Guideline Value for Muthamil Nagar VIth Block 161st Street

Muthamil Nagar VIth Block 161st Street guideline value

The current guideline value for Muthamil Nagar VIth Block 161st 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 161st Street has changed

In the 2012 revision, the guideline value was set at Rs 3,000 per sq.ft. This figure remained unchanged in the 2023 revision, which also recorded 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% rise from the previous year. Overall, from 2012 to 2024, the guideline value has increased by 10%.

It is important to note that there are no recorded figures for the years 2002, 2003, 2007, and 2017 for Muthamil Nagar VIth Block 161st Street. Therefore, the only revisions that provide a guideline value for this street are from 2012, 2023, and 2024.

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 as per the 2024 revision. The median guideline value for these streets is Rs 2,700 per sq.ft, placing Muthamil Nagar VIth Block 161st Street above this median.

• Muthamil Nagar VIth Block 160th 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 159th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar VIth Block 163rd 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 164th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Muthamil Nagar VIth Block 161st 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 charges to Rs 2,97,000. Duty is charged on the higher of the guideline value and 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 161st Street?

The Muthamil Nagar VIth Block 161st 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 an essential factor when registering property transactions in Kodungaiyur. It serves as a benchmark for calculating the stamp duty and registration fees that need to be paid at the time of registration.

When buying or selling property, the guideline value helps ensure that the transaction is recorded at a fair value, which is crucial for both the buyer and seller. It helps in determining the legal obligations regarding taxes and fees associated with the property transfer.

Frequently asked questions

What is the current guideline value for Muthamil Nagar VIth Block 161st Street?

The current guideline value for Muthamil Nagar VIth Block 161st 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, marking a 10% increase. The value remained unchanged from 2012 to 2023.

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

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 based on the guideline value or the sale price, whichever is higher.

Which office handles the registration for Muthamil Nagar VIth Block 161st Street?

The Madhavaram Sub Registrar Office handles the registration for Muthamil Nagar VIth Block 161st Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What is the land classification for Muthamil Nagar VIth Block 161st Street?

The land classification for Muthamil Nagar VIth Block 161st Street is Residential Special Type - I, indicating the type of development permissible in this area.