Guideline Value for Muthamil Nagar Vth Block 112th Street

Muthamil Nagar Vth Block 112th Street guideline value

The current guideline value for Muthamil Nagar Vth Block 112th 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 Vth Block 112th Street has changed

Over the years, the guideline value of Muthamil Nagar Vth Block 112th Street has seen several revisions. The 2012 revision set the value at Rs 3,000 per sq.ft, which was then reduced to Rs 2,010 per sq.ft in 2017. In 2023, the value increased to Rs 3,000 per sq.ft, and the latest revision in 2024 has raised it to Rs 3,300 per sq.ft. The changes from one revision to the next are significant, with a 49% increase from 2017 to 2023 and a 10% increase from 2023 to 2024.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

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 the 2024 guideline value for Muthamil Nagar Vth Block 112th Street above this median.

• Muthamil Nagar Vth Block 111th 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 168th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar Vth Block 114th 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 115th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Muthamil Nagar Vth Block 112th 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 would be 7% of this value, amounting to Rs 2,31,000, while the registration fee at 2% would be Rs 66,000. Together, the total cost for stamp duty and registration fee would be 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 use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Muthamil Nagar Vth Block 112th Street?

The Muthamil Nagar Vth Block 112th Street is covered by 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 a crucial factor when registering property transactions in Kodungaiyur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the state receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. It is essential for buyers to be aware of this value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Muthamil Nagar Vth Block 112th Street?

The current guideline value of Muthamil Nagar Vth Block 112th 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. It was Rs 2,010 per sq.ft in 2017, showing a 49% increase from then to 2023.

What is the land classification for Muthamil Nagar Vth Block 112th Street?

The land classification for Muthamil Nagar Vth Block 112th Street is Residential Special Type - I.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is the stamp duty calculated for properties in Muthamil Nagar Vth Block 112th Street?

The stamp duty is calculated at 7% of the guideline value, while the registration fee is 2% of the guideline value. The total cost is based on the higher of the guideline value or the sale price.