Guideline Value for M.M.D.A COLONY -VALLALAR STREET

M.M.D.A Colony -Vallalar Street guideline value

The current guideline value for M.M.D.A Colony -Vallalar Street is Rs 6,000 per sq.ft, effective from 1 July 2024. This street is located in Arumbakkam village and falls under the Kodambakkam SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of M.M.D.A Colony -Vallalar Street has changed

Over the years, the guideline value for M.M.D.A Colony -Vallalar Street has seen several revisions. The 2007 revision set the value at Rs 1,350 per sq.ft, which increased significantly to Rs 5,500 per sq.ft in 2012. However, there was a decrease to Rs 3,685 per sq.ft in the 2017 revision. The 2023 revision raised it to Rs 5,500 per sq.ft, and the most recent 2024 revision established the current value at Rs 6,000 per sq.ft.

From 2017 to 2023, the guideline value increased by 49%, and from 2023 to 2024, it rose by 9%. Notably, the overall increase from the 2007 revision to the 2024 revision is 344%. The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Arumbakkam

In Arumbakkam, there are 391 streets under the Kodambakkam SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 16,500 per sq.ft. The median value for these streets is Rs 6,000 per sq.ft, which matches the current value for M.M.D.A Colony -Vallalar Street.

• M.M.D.A. Colony - Thirupoor Kumaran Street: Rs 6,000 per sq.ft (2024)
• MMDA D Block 1st Cross: Rs 6,000 per sq.ft (2024)
• M.M.D.A. Colony - Sidco I St Street: Rs 6,000 per sq.ft (2024)
• MMDA D Block 2nd Cross: Rs 6,000 per sq.ft (2024)
• M.M.D.A Colony -Samookanala Kooda Street: Rs 6,000 per sq.ft (2024)
• MMDA D Block – Samuganalakuda Street: Rs 6,000 per sq.ft (2024)

Stamp duty and registration fee for property in M.M.D.A Colony -Vallalar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,000 per sq.ft, the total guideline value amounts to Rs 60,00,000. The stamp duty at 7% would be Rs 4,20,000, and the registration fee at 2% would be Rs 1,20,000, totaling Rs 5,40,000. Please 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 to estimate costs for your property transaction.

Which Sub Registrar Office covers M.M.D.A Colony -Vallalar Street?

The Sub Registrar Office that covers M.M.D.A Colony -Vallalar Street 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 is a crucial factor in property transactions in Arumbakkam, as it determines the minimum value at which properties must be registered. This value is used to calculate stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, it is essential to be aware of the guideline value, as it can influence negotiations and the final sale price. Buyers should ensure that the sale price is at least equal to the guideline value to avoid any legal complications during registration.

Frequently asked questions

What is the current guideline value of M.M.D.A Colony -Vallalar Street?

The current guideline value of M.M.D.A Colony -Vallalar Street 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 from Rs 1,350 per sq.ft in 2007 to Rs 6,000 per sq.ft in 2024, reflecting an overall increase of 344% over the years.

What is the land classification for M.M.D.A Colony -Vallalar Street?

The land classification for M.M.D.A Colony -Vallalar Street is Residential Special Type - II.

Which office handles registrations for M.M.D.A Colony -Vallalar Street?

The Kodambakkam Sub Registrar Office handles registrations for M.M.D.A Colony -Vallalar Street, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

How is stamp duty calculated for properties in M.M.D.A Colony -Vallalar Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 60,00,000 would incur a stamp duty of Rs 4,20,000 at a rate of 7%.