Guideline Value for Muthamil Nagar Vth Block 121st Street

Muthamil Nagar Vth Block 121st Street guideline value

The current guideline value of Muthamil Nagar Vth Block 121st 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 it is classified as Residential Special Type - I.

How the guideline value of Muthamil Nagar Vth Block 121st Street has changed

Over the years, the guideline value for Muthamil Nagar Vth Block 121st Street has seen several revisions. The 2012 revision set the value at Rs 3,000 per sq.ft, which then decreased to Rs 2,010 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 3,000 per sq.ft in 2023, and then to Rs 3,300 per sq.ft in the 2024 revision. There are no figures available for the revisions in 2002, 2003, and 2007 for this street.

From the 2012 revision to the 2024 revision, the overall change is an increase of 10%. The increase from 2017 to 2023 was 49%, while the change from 2012 to 2017 was a decrease of 33%. The most recent change from 2023 to 2024 reflects a 10% increase.

Guideline values in Kodungaiyur

Kodungaiyur has a total of 1318 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 121st Street above the median.

• Muthamil Nagar Vth Block 120th 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 119th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar Vth Block 123rd 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 124th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Muthamil Nagar Vth Block 121st 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, bringing the total cost for these fees to 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 detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Muthamil Nagar Vth Block 121st Street?

The Muthamil Nagar Vth Block 121st Street falls under the jurisdiction of 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 property transactions as it determines the minimum value on which stamp duty and registration fees are calculated. When buying or selling property in Kodungaiyur, the guideline value serves as a reference point for both parties involved in the transaction.

During the registration process, the buyer must ensure that the sale price is equal to or greater than the guideline value. This ensures compliance with local regulations and helps avoid any legal complications during the property transfer.

Frequently asked questions

What is the current guideline value of Muthamil Nagar Vth Block 121st Street?

The current guideline value of Muthamil Nagar Vth Block 121st 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, marking a 10% increase. It was Rs 2,010 per sq.ft in 2017 and Rs 3,000 per sq.ft in 2012.

What is the land classification for this street?

Muthamil Nagar Vth Block 121st Street is classified as Residential Special Type - I, indicating its suitability for residential development.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles registrations for properties in the area.

How is 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, for a 1,000 sq.ft plot at Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000, leading to specific fees based on that value.