Guideline Value for Muthamil Nagar Vth Block 111th Street

Muthamil Nagar Vth Block 111th Street guideline value

The current guideline value of Muthamil Nagar Vth Block 111th 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 Vth Block 111th Street has changed

The guideline value has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 3,000 per sq.ft. This figure was reduced to Rs 2,010 per sq.ft in the 2017 revision, marking a decrease of 33%. However, the value saw a significant increase in the 2023 revision, rising to Rs 3,000 per sq.ft, and then further increased by 10% to Rs 3,300 per sq.ft in the 2024 revision.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 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, placing Muthamil Nagar Vth Block 111th Street's 2024 figure above that median.

• Muthamil Nagar VIth Block 168th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar Vth Block 112th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar VIth Block 167th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar Vth Block 113th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar VIth Block 166th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar Vth Block 114th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Muthamil Nagar Vth Block 111th 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, totaling 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 further calculations.

Which Sub Registrar Office covers Muthamil Nagar Vth Block 111th Street?

The Muthamil Nagar Vth Block 111th 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 in property transactions as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as the registration fees and stamp duty are calculated based on the higher of the guideline value or the sale price.

During the registration process, the guideline value ensures that properties are accurately valued and that the government receives appropriate revenue from transactions. It is crucial for both buyers and sellers to be aware of the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Muthamil Nagar Vth Block 111th Street?

The current guideline value of Muthamil Nagar Vth Block 111th 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 2023 to Rs 3,300 per sq.ft in 2024, reflecting a 10% increase. The value also increased from Rs 2,010 per sq.ft in 2017 to Rs 3,000 per sq.ft in 2023, a rise of 49%.

What is the classification of land in Muthamil Nagar Vth Block 111th Street?

The land classification for Muthamil Nagar Vth Block 111th Street is Residential Special Type - I, indicating its designated use for residential purposes.

What are the stamp duty rates applicable in Kodungaiyur?

The stamp duty rate applicable in Kodungaiyur is 7%, while the registration fee is 2%. These fees are based on 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. This office handles registrations for properties in Muthamil Nagar Vth Block 111th Street.