Guideline Value for Muthamil Nagar VIth Block 165th Street

Muthamil Nagar VIth Block 165th Street guideline value

The current guideline value for Muthamil Nagar VIth Block 165th 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 165th 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, marking a 10% rise from the previous year. Overall, from 2012 to 2024, the guideline value has seen a 10% increase.

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

Guideline values in Kodungaiyur

Kodungaiyur village has a total of 1,318 streets under the Madhavaram SRO, with guideline values for 2024 ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median guideline value in the village is Rs 2,700 per sq.ft, placing Muthamil Nagar VIth Block 165th Street's 2024 figure above this median.

• Muthamil Nagar VIth Block 164th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar VIth Block 166th 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 167th 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 168th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Muthamil Nagar VIth Block 165th 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, bringing the total to Rs 2,97,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Muthamil Nagar VIth Block 165th Street?

The Muthamil Nagar VIth Block 165th Street falls under the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kodungaiyur. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that these charges are based on a standardized assessment of property value.

When a property is sold, the buyer must pay the stamp duty and registration fees based on the higher of the guideline value or the sale price. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Muthamil Nagar VIth Block 165th Street?

The current guideline value of Muthamil Nagar VIth Block 165th 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 increased from Rs 3,000 per sq.ft in 2012 to Rs 3,300 per sq.ft in 2024, marking a 10% increase. There was no change in the value between 2012 and 2023.

What is the land classification of Muthamil Nagar VIth Block 165th Street?

Muthamil Nagar VIth Block 165th Street is classified as Residential Special Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for property 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 Sub Registrar Office covers this street?

The Madhavaram Sub Registrar Office covers Muthamil Nagar VIth Block 165th Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.