Guideline Value for Main Road

Main Road guideline value

The current guideline value of Main Road in Mambakkam village is Rs 505 per sq.ft, effective from 1 July 2024. This falls under the jurisdiction of the Sunguvarchattram SRO and is classified as Residential Special Type - II.

How the guideline value of Main Road has changed

The guideline value for Main Road has seen several revisions over the years. In 2012, the value was Rs 500 per sq.ft, which then decreased to Rs 335 per sq.ft in 2017. The value subsequently increased to Rs 500 per sq.ft in 2023 and is now Rs 505 per sq.ft in 2024, marking a 1% increase from the previous year. The register has no figures for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value rose significantly by 49%. Overall, comparing the figures from 2012 to 2024, there has been a slight increase of 1%.

Guideline values in Mambakkam

Mambakkam village has 39 streets under the Sunguvarchattram SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 1,418 per sq.ft, with a median value of Rs 305 per sq.ft. The guideline value for Main Road is above this median.

• Mahalakshmi Farms: Rs 505 per sq.ft (2024)
• Kuruku Street: Rs 305 per sq.ft (2024)
• M.B.C Street: Rs 305 per sq.ft (2024)
• Mettu Street: Rs 305 per sq.ft (2024)
• Muthumariamman Kovil Street: Rs 305 per sq.ft (2024)
• Naddu Street: Rs 275 per sq.ft (2024)

Stamp duty and registration fee for property in Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 505 per sq.ft, the total guideline value is Rs 5,05,000. The stamp duty at 7% would amount to Rs 35,350, and the registration fee at 2% would be Rs 10,100, bringing the total charges to Rs 45,450. 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 further calculations.

Which Sub Registrar Office covers Main Road?

Main Road is covered by the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Mambakkam. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that the transaction is recorded at a fair value according to the local regulations.

When a property is sold, the buyer and seller must consider the guideline value to calculate the applicable fees. This value is essential for both parties to understand the financial implications of the transaction and to comply with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Main Road?

The current guideline value of Main Road in Mambakkam village is Rs 505 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2012 to Rs 335 per sq.ft in 2017, then to Rs 500 per sq.ft in 2023, and finally to Rs 505 per sq.ft in 2024.

What is the land classification for Main Road?

Main Road is classified as Residential Special Type - II under the guideline value register.

What are the stamp duty and registration fees for property on Main Road?

For a property valued at Rs 5,05,000, the stamp duty would be Rs 35,350, and the registration fee would be Rs 10,100, totaling Rs 45,450.

Where can I find the Sub Registrar Office for Main Road?

The Sub Registrar Office covering Main Road is located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.