Guideline Value for M.M.D.A. COLONY - N - BLOCK - QAYITHEE MILLATH STREET

M.M.D.A. Colony - N - Block - Qayithee Millath Street guideline value

The current guideline value for M.M.D.A. Colony - N - Block - Qayithee Millath 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 - N - Block - Qayithee Millath Street has changed

The guideline value for this street has undergone several revisions over the years. In 2007, the value was Rs 1,350 per sq.ft. This increased significantly to Rs 5,500 per sq.ft in 2012, marking a 307% rise. However, from 2012 to 2017, the value decreased to Rs 3,685 per sq.ft, reflecting a decline of 33%. The value then rose sharply to Rs 5,500 per sq.ft in 2023, a 49% increase, before reaching the current value of Rs 6,000 per sq.ft in 2024, which is a 9% increase from the previous year.

It is important to note that there are no figures available for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 344%.

Guideline values in Arumbakkam

In Arumbakkam, there are 391 streets under the Kodambakkam SRO that carry a guideline value for 2024, ranging from Rs 3,300 to Rs 16,500 per sq.ft. The median guideline value in this area is Rs 6,000 per sq.ft, which is equal to the current value of M.M.D.A. Colony - N - Block - Qayithee Millath Street.

• M.M.D.A. Colony - N - Block - Muthamizh Street: Rs 6,000 per sq.ft (2024)
• M.M.D.A. Colony - O - Block - Bagathsingh III Rd Street: Rs 6,000 per sq.ft (2024)
• M.M.D.A. Colony - N - Block - E.V.R. Street: Rs 6,000 per sq.ft (2024)
• M.M.D.A. Colony - O - Block - Bagathsingh II Nd Street: Rs 6,000 per sq.ft (2024)
• M.M.D.A Colony- M.G.R. Street: Rs 6,000 per sq.ft (2024)
• M.M.D.A. Colony - O - Block - Bagathsingh I St Street: Rs 6,000 per sq.ft (2024)

Stamp duty and registration fee for property in M.M.D.A. Colony - N - Block - Qayithee Millath 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, while 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 the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers M.M.D.A. Colony - N - Block - Qayithee Millath Street?

The Sub Registrar Office that covers M.M.D.A. Colony - N - Block - Qayithee Millath 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 details.

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. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that need to be paid. This ensures that the transaction is recorded accurately in the official registry.

Buyers and sellers should be aware that the guideline value may differ from the actual sale price. Therefore, the higher amount between the guideline value and the sale price will be considered for calculating the applicable fees.

Frequently asked questions

What is the current guideline value of M.M.D.A. Colony - N - Block - Qayithee Millath Street?

The current guideline value of M.M.D.A. Colony - N - Block - Qayithee Millath 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 1,350 per sq.ft in 2007 to Rs 6,000 per sq.ft in 2024, marking an overall increase of 344%.

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 registrations for properties in M.M.D.A. Colony - N - Block - Qayithee Millath Street?

The Kodambakkam Sub Registrar Office handles registrations for properties in this area, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

What is the land classification of M.M.D.A. Colony - N - Block - Qayithee Millath Street?

The land classification for M.M.D.A. Colony - N - Block - Qayithee Millath Street is Residential Special Type - II.