for Muthamil Nagar VIIth Block 183rd Street

Muthamil Nagar VIIth Block 183rd Street guideline value

The current guideline value of Muthamil Nagar VIIth Block 183rd 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 183rd Street has changed

In the 2012 revision, the guideline value was Rs 3,000 per sq.ft. This figure decreased to Rs 2,010 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to the 2024 revision, the guideline value increased significantly to Rs 3,300 per sq.ft, representing a rise of 64%. Overall, from 2012 to 2024, the guideline value has seen a modest increase of 10%.

It is important to note that there are no registered figures for the years 2002, 2003, 2007, and 2023 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. The guideline value of Muthamil Nagar VIIth Block 183rd Street is above this median.

• Muthamil Nagar VIIth Block 182nd 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 181st Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar VIIth Block 185th 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 186th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Muthamil Nagar VIIth Block 183rd 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 to Rs 2,97,000. It is important to note that the 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 183rd Street?

The Sub Registrar Office that covers Muthamil Nagar VIIth Block 183rd Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kodungaiyur. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these costs are calculated based on the established value of the property.

When a property is sold, the guideline value helps to ascertain the minimum value at which the property can be registered. This protects both the buyer and seller, as it ensures transparency in the transaction process.

Frequently asked questions

What is the current guideline value of Muthamil Nagar VIIth Block 183rd Street?

The current guideline value of Muthamil Nagar VIIth Block 183rd 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 reflects a decline between 2012 and 2017, followed by a significant increase from 2017 to 2024.

What are the guideline values of other streets in Kodungaiyur?

Other streets in Kodungaiyur have a guideline value ranging from Rs 1,900 to Rs 4,000 per sq.ft. The guideline values for nearby streets in Muthamil Nagar VIIth Block are all Rs 3,300 per sq.ft as of 2024.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles the registration of properties in the area.

How is stamp duty calculated in Kodungaiyur?

Stamp duty in Kodungaiyur is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable based on the guideline value.