Guideline Value for Muthamil Nagar Vth Block 122nd Street

Muthamil Nagar Vth Block 122nd Street guideline value

The current guideline value of Muthamil Nagar Vth Block 122nd Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village, under the Madhavaram SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Muthamil Nagar Vth Block 122nd Street has changed

The guideline value for Muthamil Nagar Vth Block 122nd Street has undergone several revisions over the years. From the 2012 revision, which was Rs 3,000 per sq.ft, it decreased to Rs 2,010 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly by 49% to reach Rs 3,000 per sq.ft. The most recent revision in 2024 saw a further increase of 10%, bringing the current value to Rs 3,300 per sq.ft.

It is important to note that there are no figures available for this street in the revisions of 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 10%.

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 as of 2024. The median guideline value in this village is Rs 2,700 per sq.ft, making the 2024 figure for Muthamil Nagar Vth Block 122nd Street above that median.

• Muthamil Nagar Vth Block 121st 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 120th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar Vth Block 124th 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 125th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Muthamil Nagar Vth Block 122nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, while the registration fee at 2% would be Rs 66,000, bringing the total 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 information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Muthamil Nagar Vth Block 122nd Street?

The Muthamil Nagar Vth Block 122nd 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 details.

How the guideline value is used when you buy or sell in Kodungaiyur

The guideline value is an essential factor in the registration of property transactions in Kodungaiyur. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, the guideline value helps determine the legal value of the property for registration purposes. This ensures transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Muthamil Nagar Vth Block 122nd Street?

The current guideline value of Muthamil Nagar Vth Block 122nd 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 122nd Street?

The land classification for Muthamil Nagar Vth Block 122nd 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 stamp duty calculated for properties in this area?

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