Guideline Value for MAKKAN DHARGA GROUND

Makkan Dharga Ground guideline value

The current guideline value of Makkan Dharga Ground is Rs 3,300 per sq.ft, effective from 1 July 2024. This property is located in Mylapore village, under the Mylapore SRO, and is classified as Residential Class V Type - III.

How the guideline value of Makkan Dharga Ground has changed

The guideline value for Makkan Dharga Ground has undergone several revisions over the years. In 2002, the guideline value was Rs 612 per sq.ft, which increased to Rs 680 per sq.ft in 2003. The value then rose significantly to Rs 900 per sq.ft in 2007, followed by a substantial jump to Rs 3,000 per sq.ft in 2012. However, it decreased to Rs 2,010 per sq.ft in 2017. The value saw a notable increase to Rs 3,000 per sq.ft in 2023, and currently stands at Rs 3,300 per sq.ft as of the 2024 revision.

From 2017 to 2023, the guideline value increased by 49%. The jump from 2007 to 2012 was 233%, while the value decreased by 33% from 2012 to 2017. The overall increase from 2002 to 2024 is 439%.

Guideline values in Mylapore

Mylapore village has a total of 883 streets under the Mylapore SRO, with 2024 guideline values ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median guideline value in this area is Rs 8,800 per sq.ft, which means that the 2024 figure for Makkan Dharga Ground is below this median.

• Malaiappan Street: Rs 8,200 per sq.ft (2024)
• Maleeswaran Koil Street: Rs 9,300 per sq.ft (2024)
• Mandaveli Lane: Rs 8,800 per sq.ft (2024)
• Mandaveli Street: Rs 8,800 per sq.ft (2024)
• Manickam Avenue: Rs 8,200 per sq.ft (2024)
• Mannkollai: Rs 7,700 per sq.ft (2024)

Stamp duty and registration fee for property in Makkan Dharga Ground

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, making the total cost Rs 2,97,000. It is important to note that 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 Makkan Dharga Ground?

The Sub Registrar Office that covers Makkan Dharga Ground is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018. You can find your SRO for more information.

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

The guideline value is a critical factor during the registration of property transactions in Mylapore. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the government records.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees. It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with legal requirements during the transaction process.

Frequently asked questions

What is the current guideline value of Makkan Dharga Ground?

The current guideline value of Makkan Dharga Ground is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 612 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 439% over the years.

What is the land classification of Makkan Dharga Ground?

Makkan Dharga Ground is classified as Residential Class V Type - III.

Where can I find the Sub Registrar Office for Makkan Dharga Ground?

The Mylapore Sub Registrar Office covers Makkan Dharga Ground, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018.

How is stamp duty calculated for property in Makkan Dharga Ground?

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 guideline value would be Rs 33,00,000, with a stamp duty of Rs 2,31,000.