Guideline Value for Muthamil Nagar Vth Block 132nd Street

Muthamil Nagar Vth Block 132nd Street guideline value

The current guideline value for Muthamil Nagar Vth Block 132nd 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 132nd Street has changed

In the 2012 revision, the guideline value was Rs 3,000 per sq.ft. This figure remained until the 2017 revision, where it decreased to Rs 2,010 per sq.ft, marking a decline of 33%. The value then increased significantly to Rs 3,000 per sq.ft in the 2023 revision, and further rose to Rs 3,300 per sq.ft in the 2024 revision, reflecting a 10% increase.

From 2017 to 2023, the guideline value saw a substantial increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

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. The median guideline value in this area is Rs 2,700 per sq.ft, placing Muthamil Nagar Vth Block 132nd Street's 2024 figure above the median.

• Muthamil Nagar Vth Block 131st Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar Vth Block 133rd 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 134th 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 135th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Muthamil Nagar Vth Block 132nd 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, leading to a total of Rs 2,97,000. Duty is charged on the higher of the guideline value and 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 132nd Street?

The Muthamil Nagar Vth Block 132nd 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 a crucial factor in property transactions in Kodungaiyur, as it determines the minimum value at which properties can be registered. Buyers and sellers must consider this value when negotiating sale prices, as it influences the stamp duty and registration fees applicable during the transaction.

When registering a property, the stamp duty is calculated based on the higher of the guideline value or the actual sale price. This ensures that all transactions are conducted transparently and in accordance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Muthamil Nagar Vth Block 132nd Street?

The current guideline value for Muthamil Nagar Vth Block 132nd Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2012 revision, the guideline value has fluctuated from Rs 3,000 to Rs 2,010 in 2017, then back to Rs 3,000 in 2023, and finally to Rs 3,300 in 2024. The overall change from 2012 to 2024 is an increase of 10%.

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

The stamp duty is calculated at 7% of the guideline value, while 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 office handles property registrations in Muthamil Nagar Vth Block 132nd Street?

The Madhavaram Sub Registrar Office covers property registrations in Muthamil Nagar Vth Block 132nd Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What is the land classification of Muthamil Nagar Vth Block 132nd Street?

The land classification for Muthamil Nagar Vth Block 132nd Street is Residential Special Type - I, which indicates its suitability for residential purposes.