Guideline Value for Muthamil Nagar Vth Block 115th Street

Muthamil Nagar Vth Block 115th Street guideline value

The current guideline value of Muthamil Nagar Vth Block 115th 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 the land classification is Residential Special Type - I.

How the guideline value of Muthamil Nagar Vth Block 115th Street has changed

In the 2012 revision, the guideline value was Rs 3,000 per sq.ft. This value decreased to Rs 2,010 per sq.ft in the 2017 revision, marking a decline of 33%. The value then saw a significant increase to Rs 3,000 per sq.ft in the 2023 revision, followed by a further rise to Rs 3,300 per sq.ft in the 2024 revision, reflecting a 10% increase.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, there has been a net increase of 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 a 2024 guideline value ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median guideline value for these streets is Rs 2,700 per sq.ft, placing Muthamil Nagar Vth Block 115th Street above this median.

• Muthamil Nagar Vth Block 114th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar Vth Block 116th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar Vth Block 113th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar Vth Block 117th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar Vth Block 112th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar Vth Block 118th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Muthamil Nagar Vth Block 115th 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 amount to 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 more details.

Which Sub Registrar Office covers Muthamil Nagar Vth Block 115th Street?

The Muthamil Nagar Vth Block 115th 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 plays a crucial role in the registration process when buying or selling property in Kodungaiyur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of property registration.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Muthamil Nagar Vth Block 115th Street?

The current guideline value of Muthamil Nagar Vth Block 115th 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 Muthamil Nagar Vth Block 115th Street?

The land classification for Muthamil Nagar Vth Block 115th 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 this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 33,00,000 would incur a stamp duty of Rs 2,31,000 at 7%.