Guideline Value for Muthamil Nagar Vth Block 120th Street

Muthamil Nagar Vth Block 120th Street guideline value

The current guideline value of Muthamil Nagar Vth Block 120th 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 120th Street has changed

Starting from the 2012 revision, the guideline value was Rs 3,000 per sq.ft. It then decreased to Rs 2,010 per sq.ft in 2017, marking a decline of 33%. The value increased significantly to Rs 3,000 per sq.ft in 2023, and subsequently rose to Rs 3,300 per sq.ft in 2024, reflecting a 10% increase from the previous year. The register has no figures for the years 2002, 2003, and 2007 for this street.

From 2017 to 2023, there was a notable increase of 49%. Overall, comparing the 2012 and 2024 revisions, the guideline value has increased by 10%.

Guideline values in Kodungaiyur

Kodungaiyur has a total of 1,318 streets under the Madhavaram SRO, with guideline values for 2024 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, and Muthamil Nagar Vth Block 120th Street's 2024 figure is above this median.

• Muthamil Nagar Vth Block 119th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar Vth Block 121st 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 122nd 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 123rd Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Muthamil Nagar Vth Block 120th 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 fees to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Muthamil Nagar Vth Block 120th Street?

The Muthamil Nagar Vth Block 120th Street falls under the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. To find your SRO, you can visit find your SRO.

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 properties can be registered, ensuring that the transaction is recorded accurately in the official records.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees, which are mandatory for the legal transfer of property ownership. This ensures transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Muthamil Nagar Vth Block 120th Street?

The current guideline value of Muthamil Nagar Vth Block 120th 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 to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For example, for a property valued at Rs 33,00,000, the total fees would amount to Rs 2,97,000.

Which office handles registrations for Muthamil Nagar Vth Block 120th Street?

The Madhavaram Sub Registrar Office handles registrations for Muthamil Nagar Vth Block 120th Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What is the land classification for Muthamil Nagar Vth Block 120th Street?

Muthamil Nagar Vth Block 120th Street is classified as Residential Special Type - I, indicating its suitability for residential development.