Guideline Value for Muthamiz Nagar 2nd Street(Bharathi Block)

Muthamiz Nagar 2nd Street(Bharathi Block) guideline value

The current guideline value of Muthamiz Nagar 2nd Street(Bharathi Block) is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village and falls under the Ashok Nagar SRO. The land classification for this area is Residential Class III Type - III.

How the guideline value of Muthamiz Nagar 2nd Street(Bharathi Block) has changed

The guideline value for Muthamiz Nagar 2nd Street(Bharathi Block) has undergone several revisions over the years. The 2012 revision set the value at Rs 4,000 per sq.ft, which changed to Rs 2,680 per sq.ft in the 2017 revision, marking a decrease of 33%. Following this, the 2023 revision increased the value to Rs 4,000 per sq.ft, and the most recent 2024 revision raised it to Rs 4,400 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has seen a total increase of 10%.

Guideline values in Kodambakkam

Kodambakkam has 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 the 2024 figure for Muthamiz Nagar 2nd Street(Bharathi Block) below this median.

• Muthamiz Nagar 1st Street(Bharathi Block): Rs 4,400 per sq.ft (2024)
• Muthamiz Nagar 3rd Street(Bharathi Block): Rs 4,400 per sq.ft (2024)
• Muthamiz Nagar (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 2nd Street(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 the 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 Muthamiz Nagar 2nd Street(Bharathi Block)?

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

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kodambakkam. It is used to determine the stamp duty and registration fees applicable during the transaction, ensuring that the government receives the appropriate revenue based on the property's assessed value.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used for calculating the stamp duty. This ensures that the registration process reflects the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Muthamiz Nagar 2nd Street(Bharathi Block)?

The current guideline value of Muthamiz Nagar 2nd Street(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 from Rs 4,000 per sq.ft in 2012 to Rs 2,680 per sq.ft in 2017, then back to Rs 4,000 per sq.ft in 2023, and finally to Rs 4,400 per sq.ft in 2024.

What is the land classification for Muthamiz Nagar 2nd Street(Bharathi Block)?

The land classification for Muthamiz Nagar 2nd Street(Bharathi Block) is Residential Class III Type - III.

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

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Which office handles registrations for Muthamiz Nagar 2nd Street(Bharathi Block)?

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