Guideline Value for Muthamil Nagar VIth Block 153rd Street

Muthamil Nagar VIth Block 153rd Street guideline value

The current guideline value of Muthamil Nagar VIth Block 153rd 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 it falls under the Residential Special Type - I land classification.

How the guideline value of Muthamil Nagar VIth Block 153rd Street has changed

In the 2012 revision, the guideline value was Rs 3,000 per sq.ft. This figure remained unchanged in the 2023 revision. However, in the 2024 revision, the guideline value increased to Rs 3,300 per sq.ft, marking a 10% increase from the previous year. Overall, from 2012 to 2024, there has been a 10% increase in the guideline value.

The register has no figures for the years 2002, 2003, 2007, and 2017 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 VIth Block 153rd Street is above this median.

• Muthamil Nagar VIth Block 152nd Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar VIth Block 154th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar VIth Block 151st Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar VIth Block 155th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar VIth Block 150th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar VIth Block 156th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Muthamil Nagar VIth Block 153rd 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, resulting in a total of Rs 2,97,000. 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 VIth Block 153rd Street?

The Muthamil Nagar VIth Block 153rd 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 property transactions in Kodungaiyur, as it determines the minimum value at which properties can be registered. Buyers and sellers must be aware of the current guideline value to ensure compliance with registration requirements.

When a property is sold, the stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Muthamil Nagar VIth Block 153rd Street?

The current guideline value of Muthamil Nagar VIth Block 153rd 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 3,300 per sq.ft in 2024, reflecting a 10% increase. There was no change in the value from 2012 to 2023.

What is the land classification for this area?

The land classification for Muthamil Nagar VIth Block 153rd Street is Residential Special Type - I, indicating its suitability for residential development.

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 for properties in this area?

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