Guideline Value for M.M.T.C. Venkatachalam Street

M.M.T.C. Venkatachalam Street guideline value

The current guideline value of M.M.T.C. Venkatachalam Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Thalakanancherry village, under the Alandur SRO, and is classified as Residential Class I Type - II.

How the guideline value of M.M.T.C. Venkatachalam Street has changed

The guideline value for M.M.T.C. Venkatachalam Street has seen several changes over the years. In the 2007 revision, the value was Rs 1,700 per sq.ft. This increased significantly to Rs 4,000 per sq.ft in the 2012 revision, marking a rise of 135%. However, it then decreased to Rs 2,680 per sq.ft in the 2017 revision, a drop of 33%. The value rebounded to Rs 4,000 per sq.ft in the 2023 revision, and most recently, it has risen to Rs 4,400 per sq.ft in the 2024 revision, reflecting a 10% increase.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 159%. The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Thalakanancherry

In Thalakanancherry village, there are 318 streets under the Alandur SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 3,900 per sq.ft, placing M.M.T.C. Venkatachalam Street's 2024 figure above this median.

• M.M.T.C. pongi madayalam street: Rs 4,400 per sq.ft (2024)
• M.M.T.C. Eashwaran colony: Rs 4,400 per sq.ft (2024)
• M.M.T.C. Colony Madipakkam Koot Road: Rs 4,400 per sq.ft (2024)
• M.M.T.C. Colony Kamarajar Nagar: Rs 4,400 per sq.ft (2024)
• M.M.T.C. Colony 2nd Cross Street: Rs 4,400 per sq.ft (2024)
• M.M.T.C. Colony: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in M.M.T.C. Venkatachalam Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total cost for these fees to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers M.M.T.C. Venkatachalam Street?

The Sub Registrar Office that covers M.M.T.C. Venkatachalam Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when registering property transactions in Thalakanancherry. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, the guideline value serves as a reference point for both buyers and sellers. It is essential to be aware of the current guideline value to understand the financial implications of the transaction, including the fees that will be incurred during registration.

Frequently asked questions

What is the current guideline value of M.M.T.C. Venkatachalam Street?

The current guideline value of M.M.T.C. Venkatachalam Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,700 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 159% over the years.

What is the land classification for M.M.T.C. Venkatachalam Street?

M.M.T.C. Venkatachalam Street is classified as Residential Class I Type - II.

Where is the Alandur Sub Registrar Office located?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is stamp duty calculated for properties in Thalakanancherry?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, on a property with a guideline value of Rs 44,00,000, the stamp duty would be Rs 3,08,000 at a rate of 7%.