Guideline Value for MMDA F-Block Dr.Ambedkar Street

MMDA F-Block Dr.Ambedkar Street guideline value

The current guideline value for MMDA F-Block Dr.Ambedkar 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 F-Block Dr.Ambedkar Street has changed

The guideline value for MMDA F-Block Dr.Ambedkar Street has undergone several revisions over the years. In 2012, the value was set at Rs 5,500 per sq.ft, which decreased to Rs 3,685 per sq.ft in 2017. However, this figure saw a significant increase to Rs 5,500 per sq.ft in 2023, followed by the current value of Rs 6,000 per sq.ft in 2024, marking a 9% increase from the previous year. The register has no figures for the years 2002, 2003, and 2007.

Overall, from 2012 to 2024, the guideline value increased by 9%. The increase from 2017 to 2023 was notable at 49%, while the drop from 2012 to 2017 was 33%.

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 among these streets is Rs 6,000 per sq.ft, which is equal to the current guideline value of MMDA F-Block Dr.Ambedkar Street.

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

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

For a 1,000 sq.ft plot at the current rate, 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, totaling Rs 5,40,000. Duty is charged on the guideline value or the sale price, whichever is higher. For further details, you can use the stamp duty and registration fee calculator.

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

The Sub Registrar Office that covers MMDA F-Block Dr.Ambedkar 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 plays a crucial role during the registration of property transactions in Arumbakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both the buyer and seller are aware of the financial obligations involved in the property transaction.

Frequently asked questions

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

The current guideline value of MMDA F-Block Dr.Ambedkar 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 increased to Rs 5,500 per sq.ft in 2023, and is currently Rs 6,000 per sq.ft in 2024.

What is the land classification for MMDA F-Block Dr.Ambedkar Street?

MMDA F-Block Dr.Ambedkar Street is classified as Residential Special Type - II.

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

The Kodambakkam Sub Registrar Office covers MMDA F-Block Dr.Ambedkar Street, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

How is stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. This ensures that the appropriate fees are applied during the registration process.