Guideline Value for M.M.D.A. COLONY - Q - BLOCK - THIRUKURALAR STREET

M.M.D.A. Colony - Q - Block - Thirukuralar Street guideline value

The current guideline value for M.M.D.A. Colony - Q - Block - Thirukuralar 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 - Q - Block - Thirukuralar Street has changed

Over the years, the guideline value for M.M.D.A. Colony - Q - Block - Thirukuralar Street has undergone several revisions. The earliest recorded figure is from 2007, where the guideline value was Rs 1,250 per sq.ft. This increased significantly to Rs 5,500 per sq.ft in 2012, representing a 340% rise. However, it then decreased to Rs 3,685 per sq.ft in 2017, marking a 33% drop. The value saw a substantial increase again to Rs 5,500 per sq.ft in 2023, which was a 49% rise. The current revision in 2024 has set the guideline value at Rs 6,000 per sq.ft, reflecting a 9% increase from the previous year.

It is important to note that there are no recorded figures for the years 2002 and 2003 for this street. 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 with a 2024 guideline value ranging from Rs 3,300 to Rs 16,500 per sq.ft. The median guideline value for these streets is Rs 6,000 per sq.ft, which is equal to the current guideline value of M.M.D.A. Colony - Q - Block - Thirukuralar Street. Below are the guideline values for other streets in Arumbakkam:

• M.M.D.A. Colony- P - Q - Pasumpon Street: Rs 6,000 per sq.ft (2024)
• M.M.D.A. Colony - Post Office Street: Rs 6,000 per sq.ft (2024)
• M.M.D.A. Colony Q - Block - Tholkappiar Street: Rs 6,000 per sq.ft (2024)
• M.M.D.A. Colony - P - Block - Post Office Street: Rs 6,000 per sq.ft (2024)
• M.M.D.A. Colony Q - P - Kannadasan 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)

Stamp duty and registration fee for property in M.M.D.A. Colony - Q - Block - Thirukuralar Street

For a property measuring 1,000 sq.ft 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 is charged at 7%, amounting to Rs 4,20,000, while the registration fee is 2%, totaling Rs 1,20,000. Therefore, the total cost for stamp duty and registration fees would be Rs 5,40,000. It is important to note that the duty is charged on the higher of the guideline value and 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 - Q - Block - Thirukuralar Street?

The M.M.D.A. Colony - Q - Block - Thirukuralar 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 details.

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

The guideline value plays a crucial role in property transactions in Arumbakkam. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees, which are mandatory costs involved in the transaction. This ensures that the government receives revenue based on the official valuation of the property.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly affects the costs associated with property registration. Accurate knowledge of these values can help in budgeting for the overall expenses during the buying or selling process.

Frequently asked questions

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

The current guideline value of M.M.D.A. Colony - Q - Block - Thirukuralar 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 seen several revisions, starting from Rs 1,250 per sq.ft in 2007, rising to Rs 5,500 in 2012, then decreasing to Rs 3,685 in 2017, and increasing again to Rs 5,500 in 2023. The current value is Rs 6,000 per sq.ft as of 2024.

What is the land classification for this street?

The land classification for M.M.D.A. Colony - Q - Block - Thirukuralar Street is Residential Special Type - II.

Where can I find the registration office for this area?

The registration office for M.M.D.A. Colony - Q - Block - Thirukuralar 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 this area?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is also applicable based on the guideline value.