Guideline Value for MUGAMMATHU IBRAHIM STREET

Mugammathu Ibrahim Street guideline value

The current guideline value of Mugammathu Ibrahim Street is Rs 750 per sq.ft. This street is located in Walajabad village, under the Walajabad SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Mugammathu Ibrahim Street has changed

The guideline value for Mugammathu Ibrahim Street has seen several revisions over the years. The 2007 revision set the value at Rs 60 per sq.ft, which significantly increased to Rs 750 per sq.ft in the 2012 revision. However, this value dropped to Rs 502 per sq.ft in 2017, before stabilizing at Rs 750 per sq.ft in both the 2023 and 2024 revisions. The register has no figures for this street in 2002 and 2003.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. The value remained unchanged from 2023 to 2024, reflecting a 0% change. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 1150%.

Guideline values in Walajabad

In Walajabad, there are 196 streets under the Walajabad SRO that carry a 2024 guideline value, ranging from Rs 400 to Rs 2,000 per sq.ft. The median value is Rs 750 per sq.ft, which is equal to the 2024 guideline value of Mugammathu Ibrahim Street.

• Muhamadiyar Street: Rs 750 per sq.ft (2024)
• Mukaaniyamman Melandai Srteet: Rs 750 per sq.ft (2024)
• Mukkiyamman Kovil St: Rs 750 per sq.ft (2024)
• Munseep Narayana Swamy Srteet: Rs 750 per sq.ft (2024)
• Mg Thennamam Bank Extension III: Rs 750 per sq.ft (2024)
• Nadesa Iyer Street: Rs 750 per sq.ft (2024)

Stamp duty and registration fee for property in Mugammathu Ibrahim Street

For a 1,000 sq.ft plot at the current guideline value of Rs 750 per sq.ft, the total guideline value would be Rs 7,50,000. The stamp duty, charged at 7%, would amount to Rs 52,500, while the registration fee at 2% would be Rs 15,000. Together, the total cost for stamp duty and registration would be Rs 67,500. 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 Mugammathu Ibrahim Street?

The Sub Registrar Office that covers Mugammathu Ibrahim Street is the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role when buying or selling property in Walajabad. It is used to determine the stamp duty and registration fees that need to be paid during the property registration process. The guideline value is set by the Registration Department and is updated periodically to reflect changes in the market.

When a buyer or seller engages in a property transaction, the registered guideline value is used as a basis for calculating the applicable fees. It ensures that the transaction is recorded at a fair value as per the regulations set by the state.

Frequently asked questions

What is the current guideline value of Mugammathu Ibrahim Street?

The current guideline value of Mugammathu Ibrahim Street is Rs 750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the most significant increase from Rs 60 per sq.ft in 2007 to Rs 750 per sq.ft in 2012. The value has remained at Rs 750 per sq.ft since 2012, with no change from 2023 to 2024.

What is the land classification of Mugammathu Ibrahim Street?

Mugammathu Ibrahim Street is classified as Residential Class IV Type - I, indicating its use for residential purposes.

Where can I find the Sub Registrar Office for Mugammathu Ibrahim Street?

The Sub Registrar Office for Mugammathu Ibrahim Street is located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Walajabad?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 7,50,000, the stamp duty would be Rs 52,500 at a rate of 7%.