Guideline Value for Muthamil Nagar VIIth Block 186th Street

Muthamil Nagar VIIth Block 186th Street guideline value

The current guideline value for Muthamil Nagar VIIth Block 186th Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village under the Madhavaram SRO, with a land classification of Residential Special Type - I.

How the guideline value of Muthamil Nagar VIIth Block 186th 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 value increased significantly to Rs 3,300 per sq.ft, which is a rise of 64%. Overall, comparing the 2012 and 2024 revisions, there has been a modest increase of 10%.

It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2023 for this street.

Guideline values in Kodungaiyur

Kodungaiyur 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 as per the 2024 revision. The median guideline value in this area is Rs 2,700 per sq.ft, making the current value of Muthamil Nagar VIIth Block 186th Street higher than the median.

• Muthamil Nagar VIIth Block 185th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar VIIth Block 187th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar VIIth Block 184th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar VIth Block 141st Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar VIIth Block 183rd Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar VIth Block 142nd Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Muthamil Nagar VIIth Block 186th 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 fees to 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 also use our stamp duty and registration fee calculator for a detailed calculation.

Which Sub Registrar Office covers Muthamil Nagar VIIth Block 186th Street?

The Muthamil Nagar VIIth Block 186th Street falls under the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. To find your specific SRO, you can visit find your SRO.

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

The guideline value is a critical factor in the registration process of property transactions in Kodungaiyur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transfer of property ownership.

When a property is sold, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties and fees. 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 186th Street?

The current guideline value of Muthamil Nagar VIIth Block 186th 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 186th Street is Residential Special Type - I.

Which office handles registrations for this area?

The Madhavaram Sub Registrar Office handles registrations for Muthamil Nagar VIIth Block 186th Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What are the stamp duty rates for properties in this area?

The stamp duty for properties in Muthamil Nagar VIIth Block 186th Street is 7% of the guideline value or sale price, whichever is higher, along with a registration fee of 2%.