Guideline Value for M.B.C Street

M.B.C Street guideline value

The current guideline value of M.B.C Street in Vada Mangalam village, under the Sunguvarchattram SRO, is Rs 250 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class I Type - I land classification.

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

Over the years, the guideline value for M.B.C Street has seen several revisions. The 2012 revision set the value at Rs 250 per sq.ft, which remained unchanged until the 2023 revision, also at Rs 250 per sq.ft. However, from 2017, when the value was Rs 167 per sq.ft, there was a significant increase of 50% to reach Rs 250 per sq.ft in 2023. The register has no figure for the years 2002, 2003, and 2007.

From 2012 to 2017, the guideline value decreased by 33%, but overall, from 2012 to 2024, it has remained stable at Rs 250 per sq.ft. The most recent revision in 2024 shows no change from the previous year, maintaining the value at Rs 250 per sq.ft.

Guideline values in Vada Mangalam

In Vada Mangalam, there are 23 streets under the Sunguvarchattram SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 400 per sq.ft. The median value for these streets is Rs 250 per sq.ft, which is the same as the guideline value for M.B.C Street.

• M.G.R Street: Rs 200 per sq.ft (2024)
• Mooventhar Street: Rs 200 per sq.ft (2024)
• Narayana Nagar-II: Rs 350 per sq.ft (2024)
• Kullakarai Street: Rs 200 per sq.ft (2024)
• N.S.K Salai: Rs 350 per sq.ft (2024)
• Kambar Street: Rs 200 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 250 per sq.ft, the total guideline value would be Rs 2,50,000. The stamp duty at 7% would amount to Rs 17,500, while the registration fee at 2% would be Rs 5,000, bringing the total to Rs 22,500. 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 details.

Which Sub Registrar Office covers M.B.C Street?

The M.B.C Street falls under the jurisdiction of the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Vada Mangalam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, 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 appropriate revenue from property transactions in the area.

Frequently asked questions

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

The current guideline value for M.B.C Street is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 250 per sq.ft from 2012 to 2024, with a significant increase of 50% from Rs 167 per sq.ft in 2017 to Rs 250 per sq.ft in 2023.

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

For a property valued at Rs 2,50,000, the stamp duty would be Rs 17,500 and the registration fee would be Rs 5,000, totaling Rs 22,500.

Which office handles the registration for M.B.C Street?

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

What is the land classification for M.B.C Street?

M.B.C Street is classified under Residential Class I Type - I, indicating its suitability for residential purposes.