Guideline Value for MMDA D Block 2nd Cross

MMDA D Block 2nd Cross guideline value

The current guideline value of MMDA D Block 2nd Cross is Rs 6,000 per sq.ft, effective from 1 July 2024. This property is located in Arumbakkam village, under the Kodambakkam SRO, and is classified as Residential Special Type - II.

How the guideline value of MMDA D Block 2nd Cross has changed

The guideline value for MMDA D Block 2nd Cross has undergone several revisions over the years. The earliest available figure is from 2012, where the value was Rs 5,500 per sq.ft. This figure remained the same in the 2012 revision but saw a decrease to Rs 3,685 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 5,500 per sq.ft in the 2023 revision, and then rose again to Rs 6,000 per sq.ft in the 2024 revision, marking a 9% increase from the previous year.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. Overall, from the 2012 revision to the current 2024 revision, the guideline value has increased by 9%. It is important to note that the register has no figures 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 is equal to the current value for MMDA D Block 2nd Cross.

• MMDA D Block 1st Cross: Rs 6,000 per sq.ft (2024)
• MMDA D Block – Samuganalakuda Street: Rs 6,000 per sq.ft (2024)
• M.M.D.A Colony -Vallalar Street: Rs 6,000 per sq.ft (2024)
• MMDA E- Block 6th Lane: Rs 6,000 per sq.ft (2024)
• M.M.D.A. Colony - Thirupoor Kumaran Street: Rs 6,000 per sq.ft (2024)
• MMDA E- Block 7th Lane: Rs 6,000 per sq.ft (2024)

Stamp duty and registration fee for property in MMDA D Block 2nd Cross

For a 1,000 sq.ft plot at the current guideline value of Rs 6,000 per sq.ft, the total guideline value would be 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 fees to Rs 5,40,000. 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 MMDA D Block 2nd Cross?

The MMDA D Block 2nd Cross is covered by the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for further assistance.

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

The guideline value is a crucial factor when buying or selling property in Arumbakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable during the transaction. Buyers and sellers must consider this value to ensure compliance with local regulations.

When registering a property, the guideline value helps establish the minimum value on which the stamp duty is calculated. This ensures that all transactions are recorded at a fair value, reflecting the property's worth as determined by the local authorities.

Frequently asked questions

What is the current guideline value of MMDA D Block 2nd Cross?

The current guideline value of MMDA D Block 2nd Cross is Rs 6,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 5,500 per sq.ft in 2012 to Rs 3,685 per sq.ft in 2017, then back to Rs 5,500 per sq.ft in 2023, and finally to Rs 6,000 per sq.ft in 2024.

What is the land classification for MMDA D Block 2nd Cross?

The land classification for MMDA D Block 2nd Cross is Residential Special Type - II.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 60,00,000 would incur a stamp duty of Rs 4,20,000 at a rate of 7%.

Where can I find the Kodambakkam Sub Registrar Office?

The Kodambakkam Sub Registrar Office is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find more information through the provided link.