Guideline Value for Muthamil Nagar VIth Block 157th Street

Muthamil Nagar VIth Block 157th Street guideline value

The current guideline value of Muthamil Nagar VIth Block 157th 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 157th 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, where it was still Rs 3,000 per sq.ft. 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 the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The register has no figure for the revisions in 2002, 2003, 2007, and 2017 for this street.

Guideline values in Kodungaiyur

In Kodungaiyur, there are 1,318 streets under the Madhavaram SRO, with guideline values ranging 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, making the 2024 figure for Muthamil Nagar VIth Block 157th Street above this median.

• Muthamil Nagar VIth Block 156th 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 155th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar VIth Block 159th 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 160th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Muthamil Nagar VIth Block 157th Street

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the 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, totaling Rs 2,97,000. Duty is charged on the higher of the guideline value and 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 157th Street?

The Muthamil Nagar VIth Block 157th 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, as it determines the amount of stamp duty and registration fees payable during the registration process. Buyers and sellers must consider this value to ensure compliance with local regulations and to avoid any legal issues.

When a property is bought or sold, the guideline value serves as a benchmark for assessing the transaction value. It helps maintain transparency in property dealings and 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 157th Street?

The current guideline value of Muthamil Nagar VIth Block 157th 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 increased from Rs 3,000 per sq.ft to Rs 3,300 per sq.ft in 2024, marking a 10% increase overall. The value remained unchanged from 2012 to 2023.

What is the land classification for this street?

Muthamil Nagar VIth Block 157th Street is classified as 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 guideline value or the sale price, whichever is higher. For example, a property valued at Rs 33,00,000 would incur a stamp duty of Rs 2,31,000 at the rate of 7%.