Guideline Value for MMDA E- Block 8th Lane

MMDA E- Block 8th Lane guideline value

The current guideline value of MMDA E- Block 8th Lane is Rs 6,000 per sq.ft, effective from 1 July 2024. This street is located in Arumbakkam village under the Kodambakkam Sub Registrar Office (SRO) and is classified as Residential Special Type - II.

How the guideline value of MMDA E- Block 8th Lane has changed

Over the years, the guideline value for MMDA E- Block 8th Lane has seen several revisions. The register shows no figures for the years 2002, 2003, and 2007. In 2012, the guideline value was Rs 5,500 per sq.ft, which then decreased to Rs 3,685 per sq.ft in 2017, marking a decline of 33%. Following this, the value increased significantly to Rs 5,500 per sq.ft in 2023, and then to Rs 6,000 per sq.ft in 2024, representing a 9% increase from the previous year.

From 2017 to 2023, the value increased by 49%. Overall, from 2012 to 2024, there has been a 9% increase in the guideline value 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 value is Rs 6,000 per sq.ft, which is the same as the current guideline value for MMDA E- Block 8th Lane.

• MMDA E- Block 7th Lane: Rs 6,000 per sq.ft (2024)
• MMDA F Block - Ambedkar Cross Street: Rs 6,000 per sq.ft (2024)
• MMDA E- Block 6th Lane: Rs 6,000 per sq.ft (2024)
• MMDA F-Block Dr.Ambedkar Street: Rs 6,000 per sq.ft (2024)
• MMDA D Block – Samuganalakuda Street: Rs 6,000 per sq.ft (2024)
• MMDA G – Block 1st Lane: Rs 6,000 per sq.ft (2024)

Stamp duty and registration fee for property in MMDA E- Block 8th 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, totaling 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 E- Block 8th Lane?

The MMDA E- Block 8th Lane falls under 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 property transactions in Arumbakkam. It serves as a benchmark for determining the minimum price at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with legal requirements during the registration process.

When registering a property, the guideline value influences the calculation of stamp duty and registration fees, which are based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for MMDA E- Block 8th Lane?

The current guideline value for MMDA E- Block 8th 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 8th Lane?

MMDA E- Block 8th Lane is classified as Residential Special Type - II under the Kodambakkam SRO.

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 8th Lane?

Stamp duty is calculated at 7% of 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 Rs 4,20,000.