Guideline Value for B.K. Mugamad Road

B.K. Mugamad Road guideline value

The current guideline value of B.K. Mugamad Road is Rs 3,601 per sq.ft, effective from 1 July 2024. This road is located in 5. Athipattu village under the Konnur SRO, classified as Industries Type - II.

How the guideline value of B.K. Mugamad Road has changed

The guideline value for B.K. Mugamad Road has experienced several revisions over the years. The 2017 revision set the value at Rs 2,211 per sq.ft. This figure increased significantly by 49% to Rs 3,300 per sq.ft in the 2023 revision. The latest revision in 2024 reflects a further increase of 9%, bringing the current guideline value to Rs 3,601 per sq.ft.

It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street. Overall, from 2017 to 2024, the guideline value has increased by 63%.

Guideline values in 5. Athipattu

In 5. Athipattu, there are 119 streets under the Konnur SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 7,650 per sq.ft. The median value for the area is Rs 2,200 per sq.ft, indicating that B.K. Mugamad Road's 2024 figure is above this median.

• Bramhaputra Street(ICF): Rs 2,200 per sq.ft (2024)
• Bhavani Salai(Chelliamman nagar): Rs 2,200 per sq.ft (2024)
• Brindhavan Colony: Rs 1,600 per sq.ft (2024)
• Bharathi Street: Rs 2,200 per sq.ft (2024)
• Bharathidasan Street (Chelliamman): Rs 2,200 per sq.ft (2024)
• Bethania street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in B.K. Mugamad Road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,601 per sq.ft, the total guideline value would be Rs 36,01,000. The stamp duty at 7% would amount to Rs 2,52,070, and the registration fee at 2% would be Rs 72,020. Together, these fees would total Rs 3,24,090. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers B.K. Mugamad Road?

The B.K. Mugamad Road is covered by the Konnur Sub Registrar Office, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. For more information, you can find your SRO.

How the guideline value is used when you buy or sell in 5. Athipattu

The guideline value is a crucial factor when buying or selling property in 5. Athipattu. It serves as a benchmark for determining the minimum value at which a property can be registered. This ensures that the transaction is recorded accurately and fairly in the official records.

When registering a property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs incurred during the transaction. Buyers should be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of B.K. Mugamad Road?

The current guideline value of B.K. Mugamad Road is Rs 3,601 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,211 per sq.ft in 2017 to Rs 3,601 per sq.ft in 2024, reflecting an overall increase of 63%.

What is the land classification for B.K. Mugamad Road?

B.K. Mugamad Road is classified as Industries Type - II, indicating its suitability for industrial activities.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. These fees are calculated based on the higher of the guideline value or the sale price.

Which office handles registrations for B.K. Mugamad Road?

The Konnur Sub Registrar Office handles registrations for B.K. Mugamad Road, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.