Guideline Value for Muthamil Nagar Vth Block 123rd Street

Muthamil Nagar Vth Block 123rd Street guideline value

The current guideline value for Muthamil Nagar Vth Block 123rd 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 is classified as Residential Special Type - I.

How the guideline value of Muthamil Nagar Vth Block 123rd Street has changed

Over the years, the guideline value for Muthamil Nagar Vth Block 123rd Street has seen several revisions. The 2012 revision set the value at Rs 3,000 per sq.ft. This figure decreased to Rs 2,010 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly by 49% to Rs 3,000 per sq.ft. The most recent revision in 2024 raised the value further to Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Kodungaiyur

In Kodungaiyur, there are 1,318 streets under the Madhavaram SRO that carry a guideline value for 2024, 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 123rd Street above this median.

• Muthamil Nagar Vth Block 122nd 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 121st Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar Vth Block 125th 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 126th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Muthamil Nagar Vth Block 123rd 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, and 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 further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Muthamil Nagar Vth Block 123rd Street?

The Muthamil Nagar Vth Block 123rd 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 plays a crucial role in the registration process when buying or selling property in Kodungaiyur. It serves as the benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is considered to ensure that the transaction is registered at a value that reflects the official rates set by the government. This helps in maintaining transparency and accountability in property transactions.

Frequently asked questions

What is the current guideline value of Muthamil Nagar Vth Block 123rd Street?

The current guideline value of Muthamil Nagar Vth Block 123rd 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, a 10% increase. It was Rs 2,010 per sq.ft in 2017, which increased to Rs 3,000 per sq.ft in 2023, marking a 49% rise.

What is the land classification for Muthamil Nagar Vth Block 123rd Street?

The land classification for Muthamil Nagar Vth Block 123rd Street is Residential Special Type - I. This classification indicates the designated use of the land within this area.

What are the stamp duty and registration fees for properties in this area?

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

Which Sub Registrar Office covers this street?

The Madhavaram Sub Registrar Office covers Muthamil Nagar Vth Block 123rd Street. It is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.