Guideline Value for MMDA E- Block 7th Lane

MMDA E- Block 7th Lane guideline value

The current guideline value of MMDA E- Block 7th Lane 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 E- Block 7th Lane has changed

The guideline value for MMDA E- Block 7th Lane has seen several revisions over the years. The earliest recorded revision was in 2012, where the value was Rs 5,500 per sq.ft. This was followed by a decrease to Rs 3,685 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly by 49% to reach Rs 5,500 per sq.ft again. The most recent revision in 2024 saw another increase to Rs 6,000 per sq.ft, marking a 9% rise from the previous year.

It is important to note that there are no recorded figures for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 9%.

Guideline values in Arumbakkam

In Arumbakkam, there are 391 streets under the Kodambakkam SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 16,500 per sq.ft. The median value for these streets is Rs 6,000 per sq.ft, which is also the guideline value for MMDA E- Block 7th Lane.

• MMDA E- Block 6th Lane: Rs 6,000 per sq.ft (2024)
• MMDA E- Block 8th Lane: Rs 6,000 per sq.ft (2024)
• MMDA D Block – Samuganalakuda Street: Rs 6,000 per sq.ft (2024)
• MMDA F Block - Ambedkar Cross Street: Rs 6,000 per sq.ft (2024)
• MMDA D Block 2nd Cross: Rs 6,000 per sq.ft (2024)
• MMDA F-Block Dr.Ambedkar Street: Rs 6,000 per sq.ft (2024)

Stamp duty and registration fee for property in MMDA E- Block 7th Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 6,000 per sq.ft, the total 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, resulting in a total cost of Rs 5,40,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers MMDA E- Block 7th Lane?

The Sub Registrar Office that covers MMDA E- Block 7th Lane 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 plays a crucial role during the registration of property transactions in Arumbakkam. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold. The guideline value is established by the Registration Department and is updated periodically to reflect changes in the real estate market.

When a buyer or seller engages in a transaction, the guideline value ensures that the property is assessed fairly for taxation purposes. This value is particularly important as it serves as a benchmark for calculating the costs associated with the registration process.

Frequently asked questions

What is the current guideline value for MMDA E- Block 7th Lane?

The current guideline value for MMDA E- Block 7th Lane 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 increased 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 E- Block 7th Lane?

MMDA E- Block 7th Lane is classified as Residential Special Type - II, indicating its designated use for residential purposes.

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.

How is stamp duty calculated for properties in MMDA E- Block 7th Lane?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft property at Rs 6,000 per sq.ft would incur a stamp duty of Rs 4,20,000.