Guideline Value for M.M.D.A. COLONY - POST OFFICE STREET

M.M.D.A. Colony - Post Office Street guideline value

The current guideline value of M.M.D.A. Colony - Post Office 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 it falls under the Residential Special Type - II land classification.

How the guideline value of M.M.D.A. Colony - Post Office Street has changed

The guideline value for M.M.D.A. Colony - Post Office Street has seen several revisions over the years. In 2007, the value was Rs 1,250 per sq.ft, which increased to Rs 5,500 per sq.ft in 2012. However, there was a significant drop to Rs 3,685 per sq.ft in 2017. The value then rose to Rs 5,500 per sq.ft in 2023, before reaching the current figure of Rs 6,000 per sq.ft in 2024. The register has no figure for this street for the years 2002 and 2003.

From 2017 to 2023, the guideline value increased by 49%, while the jump from 2023 to 2024 was 9%. Notably, the value saw an impressive rise of 340% from 2007 to 2012, followed by a decrease of 33% from 2012 to 2017. 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 that carry 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 equal to the guideline value for M.M.D.A. Colony - Post Office Street.

• M.M.D.A. Colony - P - Block - Post Office Street: Rs 6,000 per sq.ft (2024)
• M.M.D.A. Colony- P - Q - Pasumpon Street: Rs 6,000 per sq.ft (2024)
• M.M.D.A. Colony - P - Block - M.G.R. Street: Rs 6,000 per sq.ft (2024)
• M.M.D.A. Colony - Q - Block - Thirukuralar 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 - P - Block - M.G.R. I St Street: Rs 6,000 per sq.ft (2024)

Stamp duty and registration fee for property in M.M.D.A. Colony - Post Office 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, making the total charges Rs 5,40,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers M.M.D.A. Colony - Post Office Street?

The M.M.D.A. Colony - Post Office Street is covered by 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 during the registration process when buying or selling property in Arumbakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue based on the property's value at the time of sale.

Frequently asked questions

What is the current guideline value of M.M.D.A. Colony - Post Office Street?

The current guideline value of M.M.D.A. Colony - Post Office 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 this period.

What is the land classification for M.M.D.A. Colony - Post Office Street?

The land classification for M.M.D.A. Colony - Post Office Street is Residential Special Type - II.

Where can I find the registration office for M.M.D.A. Colony - Post Office Street?

The registration office for M.M.D.A. Colony - Post Office Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

How is the stamp duty calculated for properties in M.M.D.A. Colony - Post Office Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 60,00,000, the stamp duty would be Rs 4,20,000 at a rate of 7%.