Guideline Value for MODEL HUTMUNT ROAD

Model Hutmunt Road guideline value

The current guideline value of Model Hutmunt Road is Rs 7,700 per sq.ft, effective from 1 July 2024. This road is located in Mambalam village, under the jurisdiction of the Thiyagaraya nagar SRO, and is classified as Residential Class I Type - II.

How the guideline value of Model Hutmunt Road has changed

The guideline value for Model Hutmunt Road has seen significant changes over the years. In 2002, the value was Rs 731 per sq.ft, which increased to Rs 811 per sq.ft in 2003. Following that, there was a substantial rise to Rs 2,500 per sq.ft in 2007, marking an increase of 208%. The value then rose to Rs 7,000 per sq.ft in 2012, reflecting a 180% increase. However, it dropped to Rs 4,690 per sq.ft in 2017, a decrease of 33%. The value rebounded to Rs 7,000 per sq.ft in 2023 and finally reached Rs 7,700 per sq.ft in 2024, showing a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 953%. The register has no figures for revisions in the years not explicitly mentioned.

Guideline values in Mambalam

Mambalam village has a total of 163 streets under the Thiyagaraya nagar SRO, with guideline values ranging from Rs 4,400 to Rs 22,000 per sq.ft. The median value for these streets is Rs 6,600 per sq.ft, placing Model Hutmunt Road's 2024 figure above that median.

• Mosque 1 Street: Rs 4,400 per sq.ft (2024)
• Mosque 2 Street: Rs 4,400 per sq.ft (2024)
• Mosque 3 Street: Rs 4,400 per sq.ft (2024)
• Mosque 4th Street: Rs 4,400 per sq.ft (2024)
• Nandhi Loop Road: Rs 7,700 per sq.ft (2024)
• Manickam Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Model Hutmunt Road

For a 1,000 sq.ft plot at the current guideline value of Rs 7,700 per sq.ft, the total guideline value would be Rs 77,00,000. The stamp duty at 7% would amount to Rs 5,39,000, and the registration fee at 2% would be Rs 1,54,000, bringing the total costs together to Rs 6,93,000. It is important to note that the 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 Model Hutmunt Road?

The Sub Registrar Office that covers Model Hutmunt Road is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process of property transactions in Mambalam. It serves as a benchmark for determining the minimum value at which properties 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 stamp duty and registration fees, which are essential for the legal transfer of ownership. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Model Hutmunt Road?

The current guideline value of Model Hutmunt Road 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 increased from Rs 731 per sq.ft in 2002 to Rs 7,700 per sq.ft in 2024, reflecting a total increase of 953% over the years.

What is the registration office for Model Hutmunt Road?

The registration office for Model Hutmunt Road is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35.

How is stamp duty calculated for properties on Model Hutmunt Road?

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

What is the median guideline value for streets in Mambalam?

The median guideline value for the 163 streets in Mambalam is Rs 6,600 per sq.ft, with Model Hutmunt Road's value being above this median.