Guideline Value for Muthamil Nagar VIth Block 154th Street

Muthamil Nagar VIth Block 154th Street guideline value

The current guideline value for Muthamil Nagar VIth Block 154th Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village under the Madhavaram SRO, classified as Residential Special Type - I.

How the guideline value of Muthamil Nagar VIth Block 154th 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, reflecting a 10% rise from the previous year. Overall, the guideline value has increased by 10% from 2012 to 2024.

There are no figures available for the revisions in 2002, 2003, 2007, and 2017 for this street. The 2024 value is the first significant change since 2012.

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 of 2024. The median guideline value for the village is Rs 2,700 per sq.ft, placing Muthamil Nagar VIth Block 154th Street above this median.

• Muthamil Nagar VIth Block 153rd 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 152nd Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar VIth Block 156th 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 157th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Muthamil Nagar VIth Block 154th 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, leading to a total of 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 further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Muthamil Nagar VIth Block 154th Street?

The Sub Registrar Office that covers Muthamil Nagar VIth Block 154th Street is 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 plays a crucial role during the registration of property transactions in Kodungaiyur. It is used to determine the stamp duty and registration fees that buyers and sellers must pay when completing a property transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two values is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Muthamil Nagar VIth Block 154th Street?

The current guideline value for Muthamil Nagar VIth Block 154th Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2012 revision, the guideline value has increased by 10%, from Rs 3,000 per sq.ft to Rs 3,300 per sq.ft in 2024. There were no changes recorded for this street in the revisions from 2002, 2003, 2007, and 2017.

What is the land classification for this street?

Muthamil Nagar VIth Block 154th Street is classified as Residential Special Type - I. This classification affects the guideline value and property regulations in the area.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is 7% of the higher value between the guideline value and sale price, while the registration fee is 2%. For example, a 1,000 sq.ft plot at the guideline value would incur a total of Rs 2,97,000 in fees.

Where can I find the Sub Registrar Office for this street?

The Madhavaram Sub Registrar Office covers Muthamil Nagar VIth Block 154th Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find more information about your SRO online.