Guideline Value for Muthamil Nagar Vth Block 116th Street

Muthamil Nagar Vth Block 116th Street guideline value

The current guideline value of Muthamil Nagar Vth Block 116th 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 116th Street has changed

The guideline value for Muthamil Nagar Vth Block 116th Street has undergone several revisions over the years. In the 2012 revision, the value was Rs 3,000 per sq.ft. This figure decreased to Rs 2,010 per sq.ft in the 2017 revision. However, it saw a significant increase in the 2023 revision to Rs 3,000 per sq.ft, followed by another increase to Rs 3,300 per sq.ft in the 2024 revision. The register has no figures for the years 2002, 2003, and 2007 for this street.

Between the revisions, the changes were notable. From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The overall change from 2012 to 2024 shows a modest increase of 10%.

Guideline values in Kodungaiyur

Kodungaiyur village has 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 value for these streets is Rs 2,700 per sq.ft, placing Muthamil Nagar Vth Block 116th Street above this median.

• Muthamil Nagar Vth Block 115th 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 114th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar Vth Block 118th 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 119th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Muthamil Nagar Vth Block 116th 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, while the registration fee at 2% would be Rs 66,000. Together, the total cost for these fees 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.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Muthamil Nagar Vth Block 116th Street?

The Muthamil Nagar Vth Block 116th 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 a crucial factor in the registration process of property transactions in Kodungaiyur. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring transparency and fairness in property dealings.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both parties are aware of the financial implications of the transaction based on the established guideline value.

Frequently asked questions

What is the current guideline value of Muthamil Nagar Vth Block 116th Street?

The current guideline value of Muthamil Nagar Vth Block 116th 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 back to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What is the range of guideline values in Kodungaiyur?

The guideline values in Kodungaiyur range from Rs 1,900 to Rs 4,000 per sq.ft, with a median value of Rs 2,700 per sq.ft.

What fees are associated with property transactions in Muthamil Nagar Vth Block 116th Street?

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.

Where can I find the Sub Registrar Office for Muthamil Nagar Vth Block 116th Street?

The Sub Registrar Office covering Muthamil Nagar Vth Block 116th Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.