Guideline Value for Muthamil Nagar VIth Block 156th Street

Muthamil Nagar VIth Block 156th Street guideline value

The current guideline value for Muthamil Nagar VIth Block 156th 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 VIth Block 156th 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, the 2024 revision saw an increase to Rs 3,300 per sq.ft, marking a 10% rise from the previous year. Overall, from 2012 to 2024, the guideline value increased by 10%.

It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2017 in the register for this street.

Guideline values in Kodungaiyur

Kodungaiyur has a range of guideline values for its 1,318 streets under the Madhavaram SRO, with values from Rs 1,900 to Rs 4,000 per sq.ft. The median guideline value in this area is Rs 2,700 per sq.ft, placing Muthamil Nagar VIth Block 156th Street above this median.

• Muthamil Nagar VIth Block 155th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar VIth Block 157th 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 158th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar VIth Block 153rd Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar VIth Block 159th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Muthamil Nagar VIth Block 156th 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 costs to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Muthamil Nagar VIth Block 156th Street?

The Muthamil Nagar VIth Block 156th Street falls under the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. For more information, you can find your SRO.

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

The guideline value is a crucial factor during property registration in Kodungaiyur. It serves as a benchmark for determining the stamp duty and registration fees applicable to property transactions.

When buying or selling property, the guideline value is used to calculate the costs associated with registration. Buyers should be aware that the stamp duty is charged based on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value for Muthamil Nagar VIth Block 156th Street?

The current guideline value for Muthamil Nagar VIth Block 156th 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, representing 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 156th Street is Residential Special Type - I, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Which office handles registrations for Muthamil Nagar VIth Block 156th Street?

The Madhavaram Sub Registrar Office handles registrations for Muthamil Nagar VIth Block 156th Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.