Guideline Value for M.M.D.A. COLONY - I - BLOCK - MUTHUMARIAMMAN KOIL STREET

M.M.D.A. Colony - I - Block - Muthumariamman Koil Street guideline value

The current guideline value of M.M.D.A. Colony - I - Block - Muthumariamman Koil 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 the land classification is Residential Special Type - II.

How the guideline value of M.M.D.A. Colony - I - Block - Muthumariamman Koil Street has changed

The guideline value for M.M.D.A. Colony - I - Block - Muthumariamman Koil Street has undergone several revisions over the years. In the 2007 revision, the value was set at Rs 1,250 per sq.ft. This increased significantly in the 2012 revision to Rs 5,500 per sq.ft, marking a 340% rise. However, in the 2017 revision, the value dropped to Rs 3,685 per sq.ft, reflecting a decrease of 33% from the previous revision. The value then saw a substantial increase in the 2023 revision, rising to Rs 5,500 per sq.ft, which was a 49% increase. The latest revision in 2024 set the value at Rs 6,000 per sq.ft, showing a 9% increase from the previous year.

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

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 is Rs 6,000 per sq.ft, which is the same as the current guideline value for M.M.D.A. Colony - I - Block - Muthumariamman Koil Street. Below are the guideline values for other streets in Arumbakkam:

• M.M.D.A. Colony - I - Block - Muthumahalingam Street: Rs 6,000 per sq.ft (2024)
• M.M.D.A. Colony - I - Block - Thirumagal II Nd Street: Rs 6,000 per sq.ft (2024)
• M.M.D.A. Colony - I - Block - Kambar Street: Rs 6,000 per sq.ft (2024)
• M.M.D.A. Colony - I - Block - Thirumagal Street: Rs 6,000 per sq.ft (2024)
• M.M.D.A. Colony - I - Block - Kalaigner Street: Rs 6,000 per sq.ft (2024)
• M.M.D.A. Colony - I - Muthuramalingam Street: Rs 6,000 per sq.ft (2024)

Stamp duty and registration fee for property in M.M.D.A. Colony - I - Block - Muthumariamman Koil 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 be Rs 4,20,000, and the registration fee at 2% would be Rs 1,20,000, bringing the total cost for these fees to Rs 5,40,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers M.M.D.A. Colony - I - Block - Muthumariamman Koil Street?

The M.M.D.A. Colony - I - Block - Muthumariamman Koil 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 details.

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

The guideline value is an essential factor during the registration of property transactions in Arumbakkam. It serves as a benchmark for determining the minimum value of a property, ensuring that the transaction is registered at a legitimate value, which helps in assessing taxes and fees accurately.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. This ensures that both parties in the transaction are aware of the official value assigned to the property, which is crucial for legal and financial purposes.

Frequently asked questions

What is the current guideline value of M.M.D.A. Colony - I - Block - Muthumariamman Koil Street?

The current guideline value of M.M.D.A. Colony - I - Block - Muthumariamman Koil 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 significantly from Rs 1,250 per sq.ft in 2007 to Rs 6,000 per sq.ft in 2024, representing an overall increase of 380%.

What are the stamp duty and registration fees for 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 the registration for this street?

The Kodambakkam Sub Registrar Office handles the registration for M.M.D.A. Colony - I - Block - Muthumariamman Koil 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 - I - Block - Muthumariamman Koil Street is Residential Special Type - II.