Guideline Value for Muthamil Nagar VIth Block 160th Street

Muthamil Nagar VIth Block 160th Street guideline value

The current guideline value for Muthamil Nagar VIth Block 160th Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village and falls under the Madhavaram SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Muthamil Nagar VIth Block 160th Street has changed

The guideline value for Muthamil Nagar VIth Block 160th Street has seen several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which then decreased to Rs 2,010 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 3,000 per sq.ft in 2023, and further rose to Rs 3,300 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The revisions for the years 2002, 2003, and 2007 do not have any figures available for this street.

Guideline values in Kodungaiyur

In Kodungaiyur, there are 1,318 streets under the Madhavaram SRO that have a guideline value for 2024 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, which means that Muthamil Nagar VIth Block 160th Street's 2024 figure is above that median.

• Muthamil Nagar VIth Block 159th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar VIth Block 161st 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 162nd 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 163rd Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Muthamil Nagar VIth Block 160th 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 cost for these fees 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 also use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Muthamil Nagar VIth Block 160th Street?

The Muthamil Nagar VIth Block 160th Street is covered by 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 an essential factor in the property registration process in Kodungaiyur. It serves as a benchmark for determining the stamp duty and registration fees that are applicable when buying or selling property in the area.

When a property is registered, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. 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 160th Street?

The current guideline value for Muthamil Nagar VIth Block 160th 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, then increased to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What is the land classification for Muthamil Nagar VIth Block 160th Street?

The land classification for Muthamil Nagar VIth Block 160th Street is Residential Special Type - I.

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

The stamp duty rate for properties in Muthamil Nagar VIth Block 160th Street is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Which office handles registrations for Muthamil Nagar VIth Block 160th Street?

The registrations for Muthamil Nagar VIth Block 160th Street are handled by the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.