Guideline Value for M.M.D.A. COLONY - C -BLOCK - PADASALAI STREET (SCHOOL STREET)

M.M.D.A. Colony - C -Block - Padasalai Street (School Street) guideline value

The current guideline value of M.M.D.A. Colony - C -Block - Padasalai Street (School 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 - C -Block - Padasalai Street (School Street) has changed

The guideline value for M.M.D.A. Colony - C -Block - Padasalai Street (School Street) has seen several revisions over the years. The 2007 revision set the guideline value at Rs 1,250 per sq.ft, which significantly increased to Rs 5,500 per sq.ft in 2012. However, this figure saw a decrease to Rs 3,685 per sq.ft in 2017. Following this, the guideline value rose to Rs 5,500 per sq.ft in 2023, and the most recent revision in 2024 brought it to Rs 6,000 per sq.ft.

In terms of percentage changes, the guideline value increased by 340% from 2007 to 2012, then decreased by 33% from 2012 to 2017. The value then saw a substantial increase of 49% from 2017 to 2023, followed by a 9% increase from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 380%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Arumbakkam

In Arumbakkam, there are 391 streets under the Kodambakkam SRO that have 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 is the same as the current guideline value for M.M.D.A. Colony - C -Block - Padasalai Street (School Street).

• M.M.D.A. Colony - C -Block - Chozhan Street: Rs 6,000 per sq.ft (2024)
• M.M.D.A. Colony - C -Block - Pallavan Street: Rs 6,000 per sq.ft (2024)
• M.M.D.A. Colony - C -Block - Cheran Street: Rs 6,000 per sq.ft (2024)
• M.M.D.A. Colony - C - B - Vallalar 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 - B - Block - Kaval Nilayam Street: Rs 6,000 per sq.ft (2024)

Stamp duty and registration fee for property in M.M.D.A. Colony - C -Block - Padasalai Street (School 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, while the registration fee at 2% would be Rs 1,20,000, bringing the total 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 use our stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers M.M.D.A. Colony - C -Block - Padasalai Street (School Street)?

The M.M.D.A. Colony - C -Block - Padasalai Street (School Street) 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 is a crucial factor when buying or selling property in Arumbakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable during the transaction. Buyers must ensure that the sale price is either at or above the guideline value to avoid any discrepancies at the time of registration.

When registering a property, the guideline value ensures that the transaction is recorded at a fair value, which helps maintain transparency in the real estate market. It is essential for both buyers and sellers to be aware of the current guideline value to facilitate a smooth registration process.

Frequently asked questions

What is the current guideline value of M.M.D.A. Colony - C -Block - Padasalai Street?

The current guideline value of M.M.D.A. Colony - C -Block - Padasalai Street (School 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 1,250 per sq.ft in 2007 to Rs 6,000 per sq.ft in 2024, reflecting an overall increase of 380% over the years.

What are the stamp duty and registration fees for a property 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.

Which office handles registrations for M.M.D.A. Colony - C -Block - Padasalai Street?

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

What is the land classification for this street?

The land classification for M.M.D.A. Colony - C -Block - Padasalai Street (School Street) is Residential Special Type - II.