Guideline Value for Muthamil Nagar Vth Block 128th Street

Muthamil Nagar Vth Block 128th Street guideline value

The current guideline value for Muthamil Nagar Vth Block 128th 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 128th Street has changed

The guideline value for Muthamil Nagar Vth Block 128th Street has seen several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which decreased to Rs 2,010 per sq.ft in the 2017 revision, marking a decline of 33%. However, the most recent 2024 revision increased the value to Rs 3,300 per sq.ft, representing a significant rise of 64% from 2017.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. It is important to note that there are no figures available in the register for the years 2002, 2003, 2007, and 2023 for this street.

Guideline values in Kodungaiyur

In Kodungaiyur, there are 1,318 streets under the Madhavaram SRO that carry a 2024 guideline value, ranging from Rs 1,900 to Rs 4,000 per sq.ft, with a median value of Rs 2,700 per sq.ft. The guideline value for Muthamil Nagar Vth Block 128th Street is above this median.

• Muthamil Nagar Vth Block 127th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar Vth Block 129th 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 130th 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 131st Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Muthamil Nagar Vth Block 128th 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, while the registration fee at 2% would be Rs 66,000. Together, the total cost for these fees would be 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. You can use the stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Muthamil Nagar Vth Block 128th Street?

The Muthamil Nagar Vth Block 128th 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 information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kodungaiyur. It serves as a reference point for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Muthamil Nagar Vth Block 128th Street?

The current guideline value for Muthamil Nagar Vth Block 128th Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2012, the guideline value has changed from Rs 3,000 per sq.ft to Rs 2,010 per sq.ft in 2017, and then increased to Rs 3,300 per sq.ft in 2024. This represents a 10% overall increase from 2012 to 2024.

What is the land classification for Muthamil Nagar Vth Block 128th Street?

The land classification for Muthamil Nagar Vth Block 128th Street is Residential Special Type - I.

Where can I find the registration office for this area?

The registration office for Muthamil Nagar Vth Block 128th Street is the Madhavaram Sub Registrar Office, 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 higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 at 7%.