Guideline Value for M.B.C Street

M.B.C Street guideline value

The current guideline value of M.B.C Street in Mambakkam village is Rs 305 per sq.ft, effective from the 2024 revision. This street falls under the Sunguvarchattram SRO and is classified as Residential Class I Type - I.

How the guideline value of M.B.C Street has changed

The guideline value for M.B.C Street has seen several revisions over the years. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was Rs 300 per sq.ft, which increased by 2% to Rs 305 per sq.ft in the 2024 revision.

This change reflects a modest increase in the guideline value over the past year. The 2024 figure of Rs 305 per sq.ft is equal to the median guideline value for other streets in Mambakkam under the Sunguvarchattram SRO.

Guideline values in Mambakkam

In Mambakkam, there are 39 streets under the Sunguvarchattram SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 1,418 per sq.ft. The median guideline value is Rs 305 per sq.ft, which aligns with the current value of M.B.C Street.

• Mettu Street: Rs 305 per sq.ft (2024)
• Main Road: Rs 505 per sq.ft (2024)
• Mahalakshmi Farms: Rs 505 per sq.ft (2024)
• Muthumariamman Kovil Street: Rs 305 per sq.ft (2024)
• Naddu Street: Rs 275 per sq.ft (2024)
• Narayana Nagar: Rs 505 per sq.ft (2024)

Stamp duty and registration fee for property in M.B.C Street

For a 1,000 sq.ft plot at the current guideline value of Rs 305 per sq.ft, the total guideline value amounts to Rs 3,05,000. The stamp duty at 7% would be Rs 21,350, and the registration fee at 2% would be Rs 6,100, making the total fees Rs 27,450. 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 M.B.C Street?

The Sub Registrar Office that covers M.B.C Street is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Mambakkam. It serves as a benchmark for determining the stamp duty and registration fees payable during the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the correct revenue based on the property's value.

Frequently asked questions

What is the current guideline value of M.B.C Street?

The current guideline value of M.B.C Street is Rs 305 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

The guideline value for M.B.C Street has increased from Rs 300 per sq.ft in 2023 to Rs 305 per sq.ft in 2024, reflecting a 2% increase. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What is the median guideline value for streets in Mambakkam?

The median guideline value for streets in Mambakkam under the Sunguvarchattram SRO is Rs 305 per sq.ft, which is the same as the current value of M.B.C Street.

What are the stamp duty and registration fees for a property in M.B.C Street?

For a property with a guideline value of Rs 3,05,000, the stamp duty would be Rs 21,350 and the registration fee would be Rs 6,100, resulting in total fees of Rs 27,450.

Where is the Sub Registrar Office for M.B.C Street located?

The Sub Registrar Office for M.B.C Street is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone.