Guideline Value for DR. MU.VA.ROAD

Dr. Mu.Va.Road guideline value

The current guideline value of Dr. Mu.Va.Road is Rs 6,000 per sq.ft, effective from 1 July 2024. This road is located in Arumbakkam village, under the Kodambakkam SRO, and is classified as Residential Special Type - II.

How the guideline value of Dr. Mu.Va.Road has changed

Over the years, the guideline value of Dr. Mu.Va.Road has seen significant changes. The earliest recorded revision was in 2003, with a guideline value of Rs 900 per sq.ft. This increased to Rs 1,350 per sq.ft in 2007, marking a growth of 50%. The 2012 revision saw a value of Rs 5,500 per sq.ft, reflecting a substantial increase of 307% from the previous figure. However, this was followed by a decrease to Rs 3,685 per sq.ft in 2017, which represented a decline of 33%. The guideline value then rose to Rs 5,500 per sq.ft in 2023, and finally reached Rs 6,000 per sq.ft in 2024, showing an increase of 9% from the previous year.

It is important to note that there is no recorded figure for Dr. Mu.Va.Road in the 2002 revision. Overall, from 2003 to 2024, the guideline value has increased by 567%.

Guideline values in Arumbakkam

In Arumbakkam, there are 391 streets under the Kodambakkam SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 16,500 per sq.ft. The median for these streets is Rs 6,000 per sq.ft, which is equal to the guideline value of Dr. Mu.Va.Road.

• Dr. Radhakrishnan Salai: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar Street: Rs 4,700 per sq.ft (2024)
• Duraswamy Colony: Rs 6,000 per sq.ft (2024)
• Duraswamy Raja Street: Rs 5,500 per sq.ft (2024)
• Durga Street: Rs 5,500 per sq.ft (2024)
• Eswari Nagar: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Dr. Mu.Va.Road

For a 1,000 sq.ft plot at the current guideline value of Rs 6,000 per sq.ft, the total guideline value would be Rs 60,00,000. The stamp duty at 7% would amount to Rs 4,20,000, and the registration fee at 2% would be Rs 1,20,000, bringing the total fees together to Rs 5,40,000. 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 details.

Which Sub Registrar Office covers Dr. Mu.Va.Road?

The Sub Registrar Office that covers Dr. Mu.Va.Road is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Arumbakkam. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold. Buyers and sellers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

Understanding the guideline value is essential for both buyers and sellers, as it helps in determining the overall cost of the transaction. It is advisable to check the latest guideline values before proceeding with any property transaction to ensure compliance with the registration requirements.

Frequently asked questions

What is the current guideline value of Dr. Mu.Va.Road?

The current guideline value of Dr. Mu.Va.Road is Rs 6,000 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 900 per sq.ft in 2003 to Rs 6,000 per sq.ft in 2024, reflecting an overall increase of 567% over this period.

What are the stamp duty and registration fees for properties on Dr. Mu.Va.Road?

For a property valued at Rs 60,00,000, the stamp duty would be Rs 4,20,000 and the registration fee would be Rs 1,20,000, totaling Rs 5,40,000.

Which Sub Registrar Office is responsible for Dr. Mu.Va.Road?

The Kodambakkam Sub Registrar Office is responsible for Dr. Mu.Va.Road, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

What is the land classification for Dr. Mu.Va.Road?

The land classification for Dr. Mu.Va.Road is Residential Special Type - II, indicating its designated use for residential purposes.