Guideline Value for M.T.H. Road

M.T.H. Road guideline value

The current guideline value of M.T.H. Road in Thirumullaivoyal village, under the Ambattur SRO, is Rs 5,500 per sq.ft, effective from 1 July 2024. This road is classified as Commercial Class I Type - I.

How the guideline value of M.T.H. Road has changed

The guideline value for M.T.H. Road has seen several revisions over the years. In 2002, the value was Rs 224 per sq.ft, which increased significantly to Rs 400 per sq.ft in 2003, marking a 79% rise. This upward trend continued, with the value reaching Rs 1,500 per sq.ft in 2007, a substantial increase of 275%. The value then experienced a remarkable jump to Rs 5,000 per sq.ft in 2012, reflecting a 233% increase from the previous revision. However, it decreased to Rs 3,350 per sq.ft in 2017, a decline of 33%.

From 2017 to 2023, the guideline value increased by 49%, bringing it to Rs 5,000 per sq.ft. The most recent revision in 2024 set the value at Rs 5,500 per sq.ft, marking a 10% increase from the previous year. There are no figures available for revisions in years other than those mentioned.

Guideline values in Thirumullaivoyal

In Thirumullaivoyal, there are 975 streets under the Ambattur SRO, with guideline values ranging from Rs 880 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,400 per sq.ft, positioning M.T.H. Road's 2024 figure above this median.

• Mullai Nagar: Rs 1,300 per sq.ft (2024)
• Mullai Nagar Extn: Rs 1,300 per sq.ft (2024)
• Mullai Street (Sri Sakthi Nagar): Rs 2,400 per sq.ft (2024)
• Moorthy Street (Ambedkar Nagar): Rs 1,100 per sq.ft (2024)
• Moorthy Nagar Main Road: Rs 1,100 per sq.ft (2024)
• Moorthy Nagar 3rd Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in M.T.H. Road

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total fees to Rs 4,95,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers M.T.H. Road?

The M.T.H. Road falls under the jurisdiction of the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a critical factor in the registration process when buying or selling property in Thirumullaivoyal. It serves as a benchmark to determine the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. Buyers must pay these fees based on the higher of the guideline value or the actual sale price, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of M.T.H. Road?

The current guideline value of M.T.H. Road is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 224 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, reflecting a total increase of 2,355% over the years.

What is the registration office for M.T.H. Road?

The registration office for M.T.H. Road is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is the stamp duty calculated for properties on M.T.H. Road?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000.

What are the other streets in Thirumullaivoyal with guideline values?

Other streets in Thirumullaivoyal include Mullai Nagar and Mullai Nagar Extn at Rs 1,300 per sq.ft, and Mullai Street (Sri Sakthi Nagar) at Rs 2,400 per sq.ft, among others.