Guideline Value for MUGALIVAKKAM MAIN ROAD

Mugalivakkam Main Road guideline value

The current guideline value of Mugalivakkam Main Road is Rs 3,300 per sq.ft, effective from 1 July 2024. This road is located in Manapakkam village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Mugalivakkam Main Road has changed

The guideline value for Mugalivakkam Main Road has seen several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which was a decrease of 33% from the 2017 revision that recorded Rs 2,010 per sq.ft. The value remained at Rs 3,000 per sq.ft in 2012, but the 2017 revision marked a significant increase to Rs 3,000 per sq.ft in 2023, reflecting a 49% increase. The current 2024 revision has raised the value to Rs 3,300 per sq.ft, which is a 10% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

Guideline values in Manapakkam

In Manapakkam, there are 368 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 12,800 per sq.ft. The median value for these streets is Rs 2,530 per sq.ft, positioning Mugalivakkam Main Road's 2024 figure above that median.

• Mukthi Enclave: Rs 2,530 per sq.ft (2024)
• Mukthi Enclave Main Salai: Rs 2,530 per sq.ft (2024)
• Mukthi Enclave Right Cross Street: Rs 2,530 per sq.ft (2024)
• Mount Poonamallee Road: Rs 6,600 per sq.ft (2024)
• Motathamman Koil Street: Rs 1,980 per sq.ft (2024)
• Motathamman Koil 2nd Street: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Mugalivakkam Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total costs together to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for accurate calculations based on your property details.

Which Sub Registrar Office covers Mugalivakkam Main Road?

The Sub Registrar Office that covers Mugalivakkam Main Road is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Manapakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is considered to ensure that the transaction reflects a fair valuation of the property. This helps maintain transparency and accountability in real estate transactions.

Frequently asked questions

What is the current guideline value of Mugalivakkam Main Road?

The current guideline value of Mugalivakkam Main Road is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024, marking a 10% increase. It was Rs 2,010 per sq.ft in 2017 and Rs 3,000 per sq.ft in 2012.

What is the land classification for Mugalivakkam Main Road?

The land classification for Mugalivakkam Main Road is Residential Class I Type - I. This classification is important for understanding the development potential of the area.

Where can I calculate stamp duty and registration fees?

You can calculate the stamp duty and registration fees using the stamp duty and registration fee calculator available online.

Which office handles property registrations for Mugalivakkam Main Road?

The Chennai South Joint I Sub Registrar Office handles property registrations for Mugalivakkam Main Road. It is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.