Guideline Value for Mount Medavakkam Road

Mount Medavakkam Road guideline value

The current guideline value of Mount Medavakkam Road is Rs 5,500 per sq.ft, effective from 1 July 2024. This road is located in Moovarasampattu village under the Alandur SRO, classified as Commercial Class I Type - I.

How the guideline value of Mount Medavakkam Road has changed

The guideline value for Mount Medavakkam Road has undergone several revisions over the years. In 2002, the value was Rs 251 per sq.ft, which increased to Rs 1,000 per sq.ft in 2003. The value remained the same until 2007 when it surged to Rs 1,000 per sq.ft. In 2012, it rose to Rs 5,000 per sq.ft, but then dropped to Rs 3,350 per sq.ft in 2017. The value continued to increase, reaching Rs 5,000 per sq.ft in 2023, and finally, it is set at Rs 5,500 per sq.ft in the 2024 revision.

Between the revisions, the most notable changes include a significant increase of 400% from 2007 to 2012, followed by a 49% increase from 2017 to 2023. The latest revision from 2023 to 2024 reflects a 10% increase. Overall, from 2002 to 2024, the guideline value has increased by 2091%.

Guideline values in Moovarasampattu

In Moovarasampattu, there are 68 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 5,500 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value for Mount Medavakkam Road is above this median.

• Muvarasampattu Main Road: Rs 4,400 per sq.ft (2024)
• Medavakkam Main Road: Rs 5,500 per sq.ft (2024)
• Narmatha Street(GANGA NAGAR): Rs 3,300 per sq.ft (2024)
• Madipakkam Main Road: Rs 3,300 per sq.ft (2024)
• Kulakkarai Street: Rs 3,300 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Mount Medavakkam Road

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, resulting in a total of Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mount Medavakkam Road?

The Sub Registrar Office that covers Mount Medavakkam Road is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more details.

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

The guideline value is a critical factor during the registration of property transactions in Moovarasampattu. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, it is essential to consider the guideline value as it impacts the overall costs involved in the transaction. Buyers should be aware that the final costs may vary depending on the sale price and the applicable guideline value.

Frequently asked questions

What is the current guideline value of Mount Medavakkam Road?

The current guideline value of Mount Medavakkam Road is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 251 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 2091% over this period.

What are the stamp duty and registration fees for properties on Mount Medavakkam Road?

For a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000 and the registration fee would be Rs 1,10,000, totaling Rs 4,95,000.

Which office handles property registrations for Mount Medavakkam Road?

The Alandur Sub Registrar Office handles property registrations for Mount Medavakkam Road, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What is the land classification for Mount Medavakkam Road?

Mount Medavakkam Road is classified as Commercial Class I Type - I, indicating its suitability for commercial activities.