Guideline Value for M.V.City

M.V.City guideline value

The current guideline value for M.V.City in Ayappakkam village is Rs 1,600 per sq.ft, effective from the 2024 revision. This area falls under the Ambattur Sub Registrar Office (SRO) and is classified as Residential Special Type - III.

How the guideline value of M.V.City has changed

Over the years, the guideline value for M.V.City has undergone several revisions. The register shows no figures for the years 2002, 2003, 2007, 2012, and 2017. The 2023 revision set the guideline value at Rs 1,500 per sq.ft, which was then increased to Rs 1,600 per sq.ft in the 2024 revision, marking a change of +7%.

In summary, the guideline value has increased from Rs 1,500 per sq.ft in 2023 to Rs 1,600 per sq.ft in 2024. This increase reflects the ongoing adjustments made in the guideline values across various regions.

Guideline values in Ayappakkam

In Ayappakkam, there are 221 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 4,000 per sq.ft. The median value for these streets is Rs 1,300 per sq.ft, placing M.V.City's 2024 figure above that median.

• Murugan Koil Street (Iyappan nagar): Rs 1,700 per sq.ft (2024)
• Murugan Koil 2nd Cross Street (Iyappan nagar): Rs 1,700 per sq.ft (2024)
• Murugan Koil 1st Cross Street (Iyappan nagar): Rs 1,700 per sq.ft (2024)
• Mullai Street (Iyappan nagar extn.): Rs 1,700 per sq.ft (2024)
• Mullai street: Rs 1,700 per sq.ft (2024)
• Mullai Nagar: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in M.V.City

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total to Rs 1,44,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers M.V.City?

The Sub Registrar Office that covers M.V.City is 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 information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Ayappakkam. 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 taxes and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of M.V.City?

The current guideline value of M.V.City in Ayappakkam village is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for M.V.City has changed from Rs 1,500 per sq.ft in 2023 to Rs 1,600 per sq.ft in 2024, marking a +7% increase. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What is the median guideline value in Ayappakkam?

The median guideline value for the 221 streets in Ayappakkam is Rs 1,300 per sq.ft. M.V.City's current guideline value is above this median.

What are the stamp duty and registration fees for a property in M.V.City?

For a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000 and the registration fee would be Rs 32,000, totaling Rs 1,44,000. These fees are based on the higher of the guideline value or the sale price.

Which office is responsible for property registration in M.V.City?

The Ambattur Sub Registrar Office is responsible for property registration in M.V.City. It is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur- 600 053, Chennai registration zone.