Guideline Value for Melppatti Ponnambalam Mudhali Street

Melppatti Ponnambalam Mudhali Street guideline value

The current guideline value of Melppatti Ponnambalam Mudhali Street is Rs 3,800 per sq.ft, effective from 1 July 2024. This street is located in Mugappair village, under the Konnur SRO, and falls under the Residential Class II Type - I land classification.

How the guideline value of Melppatti Ponnambalam Mudhali Street has changed

The guideline value for Melppatti Ponnambalam Mudhali Street has undergone several revisions over the years. In 2002, the value was Rs 357 per sq.ft, which increased to Rs 392 per sq.ft in 2003. Following this, the value saw a significant rise, reaching Rs 1,200 per sq.ft in 2007, and then it further increased to Rs 3,500 per sq.ft in 2012. However, there was a decline to Rs 2,345 per sq.ft in 2017. The value then rose again to Rs 3,500 per sq.ft in 2023, before reaching the current rate of Rs 3,800 per sq.ft in 2024.

Between these revisions, the changes were notable. From 2017 to 2023, there was a 49% increase, while from 2012 to 2017, there was a decrease of 33%. The value rose by 192% from 2007 to 2012 and by 206% from 2003 to 2007. Overall, from 2002 to 2024, the guideline value has increased by 964%. The register has no figures for the years not mentioned.

Guideline values in Mugappair

In Mugappair village, there are 224 streets under the Konnur SRO, with guideline values ranging from Rs 3,300 to Rs 8,800 per sq.ft. The median value for these streets is Rs 7,100 per sq.ft, placing Melppatti Ponnambalam Mudhali Street's current guideline value below that median.

• Mettucherry: Rs 3,800 per sq.ft (2024)
• Masuthi Street: Rs 5,500 per sq.ft (2024)
• Maria Street: Rs 3,300 per sq.ft (2024)
• Mariamman Koil Street 1, 2 and 3rd Street: Rs 3,300 per sq.ft (2024)
• Maraimalai Adigal Salai: Rs 5,500 per sq.ft (2024)
• M.M. Avenue: Rs 7,100 per sq.ft (2024)

Stamp duty and registration fee for property in Melppatti Ponnambalam Mudhali Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,800 per sq.ft, the total guideline value would be Rs 38,00,000. The stamp duty at 7% would be Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, bringing the total to Rs 3,42,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Melppatti Ponnambalam Mudhali Street?

The Sub Registrar Office that covers Melppatti Ponnambalam Mudhali Street is the Konnur Sub Registrar Office, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Mugappair. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that all transactions reflect a fair value as per the government standards.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these fees are based on the higher value between the guideline value and the sale price, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Melppatti Ponnambalam Mudhali Street?

The current guideline value of Melppatti Ponnambalam Mudhali Street is Rs 3,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, starting from Rs 357 per sq.ft in 2002 to Rs 3,800 per sq.ft in 2024, reflecting an overall increase of 964% since 2002.

What is the land classification for Melppatti Ponnambalam Mudhali Street?

Melppatti Ponnambalam Mudhali Street falls under the Residential Class II Type - I land classification.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 38,00,000, the stamp duty would be Rs 2,66,000 and the registration fee would be Rs 76,000, totaling Rs 3,42,000.

Which office handles the registration for this street?

The Konnur Sub Registrar Office handles the registration for Melppatti Ponnambalam Mudhali Street, located in Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.