Guideline Value for Muthurangam Pillai Street Block 78

Muthurangam Pillai Street Block 78 guideline value

The current guideline value of Muthurangam Pillai Street Block 78 is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village and falls under the Ashok Nagar SRO, classified as Residential Class IV Type - II.

How the guideline value of Muthurangam Pillai Street Block 78 has changed

The guideline value for Muthurangam Pillai Street Block 78 has seen several revisions over the years. In 2007, the guideline value was Rs 800 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012. However, from 2012 to 2017, the value decreased to Rs 2,010 per sq.ft. The following revision in 2023 raised the value to Rs 3,000 per sq.ft, and the most recent revision in 2024 set it at Rs 3,300 per sq.ft. The changes between these revisions include a 275% increase from 2007 to 2012, a 33% decrease from 2012 to 2017, a 49% increase from 2017 to 2023, and a 10% increase from 2023 to 2024.

There are no figures available for the revisions in 2002 and 2003 for this street.

Guideline values in Kodambakkam

Kodambakkam has a total of 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 in this area is Rs 4,900 per sq.ft, making the current value of Muthurangam Pillai Street Block 78 below that median.

• Muthuramalinga Devar Street: Rs 2,200 per sq.ft (2024)
• Muthuramalinga Devar 1st Street: Rs 2,200 per sq.ft (2024)
• Muthuvel Street: Rs 6,600 per sq.ft (2024)
• Muthumariyamman Koil Street: Rs 3,300 per sq.ft (2024)
• Muthu Mariamman Koil Street Block 78: Rs 3,300 per sq.ft (2024)
• Nagappan Lane: Rs 4,100 per sq.ft (2024)

Stamp duty and registration fee for property in Muthurangam Pillai Street Block 78

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 be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost to 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 more detailed calculations.

Which Sub Registrar Office covers Muthurangam Pillai Street Block 78?

The Sub Registrar Office that covers Muthurangam Pillai Street Block 78 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 further assistance.

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

The guideline value plays a crucial role in the registration process of property transactions in Kodambakkam. When a property is bought or sold, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that these costs are calculated based on an official valuation.

It is essential for buyers and sellers to be aware of the guideline value, as it affects the overall cost of the transaction. This value is regularly updated to reflect changes in the real estate market and local conditions.

Frequently asked questions

What is the current guideline value of Muthurangam Pillai Street Block 78?

The current guideline value of Muthurangam Pillai Street Block 78 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 800 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, showing an overall increase of 313% over the years.

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

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000, and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which office handles registrations for Muthurangam Pillai Street Block 78?

The Ashok Nagar Sub Registrar Office handles registrations for Muthurangam Pillai Street Block 78, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the significance of the guideline value in property transactions?

The guideline value is significant as it determines the stamp duty and registration fees during property transactions. It ensures that these costs are based on an official valuation, reflecting the current market conditions.