Guideline Value for MAMBAKKAM BAJANAIKOIL STREET

Mambakkam Bajanaikoil Street guideline value

The current guideline value of Mambakkam Bajanaikoil Street is Rs 330 per sq.ft, effective from 1 July 2024. This street is located in Mambakkam village under the Madurandakam SRO, classified as Residential Class I Type - I.

How the guideline value of Mambakkam Bajanaikoil Street has changed

The guideline value for Mambakkam Bajanaikoil Street has undergone several revisions over the years. The earliest recorded figure is from 2007, set at Rs 80 per sq.ft. This value increased significantly to Rs 300 per sq.ft in 2012, marking a 275% rise. However, it then decreased to Rs 201 per sq.ft in 2017, a drop of 33%. The value saw a substantial increase to Rs 300 per sq.ft in 2023, followed by another rise to Rs 330 per sq.ft in 2024, which is a 10% increase from the previous year. The register has no figures for the years 2002 and 2003.

Overall, from 2007 to 2024, the guideline value has increased by 313%. The specific changes between the revisions include a 49% increase from 2017 to 2023 and a 10% increase from 2023 to 2024.

Guideline values in Mambakkam

Mambakkam village has a total of 26 streets under the Madurandakam SRO that carry a 2024 guideline value ranging from Rs 330 to Rs 770 per sq.ft. The median value for these streets is Rs 330 per sq.ft, which is the same as the current guideline value for Mambakkam Bajanaikoil Street.

• Mambakkam Gurukulam: Rs 330 per sq.ft (2024)
• Mambakkam Kattu Colony: Rs 330 per sq.ft (2024)
• Mariamman Koil Street,Kulakkarai: Rs 330 per sq.ft (2024)
• New Mambakkam Bajanai Koil Street: Rs 330 per sq.ft (2024)
• New Mambakkam Brammanar Street: Rs 330 per sq.ft (2024)
• New Mambakkam Sunambedu Road: Rs 385 per sq.ft (2024)

Stamp duty and registration fee for property in Mambakkam Bajanaikoil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 330 per sq.ft, the total guideline value amounts to Rs 3,30,000. The stamp duty at 7% would be Rs 23,100, and the registration fee at 2% would be Rs 6,600, making the total fees Rs 29,700. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Mambakkam Bajanaikoil Street?

The Sub Registrar Office that covers Mambakkam Bajanaikoil Street is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in property transactions in Mambakkam, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees that need to be paid at the time of registration.

It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with local regulations and to avoid any potential disputes during the transaction process. Understanding the guideline value helps in making informed decisions regarding property transactions.

Frequently asked questions

What is the current guideline value of Mambakkam Bajanaikoil Street?

The current guideline value of Mambakkam Bajanaikoil Street is Rs 330 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 80 per sq.ft in 2007 to Rs 330 per sq.ft in 2024, representing an overall increase of 313% over the years.

What are the other streets with the same guideline value in Mambakkam?

Other streets in Mambakkam that share the same guideline value of Rs 330 per sq.ft in 2024 include Mambakkam Gurukulam, Mambakkam Kattu Colony, Mariamman Koil Street,Kulakkarai, New Mambakkam Bajanai Koil Street, and New Mambakkam Brammanar Street.

What fees are associated with property transactions in Mambakkam Bajanaikoil Street?

When transacting property in Mambakkam Bajanaikoil Street, buyers must pay stamp duty at 7% and a registration fee at 2% based on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Mambakkam Bajanaikoil Street?

The Sub Registrar Office for Mambakkam Bajanaikoil Street is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.