Guideline Value for MAMBAKKAM MAIN ROAD

Mambakkam Main Road guideline value

The current guideline value of Mambakkam Main Road is Rs 3,300 per sq.ft, effective from 1 July 2024. This road is located in Chitthalapakkam village under the Selaiyur SRO, classified as Residential Special Type - III.

How the guideline value of Mambakkam Main Road has changed

The guideline value for Mambakkam Main Road has undergone several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft. In the 2017 revision, it decreased to Rs 2,010 per sq.ft, marking a decline of 33%. However, the value significantly increased to Rs 3,000 per sq.ft in the 2023 revision and further rose to Rs 3,300 per sq.ft in the 2024 revision, reflecting a 10% increase.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2012 revision to the current 2024 figure, there has been a 10% increase. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Chitthalapakkam

In Chitthalapakkam, there are 107 streets under the Selaiyur SRO with a 2024 guideline value ranging from Rs 1,300 to Rs 5,000 per sq.ft. The median value of these streets is Rs 2,900 per sq.ft, placing Mambakkam Main Road's 2024 figure above this median.

• Manju Foundation Street Synnot: Rs 3,180 per sq.ft (2024)
• Manoranjitham Nagar: Rs 3,300 per sq.ft (2024)
• Maigai Vinayagar Koil Street: Rs 2,900 per sq.ft (2024)
• Maheswar Nagar: Rs 2,900 per sq.ft (2024)
• Madambakkam Main Road: Rs 2,850 per sq.ft (2024)
• M.G.R. Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Mambakkam Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value is Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, while the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to 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 Mambakkam Main Road?

The Sub Registrar Office that covers Mambakkam Main Road is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone.

You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Chitthalapakkam. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. This value ensures that the government receives the appropriate revenue from property transactions.

When selling property, the guideline value can also serve as a reference point for both buyers and sellers. It reflects the official valuation of the property and helps in negotiations during the sale process.

Frequently asked questions

What is the current guideline value of Mambakkam Main Road?

The current guideline value of Mambakkam Main Road 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 seen several revisions, increasing from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024. It was Rs 2,010 per sq.ft in 2017 and Rs 3,000 per sq.ft in 2012.

What is the land classification for Mambakkam Main Road?

Mambakkam Main Road is classified as Residential Special Type - III, indicating its designated use for residential purposes.

Where can I find the registration office for Mambakkam Main Road?

The Selaiyur Sub Registrar Office covers Mambakkam Main Road, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

How is the stamp duty calculated for property in Mambakkam Main Road?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 33,00,000 would incur a stamp duty of Rs 2,31,000 at 7%.