Guideline Value for M.M.D.A. COLONY - P - BLOCK - M.G.R. III RD STREET

M.M.D.A. Colony - P - Block - M.G.R. III Rd Street guideline value

The current guideline value for M.M.D.A. Colony - P - Block - M.G.R. III Rd 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 - P - Block - M.G.R. III Rd Street has changed

The guideline value for M.M.D.A. Colony - P - Block - M.G.R. III Rd Street has seen several revisions over the years. The 2012 revision set the value at Rs 5,500 per sq.ft, which was then reduced to Rs 3,685 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 5,500 per sq.ft, and the most recent 2024 revision has further increased it to Rs 6,000 per sq.ft. There are no figures available for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, it increased significantly by 49%. The overall change from 2012 to 2024 reflects a modest increase of 9%.

Guideline values in Arumbakkam

In Arumbakkam, there are 391 streets under the Kodambakkam SRO, with guideline values ranging from Rs 3,300 to Rs 16,500 per sq.ft. The median guideline value is Rs 6,000 per sq.ft, which is the same as the 2024 figure for M.M.D.A. Colony - P - Block - M.G.R. III Rd Street.

• M.M.D.A. Colony - P - Block - M.G.R. II Nd Street: Rs 6,000 per sq.ft (2024)
• M.M.D.A Colony -Pasumpon Street: Rs 6,000 per sq.ft (2024)
• M.M.D.A. Colony - P - Block - M.G.R. I St Street: Rs 6,000 per sq.ft (2024)
• M.M.D.A. Colony - P - Block - M.G.R. IV Th Street: Rs 6,000 per sq.ft (2024)
• M.M.D.A. Colony - O - N - N.S.K. Street: Rs 6,000 per sq.ft (2024)
• M.M.D.A. Colony - O - Block - Perumal Koil Street: Rs 6,000 per sq.ft (2024)

Stamp duty and registration fee for property in M.M.D.A. Colony - P - Block - M.G.R. III Rd 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. Together, these fees would total 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 the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers M.M.D.A. Colony - P - Block - M.G.R. III Rd Street?

The M.M.D.A. Colony - P - Block - M.G.R. III Rd 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 critical factor in property transactions in Arumbakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the buyer will need to pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

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

The current guideline value for M.M.D.A. Colony - P - Block - M.G.R. III Rd 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 5,500 per sq.ft in 2012 to Rs 3,685 per sq.ft in 2017, then to Rs 5,500 per sq.ft in 2023, and finally to Rs 6,000 per sq.ft in 2024.

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 M.M.D.A. Colony - P - Block - M.G.R. III Rd Street?

The Kodambakkam Sub Registrar Office handles registrations for M.M.D.A. Colony - P - Block - M.G.R. III Rd 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 - P - Block - M.G.R. III Rd Street is Residential Special Type - II.