Guideline Value for M.T.H. Road

M.T.H. Road guideline value

The current guideline value of M.T.H. Road in Mugappair village, under the Konnur SRO, is Rs 7,100 per sq.ft, effective from 1 July 2024. This street falls under the Residential Special Type - I land classification.

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

The guideline value for M.T.H. Road has undergone several revisions over the years. In 2002, the guideline value was Rs 423 per sq.ft, which increased to Rs 465 per sq.ft in 2003. Following this, a significant rise occurred, with the value reaching Rs 1,200 per sq.ft in 2007, and then it further increased to Rs 6,500 per sq.ft in 2012. However, there was a decline to Rs 4,355 per sq.ft in 2017. The value then rose to Rs 6,500 per sq.ft in 2023 before reaching the current figure of Rs 7,100 per sq.ft in 2024.

Analyzing the changes between these revisions, from 2002 to 2003, there was a 10% increase. The value surged by 158% from 2003 to 2007. The increase from 2007 to 2012 was 442%, while the value dropped by 33% from 2012 to 2017. The guideline value then saw a 49% increase from 2017 to 2023, and finally, there was a 9% increase from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by 1578%.

Guideline values in Mugappair

In Mugappair, there are 224 streets under the Konnur SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 8,800 per sq.ft. The median value is Rs 7,100 per sq.ft, which is equal to the current guideline value of M.T.H. Road.

• Mullai Colony: Rs 7,100 per sq.ft (2024)
• Mohanram Nagar: Rs 7,100 per sq.ft (2024)
• Mogappair Vennus Street: Rs 3,300 per sq.ft (2024)
• Mogappair School Street (Mogappair East): Rs 7,100 per sq.ft (2024)
• Mogappair Road Segment - 4 (End of the Srinivasa Nagar and near Madhiyazhagan Nagar): Rs 7,100 per sq.ft (2024)
• Mogappair Road Segment - 3 (Wavin to Mogappair Road West Water Tank): Rs 7,100 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 rate, the guideline value amounts to Rs 71,00,000. The stamp duty at 7% would be Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000, totaling Rs 6,39,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

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

The Sub Registrar Office that covers M.T.H. Road is the Konnur Sub Registrar Office, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more information.

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

The guideline value is an essential factor during the registration of property transactions in Mugappair. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property.

When buying or selling property, the guideline value serves as a benchmark for the minimum value that can be considered for registration. This ensures that the property is registered at a value that reflects the current market conditions as specified by the government.

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 7,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 423 per sq.ft in 2002 to Rs 7,100 per sq.ft in 2024, reflecting an overall increase of 1578% over this period.

What is the land classification for M.T.H. Road?

M.T.H. Road is classified as Residential Special Type - I, which influences its guideline value and usage.

Where can I find the Sub Registrar Office for M.T.H. Road?

The Konnur Sub Registrar Office, which covers M.T.H. Road, is located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total stamp duty and registration fees would amount to Rs 6,39,000.