Guideline Value

Corporate

Guideline Value for M.M.D.A COLONY- M.G.R. STREET

₹6000/sq.ft.

The guideline value for M.m.d.a Colony- M.g.r. Street in Arumbakkam village (Kodambakkam SRO, Chennai zone) is Rs 6000 per sq.ft, effective 1 July 2024. It was Rs 5500 per sq.ft from 1 April 2023, a 9% change. The land classification is Residential Special Type - Ii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Arumbakkam

Village

Kodambakkam

SRO

Residential Special Type - II
History
Period Guideline Value
From 1-7-2024 ₹6000 /sq.ft.
From 1-4-2023 ₹5500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹3685 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹5500 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹1350 /sq.ft.
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.
044-24843265
[email protected]

DRO (District Registrar Office)

No.182 Bharati Salai (pycrafts Road) Royapettah, Chennai - 600 014.
044-28613607
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on M.m.d.a Colony- M.g.r. Street

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M.M.D.A Colony- M.G.R. Street guideline value

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

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

The guideline value for M.M.D.A Colony- M.G.R. Street has undergone several revisions over the years. In the 2007 revision, the value was Rs 1,350 per sq.ft, which increased significantly to Rs 5,500 per sq.ft in 2012. However, this figure dropped to Rs 3,685 per sq.ft in 2017. The 2023 revision saw a rise to Rs 5,500 per sq.ft, followed by the current value of Rs 6,000 per sq.ft in 2024, marking a 9% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 344%. The revisions for 2002 and 2003 do not have figures available for this street.

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 value for these streets is Rs 6,000 per sq.ft, which aligns with the 2024 figure for M.M.D.A Colony- M.G.R. Street.

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

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 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 also use the stamp duty and registration fee calculator for accurate calculations.

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

The M.M.D.A Colony- M.G.R. Street falls under 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 critical factor in the registration process of property transactions in Arumbakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that transactions are conducted fairly and transparently.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher, which can significantly impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value for M.M.D.A Colony- M.G.R. Street?

The current guideline value for M.M.D.A Colony- M.G.R. 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 seen several revisions, starting from Rs 1,350 per sq.ft in 2007, increasing to Rs 5,500 in 2012, and then fluctuating to Rs 3,685 in 2017. The value rose to Rs 5,500 in 2023 and currently stands at Rs 6,000 in 2024.

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

M.M.D.A Colony- M.G.R. Street is classified as Residential Special Type - II, which defines the usage and development regulations for the area.

Where is the Kodambakkam Sub Registrar Office located?

The Kodambakkam Sub Registrar Office is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. This office handles the registration of properties in the area.

How is stamp duty calculated for properties in Arumbakkam?

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