Guideline Value for Muthamil Nagar Vth Block 124th Street

Muthamil Nagar Vth Block 124th Street guideline value

The current guideline value of Muthamil Nagar Vth Block 124th 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 124th Street has changed

Over the years, the guideline value of Muthamil Nagar Vth Block 124th Street has seen several revisions. The 2012 revision set the value at Rs 3,000 per sq.ft, which was a decrease of 33% from the previous value of Rs 2,010 per sq.ft in 2017. The 2023 revision increased the value to Rs 3,000 per sq.ft, and the latest 2024 revision raised it further to Rs 3,300 per sq.ft, marking a 10% increase from the previous year.

In summary, the guideline value increased from Rs 2,010 per sq.ft in 2017 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 10% from the 2012 figure. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

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, which means the 2024 figure for Muthamil Nagar Vth Block 124th Street is above this median.

• Muthamil Nagar Vth Block 123rd 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 122nd Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar Vth Block 126th 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 127th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Muthamil Nagar Vth Block 124th 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 cost for these fees to Rs 2,97,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Muthamil Nagar Vth Block 124th Street?

The Sub Registrar Office that covers Muthamil Nagar Vth Block 124th Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. To find your SRO, you can visit this link.

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

The guideline value is a crucial factor in property transactions in Kodungaiyur, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as the registration fees and stamp duties are calculated based on the guideline value or the sale price, whichever is higher.

When registering a property, it is essential to ensure that the sale price is not lower than the guideline value, as this could lead to additional costs during the registration process. Thus, understanding the guideline value is vital for both buyers and sellers in the area.

Frequently asked questions

What is the current guideline value of Muthamil Nagar Vth Block 124th Street?

The current guideline value of Muthamil Nagar Vth Block 124th 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. The value 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 124th Street is classified as Residential Special Type - I. This classification affects the guideline value applicable to properties in this area.

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 Muthamil Nagar Vth Block 124th Street.

How is stamp duty calculated for properties in this area?

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