Guideline Value for M.M.D.A. COLONY - A-BLOCK - THANNEER THOTTI SALAI

M.M.D.A. Colony - A-Block - Thanneer Thotti Salai guideline value

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

How the guideline value of M.M.D.A. Colony - A-Block - Thanneer Thotti Salai has changed

The guideline value for M.M.D.A. Colony - A-Block - Thanneer Thotti Salai has seen several revisions over the years. In 2007, the value was Rs 1,250 per sq.ft. This increased significantly to Rs 5,500 per sq.ft in 2012, marking a 340% rise. However, between 2012 and 2017, the value decreased to Rs 3,685 per sq.ft, reflecting a decline of 33%. The value then rose again to Rs 5,500 per sq.ft in 2023, which was a 49% increase from the previous revision. The most recent revision in 2024 set the guideline value at Rs 6,000 per sq.ft, representing a 9% increase from 2023.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 380%.

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 is Rs 6,000 per sq.ft, which is the same as the current guideline value for M.M.D.A. Colony - A-Block - Thanneer Thotti Salai. Below are other streets in Arumbakkam with their respective guideline values:

• MMDA C Block - Pasumpon Street: Rs 6,000 per sq.ft (2024)
• M.M.D.A. Colony - A-Block - Thiru VI.Ka. Square: Rs 6,000 per sq.ft (2024)
• MMDA B Block - Cross Street: Rs 6,000 per sq.ft (2024)
• M.M.D.A. Colony - B - Block - Kaval Nilayam Street: Rs 6,000 per sq.ft (2024)
• M.M.D.A. Colony - Bharathidasan Street: Rs 6,000 per sq.ft (2024)
• M.M.D.A. Colony - C -Block - Cheran Street: Rs 6,000 per sq.ft (2024)

Stamp duty and registration fee for property in M.M.D.A. Colony - A-Block - Thanneer Thotti Salai

For a 1,000 sq.ft plot at the current rate of Rs 6,000 per sq.ft, the 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. It is important to note that 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.M.D.A. Colony - A-Block - Thanneer Thotti Salai?

The M.M.D.A. Colony - A-Block - Thanneer Thotti Salai falls under the jurisdiction of 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. When a property is bought or sold, the guideline value is used to determine the stamp duty and registration fees that need to be paid. This ensures that the government receives the appropriate revenue from property transactions.

It is essential for buyers and sellers to be aware of the current guideline value as it directly impacts the costs involved in property transactions. The guideline value helps in establishing a fair basis for valuation during the registration process, ensuring transparency and compliance with legal requirements.

Frequently asked questions

What is the current guideline value for M.M.D.A. Colony - A-Block - Thanneer Thotti Salai?

The current guideline value for M.M.D.A. Colony - A-Block - Thanneer Thotti Salai 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 1,250 per sq.ft in 2007 to Rs 6,000 per sq.ft in 2024. This represents a total increase of 380% over the years.

What are the stamp duty and registration fees for properties in this area?

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. Duty is charged on the higher of the guideline value or the sale price.

Where can I find the Kodambakkam Sub Registrar Office?

The Kodambakkam Sub Registrar Office is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. This office handles registrations for properties in M.M.D.A. Colony - A-Block - Thanneer Thotti Salai.

What is the land classification for M.M.D.A. Colony - A-Block - Thanneer Thotti Salai?

The land classification for M.M.D.A. Colony - A-Block - Thanneer Thotti Salai is Residential Special Type - II. This classification indicates the type of residential development allowed in the area.