Guideline Value for Muthamiz Nagar (Bharathi Block)

Muthamiz Nagar (Bharathi Block) guideline value

The current guideline value of Muthamiz Nagar (Bharathi Block) is Rs 4,400 per sq.ft, effective from 1 July 2024. This area is located in Kodambakkam village and falls under the Ashok Nagar SRO. The land classification for this region is Residential Class III Type - III.

How the guideline value of Muthamiz Nagar (Bharathi Block) has changed

The guideline value of Muthamiz Nagar (Bharathi Block) has undergone several revisions over the years. In 2007, the guideline value was Rs 800 per sq.ft, which increased significantly to Rs 4,000 per sq.ft in 2012. However, it then saw a decrease to Rs 2,680 per sq.ft in 2017. The most recent revision in 2024 brought the value back up to Rs 4,400 per sq.ft, marking a 64% increase from the 2017 figure. Overall, from 2007 to 2024, the guideline value has increased by 450%.

In the years 2002, 2003, and 2023, the register has no figure for this street. The changes between revisions show a substantial fluctuation in values, with the highest increase being 400% from 2007 to 2012. The transition from 2012 to 2017 saw a decrease of 33%, before the current rise in 2024.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO, with guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 4,900 per sq.ft, placing Muthamiz Nagar (Bharathi Block) below this median.

• Muthamiz Nagar 3rd Street(Bharathi Block): Rs 4,400 per sq.ft (2024)
• Muthamiz Nagar 2nd Street(Bharathi Block): Rs 4,400 per sq.ft (2024)
• Muthamiz Nagar 1st Street(Bharathi Block): Rs 4,400 per sq.ft (2024)
• Muthu Mariamman Koil Street Block 78: Rs 3,300 per sq.ft (2024)
• Muthumariyamman Koil Street: Rs 3,300 per sq.ft (2024)
• Muthuramalinga Devar 1st Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Muthamiz Nagar (Bharathi Block)

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total cost to Rs 3,96,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Muthamiz Nagar (Bharathi Block)?

The Sub Registrar Office that covers Muthamiz Nagar (Bharathi Block) is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near Nolambur Eb Office. You can find your SRO for more information.

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

When buying or selling property in Kodambakkam, the guideline value is a crucial factor during the registration process. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that the transaction is documented accurately.

The guideline value is assessed by the state government and is updated periodically. Buyers and sellers must be aware of the current guideline value to avoid discrepancies during the registration of property transactions.

Frequently asked questions

What is the current guideline value of Muthamiz Nagar (Bharathi Block)?

The current guideline value of Muthamiz Nagar (Bharathi Block) is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 800 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, reflecting a total increase of 450% over the years.

What are the stamp duty rates for properties in Muthamiz Nagar?

The stamp duty for properties in Muthamiz Nagar is charged at 7% of the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office handles registrations for Muthamiz Nagar?

The Ashok Nagar Sub Registrar Office handles registrations for Muthamiz Nagar (Bharathi Block), located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What are the other streets in Kodambakkam with similar guideline values?

Other streets in Kodambakkam with similar guideline values include Muthamiz Nagar 1st, 2nd, and 3rd Streets, all at Rs 4,400 per sq.ft, and Muthu Mariamman Koil Street Block 78 and Muthumariyamman Koil Street at Rs 3,300 per sq.ft.