Guideline Value for MAHIZAKPOO ST

Mahizakpoo St guideline value

The current guideline value of Mahizakpoo St is Rs 935 per sq.ft, effective from 1 July 2024. This street is located in Vilingiyambakkam village under the Avadi Sub Registrar Office (SRO). The land classification for this area is Residential Class II Type - II.

How the guideline value of Mahizakpoo St has changed

The guideline value for Mahizakpoo St has seen several revisions over the years. The 2012 revision set the value at Rs 850 per sq.ft, which then decreased to Rs 569 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly by 49%, reaching Rs 850 per sq.ft again in 2023. The most recent revision in 2024 has raised the guideline value to Rs 935 per sq.ft, marking a 10% increase from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Vilingiyambakkam

In Vilingiyambakkam, there are 252 streets under the Avadi SRO that carry a 2024 guideline value ranging from Rs 800 to Rs 4,400 per sq.ft. The median guideline value is Rs 935 per sq.ft, which is the same as the current value for Mahizakpoo St.

• Malligai St: Rs 935 per sq.ft (2024)
• Logambal St: Rs 810 per sq.ft (2024)
• Marudam Nagar: Rs 935 per sq.ft (2024)
• Lal Bahadur Sasthiri St: Rs 810 per sq.ft (2024)
• Lakshmi Nagar: Rs 1,625 per sq.ft (2024)
• Mettu Street: Rs 800 per sq.ft (2024)

Stamp duty and registration fee for property in Mahizakpoo St

For a 1,000 sq.ft plot at the current guideline value of Rs 935 per sq.ft, the total guideline value would be Rs 9,35,000. The stamp duty at 7% would amount to Rs 65,450, and the registration fee at 2% would be Rs 18,700, leading to a total of Rs 84,150. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Mahizakpoo St?

The Mahizakpoo St falls under the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Vilingiyambakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the state receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the fair value of the property. Buyers should be aware that the stamp duty and registration fees will be calculated based on this value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Mahizakpoo St?

The current guideline value of Mahizakpoo St is Rs 935 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 850 per sq.ft in 2012 to Rs 569 per sq.ft in 2017, then back to Rs 850 per sq.ft in 2023, and finally to Rs 935 per sq.ft in 2024.

What are the other streets in Vilingiyambakkam?

Other streets in Vilingiyambakkam include Malligai St, Logambal St, Marudam Nagar, Lal Bahadur Sasthiri St, Lakshmi Nagar, and Mettu Street, with varying guideline values.

Where is the Avadi Sub Registrar Office located?

The Avadi Sub Registrar Office is located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher, while the registration fee is charged at 2% of the same. For example, for a property valued at Rs 9,35,000, the total fees would be Rs 84,150.