Guideline Value for Muthamil Nagar Vth Block 129th Street

Muthamil Nagar Vth Block 129th Street guideline value

The current guideline value for Muthamil Nagar Vth Block 129th 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 129th Street has changed

The guideline value for Muthamil Nagar Vth Block 129th Street has undergone several revisions over the years. The earliest recorded revision is from 2012, where the guideline value was Rs 3,000 per sq.ft. This was followed by a decrease to Rs 2,010 per sq.ft in 2017, marking a decline of 33%. However, the most recent revision in 2024 saw the value rise to Rs 3,300 per sq.ft, which represents an increase of 64% from the 2017 figure.

Overall, comparing the 2012 and 2024 revisions, there has been a modest increase of 10%. It is important to note that there are no recorded figures for this street in the years 2002, 2003, 2007, and 2023.

Guideline values in Kodungaiyur

Kodungaiyur has a total of 1,318 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 for these streets is Rs 2,700 per sq.ft, placing Muthamil Nagar Vth Block 129th Street's value above the median.

• Muthamil Nagar Vth Block 128th 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 127th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar Vth Block 131st 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 132nd Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Muthamil Nagar Vth Block 129th 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 to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Muthamil Nagar Vth Block 129th Street?

The Muthamil Nagar Vth Block 129th 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 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 both buyers and sellers are aware of the official value assigned to the property.

When a property is sold, the guideline value is used to determine the applicable taxes and fees, which are charged based on the higher of the guideline value or the sale price. This ensures transparency and uniformity in property transactions within the region.

Frequently asked questions

What is the current guideline value for Muthamil Nagar Vth Block 129th Street?

The current guideline value for Muthamil Nagar Vth Block 129th 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, and then to Rs 3,300 per sq.ft in 2024. There are no figures available for the years 2002, 2003, 2007, and 2023.

What is the classification of land in Muthamil Nagar Vth Block 129th Street?

The land classification for Muthamil Nagar Vth Block 129th 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 higher of the guideline value or the sale price. For example, a property with a guideline value of Rs 33,00,000 would incur a stamp duty of Rs 2,31,000 at 7%.