Guideline Value for MMDA H - BLOCK - THIRUMAGAL STREET

Mmda H - Block - Thirumagal Street guideline value

The current guideline value of Mmda H - Block - Thirumagal Street is Rs 6,000 per sq.ft, effective from 1 July 2024. This street is located in Arumbakkam village, under the Kodambakkam SRO, and is classified as Residential Special Type - II.

How the guideline value of Mmda H - Block - Thirumagal Street has changed

The guideline value for Mmda H - Block - Thirumagal Street has undergone several revisions over the years. In 2012, the value was set at Rs 5,500 per sq.ft. This figure remained unchanged until the next revision in 2017, where it dropped to Rs 3,685 per sq.ft, marking a decrease of 33%. The value then increased significantly to Rs 5,500 per sq.ft in 2023, followed by another increase to Rs 6,000 per sq.ft in 2024, which represents a 9% rise from the previous year.

From 2017 to 2023, the guideline value saw a substantial increase of 49%. Overall, from 2012 to 2024, the value has increased by 9%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street.

Guideline values in Arumbakkam

In Arumbakkam, there are 391 streets under the Kodambakkam SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 16,500 per sq.ft. The median guideline value for these streets is Rs 6,000 per sq.ft, which matches the current value for Mmda H - Block - Thirumagal Street.

• MMDA G Block - Vallalar Street: Rs 6,000 per sq.ft (2024)
• MMDA N Block –Bagatsing 1st Street: Rs 6,000 per sq.ft (2024)
• MMDA G – Block 1st Lane: Rs 6,000 per sq.ft (2024)
• MMDA N Block –Bagatsing 2nd Street: Rs 6,000 per sq.ft (2024)
• MMDA F-Block Dr.Ambedkar Street: Rs 6,000 per sq.ft (2024)
• MMDA N Block –Bagatsing 3rd Street: Rs 6,000 per sq.ft (2024)

Stamp duty and registration fee for property in Mmda H - Block - Thirumagal Street

For a 1,000 sq.ft plot at the current rate of Rs 6,000 per sq.ft, the guideline value amounts to Rs 60,00,000. The stamp duty at 7% would be Rs 4,20,000, and the registration fee at 2% would be Rs 1,20,000, bringing the total to Rs 5,40,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Mmda H - Block - Thirumagal Street?

The Sub Registrar Office that covers Mmda H - Block - Thirumagal Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Arumbakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value as per the government regulations.

When registering a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This means that understanding the guideline value is essential for both buyers and sellers to ensure compliance with the legal requirements during the transaction.

Frequently asked questions

What is the current guideline value of Mmda H - Block - Thirumagal Street?

The current guideline value of Mmda H - Block - Thirumagal Street is Rs 6,000 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed several times, with the most recent increase from Rs 5,500 per sq.ft in 2023 to Rs 6,000 per sq.ft in 2024, a rise of 9%. Overall, from 2012 to 2024, the value has increased by 9% as well.

What is the land classification of Mmda H - Block - Thirumagal Street?

Mmda H - Block - Thirumagal Street is classified as Residential Special Type - II under the Kodambakkam SRO.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office for Mmda H - Block - Thirumagal Street is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

How is the stamp duty calculated for property in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 60,00,000, the stamp duty would be calculated at 7% of that amount.