Guideline Value for MMDA F Block - Ambedkar Cross Street

MMDA F Block - Ambedkar Cross Street guideline value

The current guideline value of MMDA F Block - Ambedkar Cross Street is Rs 6,000 per sq.ft, effective from 1 July 2024. This street is located in Arumbakkam village and falls under the Kodambakkam SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of MMDA F Block - Ambedkar Cross Street has changed

The guideline value for MMDA F Block - Ambedkar Cross Street has seen several revisions over the years. The 2012 revision set the value at Rs 5,500 per sq.ft, which was later reduced 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 finally to Rs 6,000 per sq.ft in the 2024 revision, marking a 9% increase from the previous year. It is worth noting that there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 9%. The transition from 2017 to 2023 saw a notable increase of 49%, while the value dropped by 33% from 2012 to 2017.

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 for these streets is Rs 6,000 per sq.ft, which is the same as the guideline value for MMDA F Block - Ambedkar Cross Street. Below are some other streets in Arumbakkam:

• MMDA E- Block 8th Lane: Rs 6,000 per sq.ft (2024)
• MMDA F-Block Dr.Ambedkar Street: Rs 6,000 per sq.ft (2024)
• MMDA E- Block 7th Lane: Rs 6,000 per sq.ft (2024)
• MMDA G – Block 1st Lane: Rs 6,000 per sq.ft (2024)
• MMDA E- Block 6th Lane: Rs 6,000 per sq.ft (2024)
• MMDA G Block - Vallalar Street: Rs 6,000 per sq.ft (2024)

Stamp duty and registration fee for property in MMDA F Block - Ambedkar Cross Street

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 amount to Rs 4,20,000, and the registration fee at 2% would be Rs 1,20,000, bringing the total cost for these fees to 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 more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers MMDA F Block - Ambedkar Cross Street?

The MMDA F Block - Ambedkar Cross Street 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 more assistance.

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 stamp duty and registration fees applicable to the transaction. Buyers and sellers must consider this value to ensure compliance with legal requirements during property transactions.

When a property is registered, the guideline value is compared to the sale price to determine the applicable fees. The higher of the two values is used to calculate the stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of MMDA F Block - Ambedkar Cross Street?

The current guideline value of MMDA F Block - Ambedkar Cross Street 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 F Block - Ambedkar Cross Street?

The land classification for MMDA F Block - Ambedkar Cross Street is Residential Special Type - II.

Where is the Kodambakkam Sub Registrar Office located?

The Kodambakkam Sub Registrar Office is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

How is the stamp duty calculated for properties in MMDA F Block - Ambedkar Cross Street?

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