Guideline Value for Muthamil Nagar VIth Block 162nd Street

Muthamil Nagar VIth Block 162nd Street guideline value

The current guideline value of Muthamil Nagar VIth Block 162nd 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 162nd 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. However, in the 2024 revision, the guideline value increased to Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year. Overall, from 2012 to 2024, the guideline value has risen by 10%.

The register has no figures for the years 2002, 2003, 2007, and 2017 for this street. Thus, the only revisions available are from 2012, 2023, and 2024.

Guideline values in Kodungaiyur

In Kodungaiyur, there are 1,318 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median value for these streets is Rs 2,700 per sq.ft, placing Muthamil Nagar VIth Block 162nd Street's 2024 figure above that median.

• Muthamil Nagar VIth Block 161st 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 160th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar VIth Block 164th 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 165th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Muthamil Nagar VIth Block 162nd Street

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the 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, totaling Rs 2,97,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Muthamil Nagar VIth Block 162nd Street?

The Muthamil Nagar VIth Block 162nd 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 crucial during property registration as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees that buyers must pay.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. This process helps maintain transparency and accountability in real estate transactions within Kodungaiyur.

Frequently asked questions

What is the current guideline value of Muthamil Nagar VIth Block 162nd Street?

The current guideline value of Muthamil Nagar VIth Block 162nd 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, reflecting a 10% increase. The value remained unchanged from 2012 to 2023.

What is the land classification for Muthamil Nagar VIth Block 162nd Street?

The land classification for Muthamil Nagar VIth Block 162nd Street is Residential Special Type - I, indicating its suitability for residential development.

What is the stamp duty rate for properties in this area?

The stamp duty rate for properties in Muthamil Nagar VIth Block 162nd Street is 7% of the guideline value or the sale price, whichever is higher.

Where is the Madhavaram Sub Registrar Office located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060, and it covers Muthamil Nagar VIth Block 162nd Street.