Guideline Value for MMDA G Block - Vallalar Street

MMDA G Block - Vallalar Street guideline value

The current guideline value of MMDA G Block - Vallalar 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 the land classification is Residential Special Type - II.

How the guideline value of MMDA G Block - Vallalar Street has changed

The guideline value for MMDA G Block - Vallalar Street has undergone several revisions over the years. The earliest recorded revision was in 2012, where the guideline value was set at Rs 5,500 per sq.ft. This was followed by a decrease to Rs 3,685 per sq.ft in the 2017 revision. In 2023, the value increased to Rs 5,500 per sq.ft, and the most recent revision in 2024 has set the value at Rs 6,000 per sq.ft. The register has no figures for the years 2002, 2003, and 2007.

Between the revisions, there have been notable changes. From 2017 to 2023, the guideline value increased by 49%, while from 2023 to 2024, it rose by 9%. 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 guideline value is Rs 6,000 per sq.ft, which is equal to the current value of MMDA G Block - Vallalar Street.

• MMDA G – Block 1st Lane: Rs 6,000 per sq.ft (2024)
• Mmda H - Block - Thirumagal Street: Rs 6,000 per sq.ft (2024)
• MMDA F-Block Dr.Ambedkar Street: Rs 6,000 per sq.ft (2024)
• MMDA N Block –Bagatsing 1st Street: Rs 6,000 per sq.ft (2024)
• MMDA F Block - Ambedkar Cross Street: Rs 6,000 per sq.ft (2024)
• MMDA N Block –Bagatsing 2nd Street: Rs 6,000 per sq.ft (2024)

Stamp duty and registration fee for property in MMDA G Block - Vallalar 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, resulting in a total of 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. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers MMDA G Block - Vallalar Street?

The MMDA G Block - Vallalar 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 information.

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

The guideline value is a critical 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. The guideline value ensures that the property is assessed fairly for taxation purposes.

When a property is sold, the sale price is compared to the guideline value. The higher of the two is used to calculate the stamp duty and registration fees, which are mandatory charges that must be paid at the time of registration. This process helps maintain transparency in property transactions.

Frequently asked questions

What is the current guideline value of MMDA G Block - Vallalar Street?

The current guideline value of MMDA G Block - Vallalar 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 G Block - Vallalar Street?

The land classification for MMDA G Block - Vallalar Street is Residential Special Type - II.

What are the stamp duty and registration fees for properties in this area?

For a 1,000 sq.ft plot valued at Rs 6,000 per sq.ft, the total guideline value would be Rs 60,00,000. The stamp duty would be Rs 4,20,000, and the registration fee would be Rs 1,20,000, totaling Rs 5,40,000.

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.