Guideline Value for MG THENNAMAM BANK EXTENSION III

Mg Thennamam Bank Extension III guideline value

The current guideline value for Mg Thennamam Bank Extension III is Rs 750 per sq.ft. This property is located in Walajabad village, under the Walajabad SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Mg Thennamam Bank Extension III has changed

The guideline value has seen several revisions over the years. In 2012, the value was set at Rs 750 per sq.ft, which remained unchanged until the next revision in 2017, where it decreased to Rs 502 per sq.ft. This was a decrease of 33%. However, from 2017 to 2023, the value increased significantly by 49%, bringing it back to Rs 750 per sq.ft. The most recent revision in 2024 has kept the value consistent at Rs 750 per sq.ft, showing no change from the previous year.

It is important to note that the register does not have figures for the years 2002, 2003, and 2007 for this street. Therefore, the only revisions relevant to the guideline value of Mg Thennamam Bank Extension III are from 2012, 2017, 2023, and 2024.

Guideline values in Walajabad

In Walajabad village, there are 196 streets under the Walajabad SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 2,000 per sq.ft. The median guideline value for these streets is Rs 750 per sq.ft, which matches the current value for Mg Thennamam Bank Extension III.

• Mettushop St: Rs 750 per sq.ft (2024)
• Mugammathu Ibrahim Street: Rs 750 per sq.ft (2024)
• Muhamadiyar Street: Rs 750 per sq.ft (2024)
• Mukaaniyamman Melandai Srteet: Rs 750 per sq.ft (2024)
• Mukkiyamman Kovil St: Rs 750 per sq.ft (2024)
• Meglinpuram: Rs 750 per sq.ft (2024)

Stamp duty and registration fee for property in Mg Thennamam Bank Extension III

For a 1,000 sq.ft plot at the current guideline value of Rs 750 per sq.ft, the total guideline value would be Rs 7,50,000. The stamp duty at 7% would amount to Rs 52,500, and the registration fee at 2% would be Rs 15,000, making the total charges Rs 67,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Mg Thennamam Bank Extension III?

The Sub Registrar Office that covers Mg Thennamam Bank Extension III is the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Walajabad. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Mg Thennamam Bank Extension III?

The current guideline value for Mg Thennamam Bank Extension III is Rs 750 per sq.ft, effective from July 1, 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 750 per sq.ft in 2023 and 2024, while it was Rs 502 per sq.ft in 2017 and Rs 750 per sq.ft in 2012. There were no figures available for the years 2002, 2003, and 2007.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 7,50,000, the stamp duty would be Rs 52,500, and the registration fee would be Rs 15,000, totaling Rs 67,500. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles registrations for Mg Thennamam Bank Extension III?

The Walajabad Sub Registrar Office handles registrations for Mg Thennamam Bank Extension III. It is located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone.

What is the land classification for Mg Thennamam Bank Extension III?

Mg Thennamam Bank Extension III is classified as Residential Class IV Type - I, indicating its suitability for residential development within the area.