Guideline Value for MMDA N Block –Bagatsing 3rd Street

MMDA N Block –Bagatsing 3rd Street guideline value

The current guideline value of MMDA N Block –Bagatsing 3rd Street is Rs 6,000 per sq.ft, effective from 1 July 2024. This street is located in Arumbakkam village under the Kodambakkam SRO, classified as Residential Special Type - II.

How the guideline value of MMDA N Block –Bagatsing 3rd Street has changed

The guideline value for MMDA N Block –Bagatsing 3rd Street has undergone several revisions over the years. The 2012 revision set the value at Rs 5,500 per sq.ft, which then decreased to Rs 3,685 per sq.ft in the 2017 revision. Following this, the value increased to Rs 5,500 per sq.ft in 2023, and finally to Rs 6,000 per sq.ft in the 2024 revision, marking a 9% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 9%. The changes between the revisions are as follows: from 2017 to 2023, there was a significant increase of 49%, while the 2012 to 2017 period saw a decrease of 33%. There are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Arumbakkam

In Arumbakkam, there are 391 streets under the Kodambakkam SRO, with guideline values ranging from Rs 3,300 to Rs 16,500 per sq.ft. The median value is Rs 6,000 per sq.ft, which is equal to the 2024 figure for MMDA N Block –Bagatsing 3rd Street.

• MMDA N Block –Bagatsing 2nd Street: Rs 6,000 per sq.ft (2024)
• MMDA P – Block M.G.R 5th Street: Rs 6,000 per sq.ft (2024)
• MMDA N Block –Bagatsing 1st Street: Rs 6,000 per sq.ft (2024)
• MMDA P Block M.G.R. Street (or) M.G.R.Main Road: Rs 6,000 per sq.ft (2024)
• Mmda H - Block - Thirumagal Street: 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 N Block –Bagatsing 3rd Street

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, bringing the total to Rs 5,40,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers MMDA N Block –Bagatsing 3rd Street?

The MMDA N Block –Bagatsing 3rd Street 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 details.

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

The guideline value is a crucial factor during the registration of property transactions in Arumbakkam. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives due revenue from property transactions.

When buying or selling property, the guideline value serves as a benchmark, and it is essential for both buyers and sellers to be aware of these values to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of MMDA N Block –Bagatsing 3rd Street?

The current guideline value of MMDA N Block –Bagatsing 3rd 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 seen various changes: from Rs 5,500 per sq.ft in 2012 to Rs 3,685 per sq.ft in 2017, then increasing to Rs 5,500 per sq.ft in 2023, and finally reaching Rs 6,000 per sq.ft in 2024.

What is the land classification for MMDA N Block –Bagatsing 3rd Street?

The land classification for MMDA N Block –Bagatsing 3rd Street is Residential Special Type - II.

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 the stamp duty calculated for properties in Arumbakkam?

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