Guideline Value for Mambakkam Main Road

Mambakkam Main Road guideline value

The current guideline value of Mambakkam Main Road is Rs 3,300 per sq.ft, effective from 1 July 2024. This road is located in Vengaivasal village and falls under the Selaiyur SRO, classified as Industries Special Type - I.

How the guideline value of Mambakkam Main Road has changed

The guideline value for Mambakkam Main Road has seen several revisions over the years. In 2012, the value was set at Rs 3,000 per sq.ft. This figure decreased to Rs 2,010 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 3,000 per sq.ft, reflecting a rise of 49%. The most recent revision in 2024 raised the guideline 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 Mambakkam Main Road for the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Vengaivasal

In Vengaivasal, there are 117 streets under the Selaiyur SRO with a 2024 guideline value ranging from Rs 850 to Rs 4,800 per sq.ft. The median guideline value for these streets is Rs 2,700 per sq.ft, placing the Mambakkam Main Road value above this median.

• Maharaj Nagar: Rs 2,700 per sq.ft (2024)
• Maharajapuram: Rs 2,700 per sq.ft (2024)
• Megala Nagar: Rs 1,900 per sq.ft (2024)
• Lakshmi Sarathy Nagar: Rs 3,700 per sq.ft (2024)
• Kumaran Nagar: Rs 3,300 per sq.ft (2024)
• Mohi Florence Phase-5: Rs 2,900 per sq.ft (2024)

Stamp duty and registration fee for property in Mambakkam 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 fees 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.

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

Which Sub Registrar Office covers Mambakkam Main Road?

The Mambakkam Main Road is covered by the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, within the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Vengaivasal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is conducted at a fair value.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Mambakkam Main Road?

The current guideline value of Mambakkam 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 2012 to Rs 2,010 per sq.ft in 2017, then increased to Rs 3,000 per sq.ft in 2023, and finally reached Rs 3,300 per sq.ft in 2024.

What are the guideline values for other streets in Vengaivasal?

Other streets in Vengaivasal have varying guideline values, with rates ranging from Rs 850 to Rs 4,800 per sq.ft. The median value is Rs 2,700 per sq.ft.

How is the stamp duty calculated for properties in Mambakkam Main Road?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000.

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

The Sub Registrar Office covering Mambakkam Main Road is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.