Guideline Value for MMRD ROAD

Mmrd Road guideline value

The current guideline value of Mmrd Road in Kovilambakkam village, under the Pallavaram SRO, is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is classified as Commercial Class I Type - I.

How the guideline value of Mmrd Road has changed

The guideline value for Mmrd Road has undergone several revisions. The register shows no figures for the years 2002, 2003, 2007, 2012, and 2017. In 2023, the guideline value was Rs 4,000 per sq.ft, which increased by 10% to Rs 4,400 per sq.ft in the 2024 revision.

This change from 2023 to 2024 reflects a notable increase in the guideline value. The current figure of Rs 4,400 per sq.ft is the latest and indicates the most recent valuation for this street.

Guideline values in Kovilambakkam

In Kovilambakkam, there are 61 streets under the Pallavaram SRO with guideline values ranging from Rs 1,320 to Rs 5,610 per sq.ft as per the 2024 revision. The median guideline value for these streets is Rs 2,750 per sq.ft, making Mmrd Road's 2024 figure above that median.

• Mohi Aurora: Rs 5,610 per sq.ft (2024)
• Mulai Nagar: Rs 2,160 per sq.ft (2024)
• Muthiah Nagar: Rs 4,070 per sq.ft (2024)
• Muthiah Nagar 1 To 4 Streets: Rs 2,750 per sq.ft (2024)
• Mayana Salai: Rs 2,160 per sq.ft (2024)
• Mangali Amman Koil 16 & 18 Streets: Rs 2,160 per sq.ft (2024)

Stamp duty and registration fee for property in Mmrd Road

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, making the total fees Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mmrd Road?

The Sub Registrar Office that covers Mmrd Road is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO for more information.

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

When buying or selling property in Kovilambakkam, the guideline value plays a crucial role in determining the applicable stamp duty and registration fees. This value is set by the government and is used as a benchmark for property transactions.

At the time of registration, the guideline value is compared with the sale price, and the duty is charged on the higher of the two. This ensures that the government receives appropriate fees based on the property's assessed value.

Frequently asked questions

What is the current guideline value of Mmrd Road?

The current guideline value of Mmrd Road is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Mmrd Road has seen changes from Rs 4,000 per sq.ft in 2023 to Rs 4,400 per sq.ft in 2024, reflecting a 10% increase. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What are the stamp duty and registration fees for property in Mmrd Road?

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles registrations for properties on Mmrd Road?

The Pallavaram Sub Registrar Office handles registrations for properties on Mmrd Road. It is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What is the significance of guideline value in property transactions?

The guideline value is essential in property transactions as it determines the stamp duty and registration fees payable. It serves as a benchmark for property valuation, ensuring that the government collects appropriate fees during the registration process.