Guideline Value for Muthamil Nagar Vth Block 113th Street

Muthamil Nagar Vth Block 113th Street guideline value

The current guideline value of Muthamil Nagar Vth Block 113th 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 Vth Block 113th Street has changed

The guideline value for Muthamil Nagar Vth Block 113th Street has seen several revisions over the years. In 2012, the value was Rs 3,000 per sq.ft, which decreased to Rs 2,010 per sq.ft in 2017. Following this, the value increased significantly to Rs 3,000 per sq.ft in 2023, and then rose again to Rs 3,300 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2017 to 2023, there was a substantial increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register does not contain figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Kodungaiyur

Kodungaiyur has a total of 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, making the 2024 figure for Muthamil Nagar Vth Block 113th Street above this median.

• Muthamil Nagar Vth Block 112th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar Vth Block 114th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar Vth Block 111th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar Vth Block 115th 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 116th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Muthamil Nagar Vth Block 113th 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 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 details.

Which Sub Registrar Office covers Muthamil Nagar Vth Block 113th Street?

The Muthamil Nagar Vth Block 113th 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 plays a crucial role in the registration process of property transactions in Kodungaiyur. It serves as a benchmark for determining the amount of stamp duty and registration fees that need to be paid when buying or selling property.

When a property is registered, the higher of the guideline value or the sale price is taken into account for calculating these charges. This ensures that the registration process is transparent and based on the official valuation set by the authorities.

Frequently asked questions

What is the current guideline value for Muthamil Nagar Vth Block 113th Street?

The current guideline value for Muthamil Nagar Vth Block 113th 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 2,010 per sq.ft in 2017, then increased to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What is the land classification for this area?

The land classification for Muthamil Nagar Vth Block 113th 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 property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 33,00,000, the stamp duty would be calculated at 7% of this amount.