Guideline Value for MMDA Wholesale Market

MMDA Wholesale Market guideline value

The current guideline value of the MMDA Wholesale Market in Koyakbedu village is Rs 7,700 per sq.ft, effective from 1 July 2024. This area falls under the AnnaNagar SRO and is classified as Mixed Type - II land.

How the guideline value of MMDA Wholesale Market has changed

Over the years, the guideline value for the MMDA Wholesale Market has seen several revisions. The earliest recorded figure is from 2007, where the value was Rs 1,500 per sq.ft. This increased significantly to Rs 7,000 per sq.ft in 2012, marking a substantial rise of 367%. However, the value then decreased to Rs 4,690 per sq.ft in 2017, a drop of 33%. The most recent revisions show a rise to Rs 7,000 per sq.ft in 2023 and then to Rs 7,700 per sq.ft in 2024, which is a 10% increase.

From 2017 to 2023, there was a notable increase of 49%. Overall, from 2007 to 2024, the guideline value has increased by 413%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Koyakbedu

In Koyakbedu, there are 270 streets under the AnnaNagar SRO, with guideline values ranging from Rs 2,200 to Rs 16,500 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, placing the MMDA Wholesale Market's 2024 figure above that median.

• Mmda Wholesale Market A Road: Rs 7,700 per sq.ft (2024)
• M.M.D.A. Whole Sale Market Shop No.TD 89 only: Rs 7,700 per sq.ft (2024)
• Mullai Street Brindavan Nagar: Rs 4,400 per sq.ft (2024)
• Mettu Kulam: Rs 2,200 per sq.ft (2024)
• Nadu Street (Centre Street): Rs 3,300 per sq.ft (2024)
• Mannady Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in MMDA Wholesale Market

For a 1,000 sq.ft plot at the current guideline value of Rs 7,700 per sq.ft, the total guideline value amounts to Rs 77,00,000. The stamp duty at 7% would be Rs 5,39,000, and the registration fee at 2% would be Rs 1,54,000, making the total cost for these fees Rs 6,93,000. It is essential to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers MMDA Wholesale Market?

The MMDA Wholesale Market is covered by the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Koyakbedu. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When registering a property, buyers must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the fees reflect the current market conditions as determined by the guideline values set by the Registration Department.

Frequently asked questions

What is the current guideline value of MMDA Wholesale Market?

The current guideline value of the MMDA Wholesale Market is Rs 7,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,500 per sq.ft in 2007 to Rs 7,700 per sq.ft in 2024, marking an overall increase of 413% over the years.

What is the registration office for MMDA Wholesale Market?

The registration office for the MMDA Wholesale Market is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated for properties in MMDA Wholesale Market?

Stamp duty for properties in the MMDA Wholesale Market is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total stamp duty would be Rs 5,39,000.

What are the other streets in Koyakbedu with their guideline values?

Other streets in Koyakbedu include Mmda Wholesale Market A Road and M.M.D.A. Whole Sale Market Shop No.TD 89 only, both valued at Rs 7,700 per sq.ft in 2024, among others with varying values.